Overview of Flying Tulip - Flying Tulip is an onchain exchange combining a volatility-aware hybrid AMM & CLOB, trade rebates, impact-based lending, and deposit & forget delta neutral lending and perps [1] - The platform aims to be a comprehensive DeFi solution, integrating various functionalities into a single exchange [1] Fundraising and Valuation - Flying Tulip successfully raised $200 million in its seed round [1] - The Fully Diluted Valuation (FDV) is $1 billion [1] - An additional $800 million will be raised through a public sale of $FT tokens, maintaining a $1 billion FDV [1] Tokenomics and Revenue Model - The team receives no initial token allocation [1] - Compensation is tied to open-market buybacks funded by protocol revenues [1] - Raised funds will be deployed into DeFi strategies, targeting a 4% annual yield [1] - Yield will finance operations, ecosystem incentives, and token buybacks [1] Platform Features and Advantages - Trading fees will be 002% or lower, positioning it as one of the lowest compared to major exchanges [1] - Leverage will be up to 50x+ [1] - The platform offers adaptive curve, integrated money market, leverage trading, perps and options [2] - No wallet required [2] Development and Deployment - The platform has been under development for months [1] - Initial deployment will be on Sonic before expanding to Ethereum, Avalanche, BNB Chain, and Solana [1] - The company has 15 employees and is actively hiring [1]