Flying Tulip, an on-chain financial system founded by DeFi architect Andre Cronje, has launched a $10 billion public token sale. The project, which previously raised $200 million in a seed round and nearly $10 million in a presale, is offering tokens with a funding cap and fully diluted valuation of $1 billion. Flying Tulip integrates spot trading, margin lending, and its stablecoin, ftUSD, deploying funds into low-risk yield strategies. A key feature of the sale is the "ftPUT" model, an on-chain perpetual put option mechanism that allows token redemption at the original investment value, providing a 10-cent floor price protection. This mechanism triggers automatic buybacks if market prices fall below the threshold, emphasizing principal security. The Token Generation Event is set for February 23, with Flying Tulip currently operating on Ethereum, Base, and Avalanche, and plans to expand further.