Catenaa, Monday, October 06, 2025-Flying Tulip, a full‑stack onchain exchange, announced it raised $200 million in a private funding round and will host a public sale of its $FT token at the same valuation.
The platform combines a native stablecoin, money market, spot and derivatives trading, options, and onchain insurance in a single volatility-aware, cross‑margin system designed for capital efficiency.
The private round saw participation from major global investors, including Brevan Howard Digital, CoinFund, FalconX, DWF, Hypersphere, Lemniscap, and Susquehanna Crypto.
The funding supports the company’s long-term vision of transparent, institutional-grade onchain finance.
A key feature of $FT is its onchain redemption right, or “perpetual put,” which allows participants to burn tokens at any time and redeem up to their original principal in the contributed asset, such as ETH.
Redemptions are programmatically settled from a dedicated onchain reserve, offering downside protection while preserving upside potential.
Tokenomics align incentives with usage. The team receives no initial allocation, earning exposure only through open-market buybacks funded by protocol revenues, reinforcing long-term alignment between users, investors, and the platform.
Flying Tulip’s public sale will run across multiple chains, with details on assets, circulating supply, and smart-contract addresses to be shared on the official website.
The company aims to raise up to $1 billion across private and public phases.
Flying Tulip unifies spot, derivatives, credit, and risk transfer in a capital-efficient, cross-margin system designed for transparency and long-term sustainability.
