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Flying Tulip

Andre Cronje's DeFi platform combining spot, derivatives, lending, stablecoins, and insurance. Supports up to 1000x leverage. Raised $200M seed at $1B FDV. Launching on Ethereum, Avalanche, BNB Chain, Sonic, and Solana.

Overview

Pricing Model
per-trade

Products & Services

ftUSD Stablecoin

exchange

Yield-bearing dollar-pegged stablecoin and core settlement asset. Earn yield by staking into sftUSD.

Free tier available Free to mint and use as trading asset
  • Dollar-pegged stablecoin
  • Yield bearing (stake into sftUSD for APY)
  • 8.02% APY on Ethereum, 29.36% APY on Sonic (June 2026)
  • Core settlement asset for all Flying Tulip products
  • No KYC required
Learn more

Margin Lend

exchange

On-chain margin lending platform allowing users to earn yield by lending assets or access leverage by borrowing.

Free tier available
  • Deposit to earn yield on lending
  • Borrow for leverage
  • TVL $4.89M (June 2026)
  • Ethereum and Sonic chains
  • No KYC required
Learn more

FT Token

exchange

Native protocol token. Each FT backed 1:1 by a Perpetual PUT (collateral). Token holders benefit from protocol revenue via buyback and burn.

$0.1 / one-time
  • Perpetual PUT collateral structure ($0.10 floor)
  • 12.18B tokens burned via buyback
  • Revenue share via open market buyback
  • Traded on Ethereum, Sonic, BNB Chain, Avalanche, Base
Learn more

Company Information

Legal Name
Flying Tulip
Headquarters
New York City, United States
Team Size
11-20
Primary Timezone
America/New_York

Founding

Founder
Andre Cronje
Background
South African developer known as Godfather of DeFi. Founded Yearn Finance (YFI), Keep3rV1, and Sonic Labs. Law degree but self-taught programmer.

Competitive Analysis

Proposition: Integrated spot, derivatives, lending, stablecoin, and insurance with hybrid AMM+CLOB, 50x+ leverage, and 0.02% fees

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