This @flyingtulip_ needs to be explained to everyone. At first glance, the fundraising looks scary, like "doom" + "massive dump," but that's not the case because things aren't as they appear on the surface. This round of fundraising is actually $10 million: $2 million from institutions and $8 million from retail investors (though honestly, I'm not sure if retail can contribute that much - -). This $10 million isn't for the team to spend; it's purely sitting in the account to earn yield + interest (U.S. Treasury bonds + some on-chain yield, like allocating a portion to Ethena or Falcon, etc.). After TGE, if any investor isn't optimistic about Tulip or if the price drops below the issuance price, they can redeem their investment at the original price through a put option without losing a penny. The most you'll lose is the time cost + opportunity cost of your funds. If all investors redeem, the team won't get a single penny. Moreover, whenever an investor exercises their redemption rights, the tokens they hold are directly burned. So FT tokens will undergo a deflationary process, with the total supply continuously decreasing as redemptions occur. The project itself is also quite interesting. That night, I stayed up late chatting with @AndreCronjeTech for over half an hour. He said that when he worked on YFI, KP3R, and Solidly, those projects were also a process of learning as he went. Now, he has a new understanding of how on-chain financial systems operate and capital efficiency. So "Flying Tulip" is essentially the culmination of ideas from his previous works. The protocol integrates all the major functions of current DeFi—spot trading, lending, perpetuals, yield, options, and on-chain insurance—all in one! The release of capital efficiency has reached a new level thanks to the synergy between these functional modules. So the price/burn dynamics after the project launches will be an interesting aspect to watch. Another highlight, of course, is AC's return as the king of DeFi, pouring his efforts into creating what he considers his most important DeFi work. It'll be fascinating to see how it performs in this new era. Flying Tulip will definitely be deployed first on @SonicLabs, so around TGE, S might see some action. For those who don't want to participate in the FT dynamics, this could be a strategy to consider. After all, the token price is currently at a historical low for the past few years. Add it to your watchlist and Keep An Eye