Flying Tulip led by Andre Cronje completes $200 million funding as an innovative on-chain financial platform

Prominent DeFi figure Andre Cronje is attracting attention with a new project. His founding company, Flying Tulip, announced the successful completion of a $200 million private financing round. Leading industry institutions such as Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol participated in this round.

Features of Flying Tulip as an On-Chain Financial Market

Flying Tulip is not just a derivatives trading platform but aims to be a comprehensive on-chain financial market integrating multiple financial functions. It offers a variety of trading and asset management tools—including native stablecoins, money markets, spot trading, derivatives, options, and on-chain insurance—all on a single platform.

At the core of this platform are a cross-margin system and a volatility-sensitive mechanism. These features enable users to utilize their capital more efficiently with limited resources. Simultaneously, a transparent risk management system aims to create a sustainable trading environment.

Innovative “On-Chain Redemption Rights” Mechanism

The most notable feature introduced by Flying Tulip is the “on-chain redemption right,” available to all primary sale participants (both private and public). This mechanism allows participants to burn FT tokens at any time and redeem their principal in the invested assets (such as ETH).

The redemption amount is capped at the original investment and is settled programmatically through a dedicated on-chain reserve pool. This reserve pool is pre-funded, ensuring complete transparency. This design provides a certain level of protection against downside risks while maintaining unlimited potential for upward growth.

Team Incentives and Transparent Value Distribution

Flying Tulip’s tokenomics adopts an approach different from others in the industry. The team does not receive any token allocations during the initial phase; instead, all team-held tokens are gradually built through buybacks of profits generated from protocol revenue.

This system ensures that from day one, the team’s incentives are fully aligned with actual platform usage and the long-term performance of the protocol. Because it is built gradually according to a transparent schedule, it eliminates concerns over excessive early profit-taking and helps build trust with users.

Andre Cronje’s Vision and Market Impact

“Our goal is to create an on-chain, institution-grade market structure guaranteed at the protocol level. Achieving true alignment of interests among users, investors, and the team is the fundamental mission of Flying Tulip,” said Andre Cronje.

This vision goes beyond mere trading efficiency. As new entrants join the perpetual contracts and derivatives markets, Flying Tulip has the potential to redefine industry standards as a platform that combines transparency and sustainability.

The public sale is scheduled to begin soon, and expectations among industry insiders are high.