Flying Tulip (FT)

Flying Tulip is a comprehensive DeFi hub designed to unite all the major DeFi tools within a single app.  It is founded by Andre Cronje, Co-founder and Architect of Sonic Labs, and Yearn Finance. 

The platform aims to build the following features:

• Trading (Hybrid AMM + CLOB)
  A single venue combining AMM and limit order book, routing trades automatically based on depth and price. The AMM adapts to market conditions, with a UI focused on easy, low-friction access;
   
• Lending (Impact-Based + Generalized)
  A money market that sets borrow limits using slippage and volatility, supports same-asset borrowing for hedges, and integrates with ftUSD to boost liquidity and yield;
   
• Perps
  Perpetual markets settle via opt-in LPs and the AMM/CLOB for on-platform price discovery, permissionless listings, and native handling of funding, margin, and execution;
   
• Insurance & Options (Coming)
  Planned additions include insurance and options, though no design or timeline details are available yet.

Learn more about Flying Tulip features in its docs.

The Flying Tulip crypto project also introduced its own stablecoin, $ftUSD, backed by tokenized delta-neutral LP positions. $ftUSD serves as the platform’s primary quote and settlement currency, and its built-in yield engine is designed to enhance liquidity and enable tighter pricing across markets.

🪙 Flying Tulip token: The $FT token serves as a value-accrual asset within the Flying Tulip ecosystem. Its supply is dynamically tied to the amount raised, while continuous buybacks from protocol revenue and yield create deflationary pressure and directly reward holders. Unlike typical projects, the team and foundation only earn $FT through these buybacks, meaning token value growth is fully aligned with real protocol performance and cash flow generation.

Flying Tulip launched its public sale at a $1B target valuation under a new “PUT” model, where $FT supply expands in proportion to the amount raised. Each purchase mints NFT-wrapped FT tokens with principal protection, letting holders redeem at par while tokens remain inside the NFT. More info about the Public Sale can be found in the docs.

Considering this info, the CoinLaunch team analyzed Flying Tulip and identified some pros and cons to consider before participating in future token sales: 

✅  Flying Tulip pros: 

• Interesting concept and design of the project;
• Users have downside token protection after sale;
• The project was created by the founder with a solid work background (Ethereum Foundation, Sonic Labs);
• No token inflation (100% will be unlocked at TGE);
• Good Influencer Marketing and PR Performance;
• Has reputable top-tier backers (DWF Labs, Nascent, Hypersphere Ventures).

📛 Flying Tulip cons: 

• No public security audits;
• No product yet;
• Weak SEO Marketing Infrastructure, and SMM;
• High FDV and Market Capitalization ($1B);
• The sale model is tied directly to the protocol’s revenue, which currently is zero;
• No reputable partners;
• Very low Growth Marketing score.