Flying Tulip has completed a $200 million financing round, with the $FT token being publicly offered and providing on-chain redemption rights.

The full-stack on-chain trading platform Flying Tulip announced today that it has completed a $200 million private fundraising round and will launch an on-chain public sale of the $FT token at the same valuation.

Flying Tulip integrates native stablecoins, a money market, spot trading, derivatives, options, and on-chain insurance into a single suite of cross-margin, volatility-aware systems to maximize capital efficiency.

The investors in this funding round include global institutions such as Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, Virtuals Protocol, and others.

On-Chain Redemption Rights

All primary market participants (private and public sale) will have on-chain redemption rights, allowing them to destroy $FT at any time and redeem up to an equivalent amount of the original principal (e.g., ETH). The redemption is settled automatically by an on-chain independent reserve pool funded by the raised capital. This design aims to protect investors' downside risk while retaining unlimited upside potential.

Tokenomics Aligned with Use Cases

The team does not hold any initial token allocation, and its token holdings are entirely acquired through open market buybacks, funded by a portion of protocol revenue and following a transparent schedule. In other words, from day one, incentives are directly tied to real-world usage and long-term performance.

Public Sale Plan

The on-chain public sale will be conducted across multiple public chains, and details such as supported asset types, initial circulating supply, sales mechanisms, and official smart contract addresses will be announced before the launch. Flying Tulip aims to raise a total of $1 billion in funds through a combination of private and public sale phases.

Andre Cronje, the founder of Flying Tulip, said: "Our goal is to provide institutional-grade market infrastructure and ensure a clear alignment of interests between users, investors, and the team through an on-chain collateral mechanism."

About Flying Tulip

Flying Tulip is an on-chain financial market platform that unifies spot, derivatives, credit, and risk transfer into a highly efficient cross-margin system. The platform aims to achieve transparent risk management and long-term sustainability.