Post #11703

Flying Tulip closed Public Sale with $208M invested, FT became tradable $FT debuts in market at $974M FDV - but this isn't a typical token launch, and understanding the difference matters. Flying Tulip raised $208M not through a classic sale where funds go to the team, but via a Perpetual PUT mechanism. Every dollar deposited sits in Aave, generating yield - that yield is the protocol's actual revenue. The way it works: participants received $FT wrapped in an NFT representing a PUT option. At any time, users can burn $FT and get $USDC back 1:1, or withdraw $FT to a wallet and give up the right, in which case reserved USDC is used to buy and burn FT on the market. FT just became transferable today. Spot trading, lending, and ftUSD are rolling out first, with a full orderbook coming within 1-2 weeks. ℹ️ Flying Tulip is a full-stack onchain exchange integrating spot trading, derivatives, lending, money markets, a native stablecoin (ftUSD), and onchain insurance into a single cross-margin system founded by Andre Cronje. It raised $225.5M in two funding rounds backed by Brevan Howard Digital, CoinFund, DWF Labs, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol. 🔗x.com/flyingtulip_/status/2025902438461440103 @TOP7ICO