Flying Tulip opens public token sale with $1B FDV cap Feb 16

Flying Tulip public token sale Feb 16, $1 billion FDV cap

Developer Andre Cronje’s Flying Tulip will open a public token sale for Flying Tulip (FT) on February 16, 2026, with a $1 billion fully diluted valuation cap and access open to all users, as reported by Incrypted. The project frames FT as the network’s native token for a broader DeFi build-out, with sale mechanics intended to balance access and risk.

The sale structure places emphasis on transparent terms and capped valuation at launch. Details released across crypto trade publications indicate a design meant to broaden participation while defining redemption mechanics up front.

How FT’s perpetual put redemption protects contributors and its limits

As reported by The Block, Cronje describes FT’s “perpetual put” as an on-chain redemption right allowing primary-sale buyers to burn FT and redeem their original contribution, subject to reserves and protocol rules. The model channels reserves to generate yield that, in turn, funds operations and buybacks rather than relying on speculative price action.

The protection is conditional. Redemptions depend on reserve liquidity, any protocol rate limits, and the availability of backing assets; it is not a guaranteed price floor in all scenarios.

Research commentary has cautioned that concentrated redemptions during stress events could strain reserves or slow processing. Hazeflow Research highlights these operational risks as central to whether a perpetual put can remain orderly under pressure.

Participation, institutional backing, and risks to monitor

Sale access, eligibility, timing, and Andre Cronje’s FT token basics

The public sale is slated to begin on February 16 and is described as open to all participants, according to CoinGabbar. Timing and access descriptions in coverage indicate broad eligibility, subject to each participant’s local rules.

Token design focuses on redemption rights and performance-based incentives. Blocmates notes the absence of upfront team allocations, with revenue intended to fund buybacks and align longer-term incentives. These mechanics aim to mitigate early supply overhang while emphasizing transparent reserve use.

Backers like Brevan Howard Digital and risk checklist

Institutional participation has been cited in announcements that include firms such as Brevan Howard Digital, according to PR Newswire. Editorially, this is framed as support for transparency in reserves and incentive alignment. Said Andre Cronje in an investor update: “This reflects continued institutional interest in verifiable onchain market structure where risk, reserves, and incentives are observable rather than assumed.”

Analyst coverage has also stressed prudence around valuation and execution. Dapp.Expert characterizes a $1 billion FDV at public sale as ambitious for a still-developing stack, and flags technical, liquidity, and regulatory risks that could affect reserves, redemptions, and derivative or stablecoin modules. These considerations suggest investors should monitor reserve disclosures, audit outcomes, and any stated rate limits closely.