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AC's DeFi project, Flying Tulip, has completed $225.5 million in institutional funding, valuing it at $1 billion
GateNewsBot
ChainCatcher news, according to The Block, Flying Tulip, a DeFi platform founded by Andre Cronje, has completed $225.5 million in institutional financing, valued at $1 billion. The project has raised an additional $50 million through the Impossible Finance platform and plans to conduct a public sale through CoinList. At present, more than $1.36 billion has been obtained from investment intentions, with only about $400 million remaining.
The Flying Tulip token price is fixed at $0.10, and all investments come with a “perpetual put option” that allows investors to redeem their principal at any time. The platform plans to deploy funds in on-chain strategies with a target annual return of 4% to support the platform’s development.
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