Flying Tulip
Better Yield, Better UX
About
Flying Tulip is a unified onchain financial system founded by Andre Cronje.
The protocol is designed to allow users to deploy the same collateral across multiple financial primitives within a single system, including: spot trading (AMM + CLOB), lending, perpetual futures, insurance, and a native stablecoin (ftUSD).
Flying Tulip’s goal is to unify core DeFi primitives under one protocol architecture. Protocol revenues are intended to support the Flying Tulip ecosystem, including ongoing development and FT token buybacks, as governed by the protocol’s design.
Funds contributed during the sale may be deployed into conservative onchain lending strategies. These strategies have historically generated low single-digit yields, which are intended to support protocol development prior to broader network activity.
Future protocol revenues from the stablecoin, lending, and trading products may be used to support the ecosystem, including FT token buybacks, according to protocol rules.
Website Sale Guide Twitter Roadmap Manage Allocation
Sale Terms
Token Price
$0.1
Fully Diluted Value
$1,000,000,000
Allocated Token Supply
2,000,000,000 FT (20% of Total Token Supply)
Total Token Supply
10,000,000,000 FT
Unlock Schedule
100% at TGE, with tokens initially wrapped in the Perpetual PUT structure. More info in FAQ below.
Purchase Limits
Minimum: $100
Purchase Options
USDC, USDT (ERC-20 only)
Note: USDC and USDT prices may fluctuate slightly due to the use of on-chain oracles.
Distribution
Non-custodial external wallets provided by participants at purchase
Previous Raises + Valuations
Seed Round: $200M at $1B valuation
Eligible Jurisdictions
Excludes residents of the U.S. (and its territories), Canada, and other restricted jurisdictions (see full list in FAQ below)
Milestones
- February 2-6, 2026: Token Sale
- February 23, 2026: TGE
FAQ
Where can I manage my allocation?
putNFTs (Perpetual PUT NFT) were distributed to the external wallet address you provided in the sale flow. To manage your FT NFT and tokens:
- Go to flyingtulip.com/allocation/positions
- Connect the wallet you used during the sale
What is the Perpetual PUT option?
When you contribute to the primary raise, you do not receive freely tradable FT tokens immediately. Instead, you mint an FT NFT that holds your FT tokens and embeds a standing redemption right (the “Perpetual PUT”) tied to your original contribution.
This NFT acts as a wrapper that combines:
- your allocated FT tokens, and
- the on-chain right to redeem your original capital at par
Here’s how you can use it:
- Hold: Keep your FT tokens inside the NFT. While held, the tokens are not freely tradable, but you retain full redemption rights. You participate in FT’s upside while preserving the option to redeem your original contribution later.
- Divest / Redeem: At any time, you may redeem by returning the FT tokens held inside the NFT to the protocol. The corresponding FT tokens are burned, and you receive your original contributed asset (e.g., USDC, ETH) back at par. Once redeemed, both the FT tokens and the redemption right are extinguished.
- Unlock & Trade: You may withdraw all or part of the FT tokens from the NFT. Any FT withdrawn becomes freely tradable. In doing so, you permanently forfeit the redemption right only for the withdrawn portion, and the backing capital for that portion is released to the protocol. Any FT remaining inside the NFT continues to carry the Perpetual PUT.
Important: FT tokens acquired on the open market do not carry redemption rights. Only FT tokens held inside the NFT minted during the primary raise are eligible for the Perpetual PUT.
How do I fund my purchase?
We will display payment information when you complete your registration for the Token Sale. Eligible purchasers can pay with Tether (“USDT”) or USD Coin (“USDC”). USDC and USDT prices may fluctuate slightly due to the use of on-chain oracles.
You must also have sufficient ETH in your wallet to cover the Ethereum network gas fees when submitting your transaction. If your wallet does not have enough ETH for gas, you will not be able to submit either USDT or USDC for purchase.
Sale Structure: How does Filling Up from the Bottom work?
Filling up from the bottom maximizes the number of individual participants in a sale while still allowing for participants with more capital to express their demand. Using a water-filling mechanism, allocations are distributed evenly from the bottom up, so each participant receives an equal amount first, before larger allocations are gradually filled. For more information on how it works, see here: https://blog.coinlist.co/filling-up-from-the-bottom-a-new-mechanism-for-allocating-tokens/.
When do I need to fund my purchase?
To participate in the Flying Tulip Sale on CoinList, users will need to fund their purchase request with the minimum purchase amount ($100 USD worth of USDT or USDC). There is no pre-funding deadline, but users will need to fund their purchase request within the 5-day timeframe, from February 2 at 16:00 UTC to February 6 at 21:00 UTC, to be eligible for an allocation.
What is the unlock schedule?
100% at TGE, with tokens initially wrapped in the Perpetual PUT structure.
Where will the FT NFT token be distributed?
The NFT will be distributed to the non-custodial external wallet you provide during the token sale period.
Can I participate in the sale without going through KYC?
No, participation in the sale requires completion of KYC/AML (Know Your Customer/Anti-Money Laundering) checks for all participants.
Which jurisdictions are not eligible to participate?
Afghanistan, Angola, Canada, Central African Republic, Congo, Congo (Dem. Rep.), Côte d'Ivoire, Cuba, Guinea-Bissau, Iran, Iraq, Korea (North), Lebanon, Liberia, Libya, Mali, Myanmar, Nicaragua, Somalia, South Sudan, Sudan, Syrian Arab Republic, United States, Venezuela, U.S. Virgin Island, Yemen, Zimbabwe