AC "Never Breaks the Price" new project Flying Tulip has broken the price, currently quoted at $0.0989

GateUser-6433627c · 2026-02-24T06:00:56+00:00

The DeFi project Flying Tulip launched on TGE on February 24, but the FT token quickly fell below $0.1, breaking its promise of "never breaking the peg." The project integrates multiple financial functions, focusing on a "native yield" model, and offers 100% principal redemption rights.

GateUser-6433627c

2026-02-24 06:00:56

Abstract generation in progress

On February 24, according to market data, DeFi architect Andre Cronje’s new project Flying Tulip, which claims to be “never losing its value,” had its TGE last night. Shortly after launch, FT dropped below the issuance price of $0.10 on the chain, breaking its slogan of “never losing value, capital protection.” FT is currently priced at approximately $0.0989, with a circulating market cap of about $200 million, and a fully diluted valuation still around $1 billion. Flying Tulip positions itself as an on-chain financial system, integrating spot trading, lending, perpetual contracts, and its own stablecoin ftUSD. It emphasizes a “native yield” model, deploying 100% of raised funds into low-risk strategies like Aave and Lido, using excess yields to support operations and token buybacks, with no team pre-mining or inflation. Its core selling point is the ftPUT mechanism: public sale participants receive FT with a permanent, unconditional 100% principal redemption right, allowing them to burn FT at any time and redeem BTC/ETH/SOL/stablecoins at the original investment value. The theoretical on-chain bottom price is $0.10.

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