The full-stack on-chain exchange Flying Tulip announced today the completion of a $200 million private placement financing and will launch its ecological token FT's on-chain public offering at the same valuation. The platform integrates native stablecoins, money markets, spot trading, derivatives, options, and on-chain insurance to build a capital-efficient trading system that supports cross-margining and is volatility-aware. This round of financing saw participation from top global institutions including Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol.

​​Innovative On-Chain Redemption Rights (“Perpetual Put Options”)​​

All primary market participants (both private and public) will receive on-chain redemption rights, allowing them to destroy FT tokens at any time and redeem their initial invested assets (such as ETH). The redemption will be automatically settled through an independent on-chain reserve pool, which is specifically established from the financing proceeds. This mechanism mitigates downside risk while retaining the potential for unlimited asset appreciation.

​​Usage-Oriented Token Economic Model​​

The team does not reserve initial token shares; their rights are accumulated solely through public market buybacks from protocol revenue sharing, constrained by a transparent release plan. From day one, the incentive system is tied to actual usage and long-term performance.

​​Public Offering Arrangement​​

The on-chain public offering will support multi-chain participation. Specific asset types, initial circulation volume, sales mechanisms, and the official smart contract address (to be published only through the official website) will be announced prior to the launch. Flying Tulip plans to raise up to $1 billion in total through both private and public phases. "Our goal is to provide an institution-grade market structure with on-chain collateral, achieving deep synergy of interests among users, investors, and the team," said Andre Cronje, founder of Flying Tulip.

​​About Flying Tulip​​

Flying Tulip is a capital-efficient on-chain financial market that integrates spot, derivatives, credit, and risk transfer, built on the principles of transparent risk management and long-term sustainability.

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