DeFi Father Andre Cronje Makes a Major Comeback, Flying Tulip Public Offering Set to Launch Soon

Backed by $200 million, a new force in the perpetual contract sector accelerates its entry.

Full-stack on-chain exchange Flying Tulip announced today the completion of a $200 million private fundraising round.

Flying Tulip is an integrated platform featuring native stablecoins, money markets, spot trading, derivatives, options, and on-chain insurance, achieving higher capital efficiency through cross-margin and volatility-aware systems.

This round of financing attracted participation from several 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.

On-chain Redemption Rights (“Permanent Sell Option”)

All primary sale participants (whether private or public) will receive on-chain redemption rights, allowing them to burn FT at any time and redeem their principal in the invested asset (such as ETH), up to the original investment amount. Redemption will be programmatically settled through a dedicated on-chain reserve pool, which is pre-funded with the raised capital. This design aims to provide a certain degree of downside protection while retaining unlimited upside potential.

Token Economic Model Use Cases

The team will not have any initial token allocation; their holdings will be gradually established entirely through protocol revenue sharing for buybacks, following a transparent schedule. In other words, from day one, team incentives are closely tied to real usage scenarios and long-term performance.

Flying Tulip founder Andre Cronje stated: “Our goal is to build an institution-grade market structure with on-chain guarantees, and to achieve true alignment of interests among users, investors, and the team.”

About Flying Tulip

Flying Tulip is an on-chain financial market that integrates spot, derivatives, credit, and risk transfer functions under a cross-margin system, balancing capital efficiency and aiming for transparent risk management and long-term sustainability.