Flying Tulip is a newly launched full-stack DeFi on-chain exchange founded by Andre Cronje, setting a bold new course for crypto trading by marrying rigorous market structure with the flexibility of programmable finance. The project has emerged from a private funding round that raised $200 million, signaling strong demand for a platform that blends traditional market structure with on-chain capabilities and real-time risk management, comprehensive liquidity, and developer-friendly interfaces. The round was structured as SAFT funding and values the Flying Tulip FT token at a $1 billion fully diluted valuation, underscoring the market’s confidence in the protocol’s long-run potential, its governance model, and the potential to attract diverse institutional and retail participation. The exchange is set to launch a public sale of the FT token economics at the same valuation, positioning the project to attract broad participation from institutions and sophisticated retail investors while outlining clear tokenomic mechanics, vesting schedules, and performance-linked incentives. Backed by prominent global investors and built to emphasize on-chain guarantees, the team envisions a future where fees, rewards and risk management align with real usage, transparent governance, and auditable financial streams across multiple chains.
Viewed through an LSI-informed lens, the initiative resembles a blockchain-powered trading venue that combines liquidity pools, custody and price discovery in a single, auditable stack. Users and capital providers encounter tokenized finance mechanics, cross-chain access and transparent governance designed to support sustainable growth. Key mechanisms such as perpetual redemption rights, on-chain risk controls and revenue-backed buybacks help align incentives with actual usage. As the platform scales across multiple networks, it signals a broader shift toward institutional-grade DeFi infrastructure and practical token economics in everyday trading.
Flying Tulip Sets a New Standard for DeFi on-Chain Exchange with SAFT Funding
Flying Tulip, a newly launched full-stack on-chain exchange founded by Andre Cronje, has raised $200 million in a private funding round structured as a SAFT. The round values the FT token at a $1 billion fully diluted valuation and sets the stage for a public sale at the same valuation. Investors include Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital and Virtuals Protocol, signaling strong institutional confidence in the project.
As a DeFi on-chain exchange, Flying Tulip aims to combine traditional finance rigor with blockchain transparency, positioning itself among the most highly valued early-stage DeFi projects of the year. The funding round underscores a belief in the platform’s architecture and its potential to offer institutional-grade market structure with on-chain guarantees and scalable growth.
FT Token Economics: Perpetual Put, Buybacks, and Transparent Incentives
FT token economics centers on on-chain guarantees and downside protection. All FT buyers—private and public—will receive an on-chain redemption right, or perpetual put, allowing them to burn tokens and redeem up to their original principal in contributed assets such as ETH. These redemptions are settled from a segregated reserve seeded by the capital raised, offering downside protection while preserving upside potential.
In a departure from conventional tokenomics, Flying Tulip’s team will not receive an initial allocation. Instead, team exposure accrues only through open-market buybacks funded by protocol revenues and governed by a transparent schedule, ensuring incentives are tied to real usage and long-term performance.
DeFi on-Chain Exchange: Integrated Stablecoin, Money Market, and Derivatives
Flying Tulip offers a comprehensive financial ecosystem by integrating a native stablecoin, a robust money market, and a full suite of trading options, including spot and derivatives. By consolidating these services into a single platform, the exchange provides users with enhanced flexibility, liquidity, and strategic advantages for trading and risk management.
This integrated approach supports sophisticated portfolio construction and efficient capital allocation, enabling users to optimize strategies across multiple product lines while maintaining on-chain transparency and traceability.
SAFT Funding: Private-Round Momentum and Public Sale Alignment
The private SAFT funding round propelled Flying Tulip forward, culminating in a $200 million raise and a valuation of $1 billion fully diluted for the FT token. The public sale is planned to occur at the same valuation, aligning incentives between early investors and public participants. This structure aims to balance access for institutions with broad participation from the wider community.
The initiative targets up to $1 billion in total funding across both private and public phases, with a multi-chain public sale that broadens geographic and operational reach. This approach seeks to maximize liquidity, distribution, and price discovery for FT tokens.
On-Chain Guarantees: Institutional-Grade Market Structure for Users and Investors
Cronje emphasized the goal of providing institutional-grade market structure with on-chain guarantees, ensuring a clear alignment between users, investors, and the team. This framework is designed to bolster trust, reduce counterparty risk, and improve transparency across the platform’s operations.
By embedding guarantees directly into the on-chain protocol, Flying Tulip aims to deliver stability and confidence for diverse participants, from sophisticated traders to early investors, while preserving the flexibility and speed characteristic of DeFi ecosystems.
FT Token Economics and Governance: Alignment of Stakeholders
FT token economics are designed to align incentives among users, investors, and the developing team, with a focus on sustainable usage, revenue-backed dynamics, and transparent governance signals. The perpetual put mechanism and buyback framework contribute to a balanced, long-term value proposition.
As the ecosystem scales, governance processes may coordinate with reserve management, revenue streams, and token issuance dynamics to reinforce a resilient token model. This approach aims to ensure that FT token economics reflect real-world usage and disciplined capital management.
Multi-Chain Public Sale: Expanding Access Across Blockchains
The upcoming public sale will be hosted across multiple blockchains, expanding access to the FT token and increasing cross-chain liquidity. This strategy enhances participation from diverse ecosystems and supports broader distribution for the token.
A multi-chain rollout also facilitates interoperability and smoother onboarding for both retail and institutional participants, helping to diversify liquidity sources and strengthen network effects across DeFi markets.
Institutional Backing: Brevan Howard Digital, CoinFund, and Global Investors
Prominent global investors including Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital and Virtuals Protocol back Flying Tulip, underscoring confidence in the project’s architecture and roadmap.
Their participation not only adds capital but also strategic guidance, governance insight, and potential liquidity channels that can accelerate adoption, trading activity, and community engagement as FT tokens circulate on supported platforms.
Fully Diluted Valuation and Growth Outlook: Targeting a $1 Billion Benchmark
The private round values Flying Tulip FT token at a $1B fully diluted valuation, with a public sale planned at the same valuation and a target of up to $1B in total funding. This benchmark reflects confidence in the platform’s multi‑product DeFi design and scalable on-chain revenue model.
The capital raises solidify Flying Tulip’s position among leading DeFi projects this year, with expectations of rapid growth, increasing liquidity, and enhanced token utility as the ecosystem expands across stablecoin, money market, and derivatives offerings.
Comprehensive Platform: Spot, Derivatives, and Enhanced Trading Flexibility
Flying Tulip’s platform brings together spot trading, derivatives, and a full suite of trading options to deliver flexibility and robust risk management. By combining these capabilities with an integrated native stablecoin and a dynamic money market, the platform enables comprehensive trading strategies within a unified on-chain environment.
Users gain access to cohesive capital efficiency tools, collateral optimization, and streamlined settlement, enabling more sophisticated strategies while preserving exposure to DeFi market dynamics.
Redemption Mechanics and the Segregated Reserve Model
The on-chain redemption right is supported by a segregated reserve seeded with the capital raised, designed to back perpetual put redemptions. This structural feature is intended to provide downside protection for FT buyers while maintaining upside potential.
The reserve model isolates redemption activity from day-to-day protocol operations, ensuring predictable settlement and governance-aligned incentives that reward long-term platform usage and value creation.
Team Economics: No Initial Allocation; Exposure Through Buybacks
A distinctive feature of Flying Tulip’s tokenomics is that the team does not receive an initial FT allocation. Team exposure accrues through open-market buybacks funded by protocol revenues, governed by a transparent schedule.
This approach aligns management incentives with actual platform performance and user adoption, reinforcing trust among investors and users while promoting sustainable token value accretion through real usage.
Frequently Asked Questions
What is Flying Tulip and how does its DeFi on-chain exchange work?
Flying Tulip is a newly launched full-stack DeFi on-chain exchange founded by Andre Cronje. It combines a native stablecoin, a money market, and a comprehensive trading suite (spot and derivatives) into a single platform, aiming to deliver institutional-grade market structure with on-chain guarantees for enhanced risk management and strategic trading.
What is the Flying Tulip FT token and how do FT token economics work?
The FT token is Flying Tulip’s native token. Its FT token economics (FT token economics) include on-chain guarantees, crypto-backed protections, and mechanisms like perpetual put rights that give holders downside protection while preserving upside potential. Unlike traditional token models, Flying Tulip funds buybacks from protocol revenues and governs them on a transparent schedule, aligning incentives with real usage.
What is SAFT funding and how does it relate to Flying Tulip?
SAFT funding refers to a Simple Agreement for Future Tokens. Flying Tulip conducted a private SAFT funding round that raised around $200 million, valuing the project significantly and setting the stage for its public FT token sale.
How do on-chain guarantees work in Flying Tulip?
On-chain guarantees are implemented through a perpetual put mechanism. FT holders can burn tokens and redeem up to their original contributed principal in assets (e.g., ETH) from a segregated reserve. This provides downside protection while allowing investors to benefit from the platform’s ongoing usage and revenues.
When is the FT public sale and what valuation is targeted?
The public sale of FT is planned to occur across multiple blockchains, aiming for a valuation similar to the private round—around a $1 billion fully diluted valuation—with the private and public phases working together to raise substantial funding.
Which investors back Flying Tulip’s SAFT funding round?
The private SAFT round is backed by prominent global investors including Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital and Virtuals Protocol.
What components make up Flying Tulip’s native ecosystem (stablecoin, money market, trading options)?
Flying Tulip integrates a native stablecoin, a robust money market, and a full suite of trading options (spot and derivatives) within a single DeFi on-chain exchange, designed to provide flexibility, liquidity, and risk management across trading strategies.
How does Flying Tulip aim to align incentives among users, investors, and the team?
The project emphasizes institutional-grade market structure and on-chain guarantees, with incentives tied to real usage and long-term performance. Notably, the team does not take an initial allocation; exposure accrues through open-market buybacks funded by protocol revenues, aligning sponsor and user interests.
What is the role of multi-chain support in Flying Tulip’s FT token economics and public sale?
The public sale will be hosted across multiple blockchains to broaden access and liquidity, supporting a broader FT token ecosystem and enabling diverse participation while pursuing the targeted $1 billion valuation across private and public stages.
What is Flying Tulip’s position in the DeFi landscape based on the recent funding and product design?
With a private SAFT round valued at around $1 billion fully diluted and an ambitious public sale, Flying Tulip positions itself as one of the most highly valued early-stage DeFi projects of the year, offering an integrated DeFi on-chain exchange with on-chain guarantees and innovative FT token economics.
| Key Point | Details |
|---|---|
| Financing Round & Valuation | Private round raised $200 million via a SAFT; Flying Tulip’s native FT token valued at $1 billion fully diluted; a public sale of FT is planned at the same valuation. |
| Investors | Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital and Virtuals Protocol. |
| Platform & Ecosystem | A native stablecoin, a robust money market, and a full suite of trading options (spot and derivatives) integrated on a single platform to enhance flexibility and risk management. |
| Tokenomics & Redemption | All FT buyers receive an on-chain redemption right (perpetual put) to burn tokens and redeem up to their original principal in contributed assets such as ETH. Redemptions are funded from a segregated reserve seeded by the raised capital, providing downside protection while preserving upside. The team has no initial allocation; exposure accrues via open-market buybacks funded by protocol revenues and governed by a transparent schedule. |
| Governance & Team Allocation | Aims for institutional‑grade market structure with on-chain guarantees and clear alignment among users, investors, and the team. |
| Public Sale & Multi‑Chain | The upcoming public sale will be hosted across multiple blockchains; target up to $1 billion in total funding across private and public phases. |
| Market Position | Flying Tulip is positioned among the most highly valued early-stage DeFi projects of the year. |
