According to The Block, the DeFi platform Flying Tulip, founded by Andre Cronje, has completed a $225.5 million institutional funding round, achieving a $10 billion valuation. The project has raised an additional $50 million through the Impossible Finance platform and plans to conduct a public offering via CoinList. It has already received over $1.36 billion in investment commitments, with approximately $400 million in funding capacity remaining. The Flying Tulip token is priced at $0.10, and all investments come with a "perpetual put option," allowing investors to redeem their principal at any time. The platform plans to deploy funds into on-chain strategies, targeting a 4% annual return to support platform development.
Flying Tulip, a DeFi Project by Andre Cronje, Valued at $10 Billion After $225.5M Raise
TechFlowShare
Summary
Flying Tulip, a DeFi project announced by Andre Cronje, has completed a $225.5 million funding round at a $10 billion valuation. The project's funding news also includes a $50 million raise through Impossible Finance, with a public offering planned on CoinList. Total commitments now exceed $1.36 billion, with $400 million still undrawn. The token price is set at $0.10, and all investments include a perpetual put option. The funds will be allocated to on-chain strategies targeting a 4% annual return.
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