Overview

• The private round totaled $200 million with participants including Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol.
• An on-chain public sale of the $FT token will be offered at the same valuation across multiple blockchains, with supported assets, initial circulating supply, and mechanics to be announced on the project website alongside official contract addresses.
• Primary-sale buyers receive a perpetual put-style right to burn FT and redeem up to their original principal in the contributed asset, subject to reserve availability and protocol parameters, and the right is not insured or guaranteed.
• The team will receive no initial token allocation, with exposure accruing only through scheduled open-market buybacks funded by protocol revenues.
• Flying Tulip positions a full-stack on-chain marketplace spanning a native stablecoin, lending, spot, derivatives, options, and on-chain insurance, and it is targeting up to $1 billion in total funding across private and public phases.