FT just burned ~$900m of tokens, reducing FDV to ~$100m. txid This is a complete non-event. Tokenomics are not one size fits all. FT tokens could only become pseudo-supply via PUT options. There is no other way for tokens to exist. They are either backed by a PUT
It has been 17 days since Flying Tulip launched. The early picture is straightforward: community retention has been strong, operating income is above current cash burn, and the first product is live and already generating revenue. Markets were weak across this window, which mostly showed up in earlier private commitments
As of February 20, the total amount raised stands at $183,897,578.66. The public sale was structured with a $1B maximum deposit cap (a cap, not a “we must raise this much” target). The capital already raised is sufficient to continue executing and delivering our product roadmap. The
We launched Flying Tulip’s Capital Allocation as a mechanism, not a fundraiser. The output wasn’t “a token buy”. It was a Perpetual PUT Option, represented onchain by an ERC‑721 NFT (“ftPUT”) that encodes a standing redemption right (collateral denomination + remaining backing + remaining wrapped FT + strike reference), and
If you participated in Flying Tulip’s Capital Allocation, you didn’t just buy a token, you minted a Perpetual PUT position. An on-chain, permanent redemption right attached to primary‑issued FT. That position is represented as an ERC‑721 (ftPUT). It encodes your capital protection by including information