BlockBeats News, February 17 — On this day, on-chain financial system Flying Tulip (FT), founded by DeFi architect Andre Cronje, officially launched its public token sale. Previously, the project completed a $200 million seed round and oversubscribed its presale on CoinList, raising nearly $10 million. The public fundraising cap is set at $1 billion, with a fully diluted valuation (FDV) also reaching $1 billion, making it one of the larger protocol issuances in the 2026 market cycle.
Flying Tulip is built as a native yield-generating ecosystem, integrating spot trading, margin lending, and its own stablecoin ftUSD. The protocol allocates 100% of deposited funds into low-risk, high-liquidity yield strategies (such as Aave and Lido), capturing only the excess yield spread for operations and token buybacks, distinguishing itself from traditional DeFi models that rely on inflation incentives.
The core innovation of this public offering is the “ftPUT” model, an on-chain “perpetual put option” mechanism. All FT tokens issued in the public sale carry the right to be redeemed at their original investment value (supporting BTC, ETH, SOL, and stablecoins), establishing an on-chain “floor price” of $0.10. When the secondary market price falls below this threshold, an automatic buyback mechanism is triggered. Cronje stated that this structure aims to emphasize the “refundable” property, primarily safeguarding users’ principal.
The project’s token generation event (TGE) is scheduled for February 23. Flying Tulip is currently deployed on Ethereum, Base, and Avalanche, with plans to expand to MegaETH and Hyperliquid, positioning itself as a low-latency, cross-chain liquidity infrastructure for the “Agentic Economy.” Market attention is focused on whether it can continue to deliver on its “principal protection” promise while expanding its TVI (Total Value Invested).
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ju.com 20% Off Launchpad XRP Concludes, Heat Continues. Welcome the God of Wealth on the fifth day, Episode 5 BNB on February 21 at 16:00 for the flash sale.
Ju.com Spring Festival Event Phase 4 ended on February 20th, with over 10,000 participants and more than $50 million in funds, exceeding the fundraising goal by 700%. Phase 5 will launch on February 21st, allowing users to participate in subscriptions at a 20% discount, with a chance to win physical prizes and token rewards.
GateNewsBot57m ago
Zero Confirms ZRO as Sole Token for Staking, Gas, and Fees
_Zero confirms ZRO as sole token for staking, gas, and all fees; 19.77% of supply is tied to buybacks and institutional purchases._
Zero has confirmed that ZRO will be the sole token powering its new network, ending speculation about the potential launch of an additional asset.
The team
LiveBTCNews3h ago
Stablecoin Legislation Countdown: White House Sets 3/1 Deadline, Earning Interest on Holdings May Be Blocked, Infrastructure Race Ahead
The White House has set March 1 as the deadline for negotiations on stablecoin reward provisions, sparking intense competition between the banking industry and the crypto sector over legal issues related to stablecoin yield payments. ProShares and Anchorage Digital have taken the lead in laying out the groundwork to promote market infrastructure development. This legislation will have a profound impact on the stablecoin market and traditional banks, potentially changing the flow of funds.
動區BlockTempo4h ago
RootData: BTR will unlock tokens worth approximately $2.72 million in one week
ChainCatcher message: According to Web3 asset data platform RootData's token unlock data, Bitlayer (BTR) will unlock approximately 14.69 million tokens, worth about $2.72 million, at 10:00 AM Beijing time on February 27.
GateNewsBot6h ago
RootData: WAL will unlock tokens worth approximately $1.38 million in one week
ChainCatcher message: According to Web3 asset data platform RootData's token unlock data, Walrus (WAL) will unlock approximately 17.5 million tokens at 10:00 AM Beijing time on February 27, valued at about $1.38 million.
GateNewsBot6h ago
Figure will launch its tokenized stocks and conduct a $150 million stock offering
Figure announces the issuance of stock tokens FGRD on its on-chain platform OPEN, without the need for traditional clearing systems. Investors can access the asset through the Figure Markets app and self-custody wallets, and use their stock tokens to borrow and lend in decentralized finance protocols. This tokenized stock listing coincides with a $150 million secondary public offering.
TechubNews8h ago
