🌹 What is Cronje building?

Andre Cronje is back with another experiment. His new project, Flying Tulip, has already raised $200M in seed funding and is aiming for $1B. But the real story isn’t the size of the raise - it’s the financing model.

➡️ A new way to fund protocols
Instead of short-term liquidity or aggressive tokenomics, Flying Tulip is built for self-sustainability. Investors buy $FT, and the capital is deployed into DeFi strategies (Aave, Ethena, Spark). The yield (~4% annually) covers operating costs and buybacks.

➡️ Investor protection built-in
Each token comes with a perpetual put option: if the market price drops below entry, holders can redeem their investment. Tokens used in redemptions are burned, adding deflationary pressure.

➡️ Deflation from day one
Selling tokens on the market removes redemption rights and triggers buybacks plus burns. This shrinks supply both from investor exits and protocol mechanics.

➡️ 100% allocation to investors
The team receives no tokens at launch. This means higher volatility early on, but over time part of the supply shifts to the protocol and is also burned.

➡️ The mission of Flying Tulip
To build a full-scale on-chain exchange—spot, derivatives, options, lending, stablecoins, and insurance—all backed by a unique funding model.

Cronje is once again rewriting the playbook. Instead of tokens as just fundraising tools, he’s turning them into mechanisms for both capital protection and project sustainability. If Flying Tulip works, it could change how protocols are launched and funded across Web3.

Not just another exchange - this is a test of whether the market is ready for a new logic of tokens.

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🏦 BounceBit rolls out V3 with Big Bank model

BounceBit has launched V3, introducing a perp DEX with a liquidity pool that will fund token buybacks, alongside a new $BB token standard.

➡️ Liquidity flows are calculated on the BounceBit Chain
➡️ Value is concentrated into $BB as the core network token
➡️ Perp DEX structure ties trading activity directly to buyback pressure
➡️ $BB positioned as the main settlement and value accrual layer

This blend of perpetuals, buybacks, and a native token standard turns BounceBit into something closer to a full-stack “banking” model on-chain.

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🔥 Lighter goes live with public mainnet

After 8 months in closed beta, Lighter has officially launched its mainnet, opening access to all users. The beta already attracted 188,000 accounts and 50,000 active traders.

➡️ Mainnet is now fully open, no deposit caps or invite codes
➡️ Points Season 1 ended, Season 2 is live until end of 2025
➡️ Referral program continues
➡️ Zero fees for regular traders, only API, MM and HFT pay commissions
• Fee distribution data for LLP holders and protocol treasury coming soon

Points are trading at $40–50 on secondary markets. All eyes now shift to TGE.

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🐾 Why HypurrNFTs held the 50K floor

The floor didn’t crack because the market is starting to price in future flows, not just JPEG hype.

➡️ Ecosystem protocols are signaling potential 5% airdrops tied to HypurrNFTs. If FDV across Hyperliquid’s stack hits $5B, that’s ~$55K per card in token value.
➡️ Kinetiq alone could represent a multi-billion FDV, pushing rewards even higher.
➡️ Opensea’s survival boost came from HypurrNFTs, with day-one volume after the drop surpassing all of August.
➡️ And the wild card: a possible HYPE 2.0 airdrop.

In this light, 50K looks less like a ceiling and more like a staging area.

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