Flying Tulip's Launch Challenges “Never Break” Promise.
The newly launched Flying Tulip (FT) token, created by DeFi developer Andre Cronje, has quickly drawn market attention after falling below its $0.10 initial offering price shortly after launch. The dip to around $0.0989 contradicts the project’s promotional claim of “never break” principal protection, raising questions about whether its stabilization model can withstand real market volatility.
Flying Tulip’s design includes the ftPUT mechanism, a perpetual redemption feature meant to allow investors to exit at their original investment value and automatically trigger buybacks when prices drop.
However, the token’s early decline has put this safeguard under scrutiny, with investors closely watching whether the reserve-backed buyback system can restore the price floor and maintain confidence in the project’s ambitious protection model.