AC's DeFi project Flying Tulip has completed $225.5 million in institutional financing, with a valuation of $1 billion

According to The Block, the DeFi platform Flying Tulip, founded by Andre Cronje, has completed $225.5 million in institutional financing, with a valuation of $1 billion. The project has raised an additional $50 million through the Impossible Finance platform and plans to conduct a public offering via CoinList. It has currently received over $1.36 billion in investment intentions, with approximately $400 million remaining.

The price of the Flying Tulip token is fixed at $0.10, and all investments come with a "perpetual put option," allowing investors to redeem their principal at any time. The platform plans to deploy funds in on-chain strategies, targeting an annual return of 4% to support the platform's development.