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
LITRO Tokenized Crude Oil Project Launches Testnet, with each token representing 1 liter of crude oil, aiming to go live in 2027
The LITRO project aims to reshape the global energy trading system through blockchain technology and is expected to go live in 2027. The token will be 1:1 backed by real oil reserves, enhancing trading efficiency and lowering entry barriers. The project is currently in the early development stage and will collaborate with financial institutions in the future to build an intelligent logistics system, integrating digital assets with real-world energy.
GateNews50m ago
TRUMP token team-related wallet transfers 5 million tokens to a certain CEX, worth approximately $14.4 million.
On March 12th, on-chain data shows that the BitGo custodial wallet transferred 5 million TRUMP tokens to a certain CEX, valued at approximately $14.4 million, belonging to the TRUMP token team. This is part of the 32.5 million TRUMP tokens unlocked in early February, with 9.88 million tokens already transferred to the exchange.
GateNews1h ago
HYPE (Hyperliquid) increased by 7.80% in the past 24 hours
Gate News Update, March 12 — According to Gate Market Data, as of press time, HYPE (Hyperliquid) is trading at $37.28, up 7.80% in the past 24 hours. The highest price reached $37.42, while the lowest dipped to $29.53. The 24-hour trading volume is $446 million. The current market capitalization is approximately $9.595 billion, an increase of $694 million from yesterday.
Hyperliquid is a high-performance blockchain focused on finance, designed to unify various financial applications within the crypto ecosystem. Its core application is a decentralized exchange offering zero gas fees, up to 40x leverage trading, and fully on-chain order books. Hyperliquid L1 features a block time of 0.07 seconds and a maximum of 200,000 transactions per second.
GateNews1h ago
MetaDAO: RNGR liquidation snapshot will take place on March 13, and the liquidation portal will go live on March 17.
MetaDAO announces that the RNGR liquidation snapshot will be conducted on March 13th. Users are advised to withdraw their tokens to their personal wallets. The liquidation portal will go live on March 17th, with detailed information to be announced beforehand. The proposal to liquidate Ranger Finance was previously approved through voting.
GateNews1h ago
Pi Network mainnet migration briefly restarted, 85K Pi tokens have been transferred
Pi Network's mainnet migration briefly restarted on March 10, with approximately 85,000 Pi successfully transferred, but was subsequently paused. The circulating supply is 9.66 billion coins, still far from the 100 billion cap. Over 17.7 million users who completed KYC are awaiting token migration. There is a risk of scams during the migration period, and users should be cautious about security. The protocol v20.2 mandatory upgrade deadline is March 12; failure to upgrade will result in network disconnection risks.
MarketWhisper2h ago
Pi Network node deadline moved up! PI tokens surge 50% from lows
Pi Network has moved up the deadline for upgrading to version v20.2 to March 12, requiring mainnet nodes to complete the upgrade before the deadline or face disconnection. This move coincides with a 50% surge in PI token price. Analysts are cautious about the sustainability of the rally due to the closed mainnet limiting liquidity. Version v20.2 emphasizes enhanced KYC and biometric verification to improve platform security and compliance.
MarketWhisper5h ago
