Flying Tulip, a new on-chain trading platform built on the Sonic (S) layer-1 blockchain, has opened its first public fundraising round, targeting U.S.-based investment funds.
The project is led by Andre Cronje, co-founder of Sonic Labs, who issued the call for investors in an August 14 post on X.
Designed as a high-performance decentralized exchange (DEX), Flying Tulip integrates a synthetic delta-neutral liquidity pool underpinned by staking yields. The platform is set to support spot and perpetual trading, lending, and options, while offering leverage of up to 1000x. Its adaptive liquidity system is aimed at reducing impermanent loss and improving capital efficiency to match the speed and depth of centralized exchanges.
Flying Tulip is now raising capital. If you are a USA based fund interested in investing, reach out to venture@flyingtulip.com
Flying Tulip is a high-performance full featured exchange, built entirely on-chain, with liquidity powered by a synthetic delta-neutral liquidity pool…
— Andre Cronje (@AndreCronjeTech) August 14, 2025
According to Cronje, proceeds from the raise will be directed toward Flying Tulip’s yield-generating strategies. Only the yield, he noted, will be used for marketing campaigns, token liquidity support, launchpad incentives, and token buybacks.
The project’s native token, FT, will have a fixed supply, evenly distributed between investors and the project’s foundation. There will be no inflationary issuance or rewards-based minting. Token holders will retain a perpetual right to sell their FT back at the original investment price in assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USD Coin (USDC), Ethena USDe (USDE), USDS, or ftUSD. The token has not yet been launched, and the team has cautioned against scams impersonating its branding.
Flying Tulip’s trading engine employs an adaptive curve automated market maker (AMM) that can toggle between two pricing models depending on market volatility, aiming to deliver tighter spreads for traders and higher yields for liquidity providers.
Additional features include non-custodial wallet integration for user-controlled assets, dynamic loan-to-value ratios to minimize liquidation risk, and compliance-focused tools such as tax reporting and Office of Foreign Assets Control (OFAC) screening.
Meanwhile, Sonic Labs announced a 190.5 million S token airdrop to incentivise user and developer activity across its expanding Web3 ecosystem, with eligibility extended to select global participants.
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