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Andre Cronje: Flying Tulip reports strong protocol and put revenue growth

Andre Cronje: Flying Tulip reports strong protocol and put revenue growth
Flying Tulip posts strong protocol revenue

Andre Cronje, founder of Flying Tulip and former Chief Technology Officer (CTO) and board member of Sonic Labs, reported operational milestones after seven months since Flying Tulip’s seed raise and five months since the margin lending product launch.

According to Cronje, protocol revenue totaled $100,000, with an additional $1.44 million in put revenue and $1.34 million allocated for FT token buybacks and burns. He emphasized that FT has no vested tokens, minting, overhang, or new token emissions, underlining a model focused on clean revenue generation.

Cronje previously said that the platform aggregates liquidity from across the chain and uses an RFQ system for optimal swap execution rates, as detailed here. He has also explained that auto compounders provide a haircut to benefit non compounders, enabling more third party integrations and leverage, according to a recent article. These developments align with Cronje’s ongoing focus on product mechanics and revenue models.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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