🃏FlyingTulip: Presale Guide released
Impossible Finance collaborates with Flying Tulip to present a unique sale format. Unlike a typical ICO, investors can contribute funds with 100% principal protection.
200m allocated each to Impossible and CoinList
KYC required, 1% fee charged for Impossible (e.g if you deposit $10k, fee is $100)
Interest WL form:
:-- Supporter Whitelist: Addresses will be determined based on pre-set criteria, and no KYC required
- Based on Onchain activities
- Result will be published soon
:-- Public Sale: Open to everyone, no KYC required
The team's success is 100% tied to the protocol's performance and revenue-driven buybacks.
- Zero Team unlock at launch
- Minimal to no Inflation - How:
The supply constantly decreases when someone exits their option, FT tokens are burned, and you get your money back. Also, tokens will be bought back from the market using protocol revenue.
--INFO
NFT can be used to redeem Capital
Tokens can be sold for profit if you want to exit
-- Pros
🚦Refunds are available indefinitely
🚦The next project by sonic Andre Cronje
🚦100% unlock on TGE
--Cons
🚦Negative sentiment due to very large presale.
🚦1B FDV is high for a presale (justification; capital is protected)
🚦Highly experimental, as any little mistake on their part can lead to loss of funds (partially or fully), not limited to smart contract risk.
🚦No actual funds are raised, even though they raised $ 200 million; it's more like providing liquidity than an investment, since you can withdraw your stables or ether at any time.
DWYOR! sharing cos I'm participating.
TGE is planned within a couple of months
🃏Flying Tulip by Andre Cronje: Fundraising Model Experiment
Raised $200 million in seed round at a $1B valuation and aims to raise another $800M at same FDV of $1B.
Flying Tulip is an on-chain exchange that offers spot trading, perpetual contracts, lending, options, and structured yield products.
- Based on principal protection derived from Cronje's past experience
- Whether it succeeds is still unknown.
Investor principal guaranteed *on-chain redemption rights* provided (downside protection + unlimited upside), granting investors on-chain redemption rights (perpetual put) that allows them to burn tokens at any time to get their initial principal back.
- Prevents project from using funds raised, instead, funds are deposited in a low-risk Defi strategy like Aave, among others, generating ~4% which covers operating expenses, buybacks, and incentives.
--🪧 Core strategy --
- From the investor's perspective, there is principal protection, limiting downside risk. (burn to receive capital)
- From the project's perspective, the interest income generated can be used for buybacks and incentives, creating a growth flywheel. (Annual return for operation)
In the end, Flying Tulip is a long-term experiment based on principal protection.
Crazy out here fam, will update as more info rolls in. 🫡
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