Andre Cronje-backed Flying Tulip raises $200M at $1B valuation -

Andre Cronje-backed Flying Tulip raises $200M at $1B valuation

Key Takeaways

Flying Tulip, backed by Andre Cronje, raised $200M at a $1B valuation.
The project will launch ftUSD on Sonic Labs while scaling its DeFi infrastructure and ecosystem.

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.

Andre Cronje-backed Flying Tulip raises $200M at $1B valuation

Key Takeaways

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