Flying Tulip Raise $200M, Dey Prepare $800M FT Token Sale

Andre Cronje Flying Tulip, wey be full-stack DeFi exchange, don close $200 million SAFT-based seed round with fully diluted valuation of $1 billion. This New York-based platform wan host $800 million public sale of their native FT token for on-chain, no go use traditional ICO places. Flying Tulip dey combine spot and derivatives markets, lending, money markets, one native stablecoin (ftUSD) and on-chain insurance under cross-margin system. The main feature na on-chain Redemption Right: investors fit burn FT tokens to get back their initial contribution, so downside go capped. During the public sale, FT tokens no fit transfer to stop arbitrage. Dem no go issue any team allocations at launch; instead, the team go use protocol revenues do buy back tokens through scheduled buybacks. Seed fund still dey invested inside protocols like Aave and Spark with about 4% yield, e dey generate around $40 million per year for development, ecosystem incentives and buybacks. Flying Tulip plan to first launch for Sonic chain with zero-fee trading, then go expand to Ethereum, Avalanche, BNB Chain and Solana.