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
XRP Goes Live on Solana as Official Wrapped Token
Ripple's XRP launched on Solana as a wrapped cross-chain asset on April 17, partnering with Hex Trust and others. This move, aimed at boosting liquidity and expanding access to Solana's DEX ecosystem, highlights Solana's growing role in cross-chain tokenization.
GateNews5h ago
Sui Targets South Korea for Financial Partnerships, Plans Won-Pegged Stablecoin and Bitcoin Products
Sui, a Layer 1 blockchain project, aims to expand in South Korea by collaborating with financial institutions and technology companies. Key initiatives include developing a stablecoin pegged to the won and enhancing its developer ecosystem with the Move programming language.
GateNews11h ago
Whale Purchases 4.5M LDO Worth $1.86M via OTC Following Lido Buyback Launch
Lido's LDO buyback program prompted a significant purchase of 4.5 million LDO tokens by a whale for $1.86 million, alongside 10,000 AAVE tokens for $1.15 million, sourced from Wintermute and FalconX, respectively.
GateNews16h ago
Nexters and Velop's Chaos W Surpasses 470K Pre-registrations Ahead of Q2 Launch
Nexters and Velop announced that their mobile MMORPG Chaos W has achieved over 470k pre-registrations ahead of its Q2 2026 launch. The game's hybrid model combines RTS and RPG elements, utilizing a fixed supply economy and accessible pre-registration via Telegram, aiming for global market growth.
GateNews17h ago
JST Token Burn Reaches 1.35 Billion Tokens, Representing 13.70% of Total Supply
JST's buyback and burn program has successfully burned 1.35 billion tokens, or 13.70% of its supply, valued at $60.03 million. The initiative, completed in three phases, creates a self-sustaining deflationary cycle using protocol revenues.
GateNews17h ago
LeverFi(LEVER) will be delisted on Gate on April 18; users need to withdraw it before April 21 and swap it themselves for Sedunia(SED)
Gate News message, according to an announcement from the LeverFi project team, the LeverFi (LEVER) token will soon be swapped for a new Sedunia (SED) token.
Gate will delist the LeverFi (LEVER) trading service on April 18, 2026 at 11:00 (UTC+8), including the LEVER_USDT spot trading pair and quantitative grid. At the same time, Gate has suspended deposits for LEVER. Users need to complete the token swap themselves via the channels specified by the project team; it is recommended to withdraw LEVER tokens to your personal wallet before April 21.
Any ongoing LEVER quantitative trading strategies must be adjusted in advance, otherwise they will be forcibly stopped before the delisting.
GateAnnouncement18h ago
