Andre Cronje's Flying Tulip Token Takes Flight with $1B Valuation

The Flying Tulip token has entered the market, marking the token generation event (TGE) for Andre Cronje's latest DeFi project. This development comes after the project raised close to $300 million in funding.

Flying Tulip is positioned as a DeFi 'super app,' aiming to bring spot trading, perpetual derivatives, and lending into a single interface. The project has already gained significant traction, with its public sale price set at $0.10.

According to the token's unique design, each FT token is backed by a corresponding put option, making every token effectively collateralized by its own $0.10. This innovative approach is expected to align participation more closely than traditional token models.