Flying Tulip Raises $200M for On-Chain Exchange Platform
Flying Tulip, a novel on-chain exchange platform spearheaded by Andre Cronje, has secured $200 million in a private funding round. The platform aspires to deliver institutional-grade market structure with on-chain assurances.
The funding round, led by Brevan Howard Digital and other prominent investors, values the platform at $1 billion. Flying Tulip presents a range of products, including a native stablecoin, money market, spot trading, derivatives, options, and on-chain insurance. Users can burn $FT tokens to redeem their original principal at any time.
Andre Cronje, renowned for his work on Yearn.finance and Keep3r Network, founded Flying Tulip. He aims to align users, investors, and the team through clear guarantees. The platform targets up to $1 billion in total funding across private and public phases, with an $FT token sale planned for multiple chains.
Flying Tulip's innovative on-chain exchange platform has raised significant funding, indicating investor confidence in its potential. The platform's diverse offerings and clear alignment goals distinguish it in the DeFi space.
