Flying Tulip, Andre Cronje’s latest project, secures $200M funding round valuing it at $1B.
Flying Tulip, a DeFi technology company backed by Andre Cronje, raised $200 million at a $1 billion valuation. The project is launching on Sonic Labs before expanding to other chains, with plans to debut ftUSD, a native stablecoin designed for yield-generating opportunities within an integrated ecosystem.
Sonic Labs provides the performance infrastructure for Flying Tulip’s operations, with scalability aimed at supporting complex financial protocols. The company is incorporating features such as adaptive curve, automated market makers, and dynamic loan-to-value money markets to enhance trading efficiency.
Flying Tulip is also designed as a full-stack onchain exchange, integrating spot trading, derivatives, lending, stablecoins, and insurance into a single cross-margin system.
