Sonic Labs’ Flying Tulip raises funds for on-chain exchange

Flying Tulip, a chain trading platform founded by the co-founder of Sonic Labs, Andre Cronje, began to raise capital to support its launch and expansion.

In a August 14 job On X, Cronje invited funds based in the United States to contact the team, marking the first public fundraising effort of the project.

According to the details shared by Cronje and the project, Flying Tulip is fully built on the Sonic (S) Layer 1 blockchain and will provide a complete and complete decentralized exchange. Its liquidity model is powered by a synthetic Delta neutral pool supported by the yield yield, allowing features such as spot and trading, loans and perpetual options.

With leverages up to 1000x and adaptive liquidity which reduces impermanent loss and stimulates the effectiveness of capital, the architecture of the platform aims performance in the centralized exchange.

Use of backgrounds and tokens models

Cronje explained that the funds collected would be to Flying Tulip performance strategies and that only the yield will be used for marketing, token liquidity, launch incentives and redemptions. The native token of the project, FT, will also have a fixed offer between investors and the foundations, without inflation or incentive issuance.

The holders will have the perpetual right to sell tokens at the original investment rate in Bitcoin (BTC), Ethereum (Ethn), Solana (GROUND), USD part (USDC), Ethena Usde (TO USE), USDS or FTUSD. The FT token has not yet been launched and the team has warned of scams using its name.

Market ambition and competitive advantage

The adaptive curve of Flying Tulip switches between two pricing models according to the volatility of the market, offering traders better prices and increasing yields for liquidity suppliers.

The other features include non -guardian portfolios for user control, loan / dynamic value ratios to reduce the risk of liquidation and hybrid compliance features such as tax reports and control of control of foreign assets.

The community has responded with great optimism, a lot comparing the objectives of Flying Tulip to a decentralized Version of GMX and Binance, which does not have the risk of centralized guard. However, its dependence on precise and resilient oracles for pricing and volatility data in real time will be a critical factor for its success.