PANews reported on October 4th that Pine Analytics released an analysis of the fundraising and mechanisms for the Flying Tulip smart trading protocol . The report stated that Flying Tulip intends to raise $1 billion, with 10 FT tokens for every dollar (initial price $0.10). Any shortfall will be proportionally reduced. Funding assets include USDC, USDT, USDS, USDDe, ETH, SOL, AVAX, and S. Original subscribers will receive a transferable NFT wrapped in a FT token and a redemption PUT. The FT token remains in the NFT and can be redeemed for an amount equal to the invested assets; withdrawing the token forfeit the PUT. The annualized return on the raised assets is expected to be approximately $44.27 million, with priority for the repurchase and destruction of FT tokens, covering approximately $500,000 in OpEx. The team and foundation will not pre-allocate funds; instead, they will receive funds from repurchased FT tokens in a 40:20:20:20 ratio from protocol revenue.
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