Flying Tulip completes $200 million financing and launches FT token public offering, innovatively introducing on-chain redemption rights mechanism

The full-stack on-chain exchange Flying Tulip announced today that it has completed a $200 million private placement financing and will launch its on-chain public offering of the ecological token FT at the same valuation. The platform has built a capital-efficient trading system that supports cross-margining and volatility-aware trading by integrating native stablecoins, money markets, spot trading, derivatives, options, and on-chain insurance. 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 and redeem their initial invested assets (such as ETH) at any time. Redemption actions 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 allocations; their rights are accumulated solely through public market repurchases of 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 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.