PANews reported on January 29th that Flying Tulip, the unified on-chain financial system founded by Andre Cronje, founder of Sonic Labs, will launch a token sale on CoinList. This public sale aims to raise $200 million, representing 20% ​​of the total FT token supply (2 billion tokens). The token price is $0.10, corresponding to a FDV of $1 billion. The public sale will begin at 00:00 Beijing time on February 3rd and end at 05:00 on February 7th, with a minimum purchase amount of $100.

The tokens involved in this sale will be protected by a "Perpetual PUT" structure. The FT NFTs received by participants include redemption rights, allowing them to choose to hold or destroy the tokens to redeem funds at the original price, or unlock the tokens for free trading (after unlocking, the redemption rights will be lost).