Understand Flying Tulip's Refund Mechanism 🧵 When you participate in the @flyingtulip_ sale, you don't immediately receive freely tradable $FT. Instead, you mint an FT NFT, which encapsulates your allocated amount and embeds a perpetual redemption right (perpetual put option). You can think of it as an on-chain encapsulation containing: • Your allocated FT tokens • The right to redeem your original investment at par value You have three options: 1️⃣ Hold Keep your FT in a perpetual put option. You can participate in token price increases while retaining the right to redeem later. 2️⃣ Redeem You can burn the FT associated with your original investment at any time and redeem your original assets at par value. Redeemed FT will be destroyed. 3️⃣ Unlock and Trade Withdraw your FT from the put-protected pool. You will relinquish your redemption right, your funds will be released to the protocol, and FT tokens will be freely tradable. As long as your tokens remain in a perpetual put option structure, you can choose to redeem them according to the protocol rules. You can redeem any number of tokens at any time. Note: FT tokens purchased on the open market are not eligible for redemption. Only major contributors have redemption rights. The sale will begin on Monday: