Solana's perpetual DEX Flash Trade will be shut down unless a buyer is found

Solana perpetual contract DEX Flash Trade announced on Friday that it will cease operations unless a buyer is found. The team stated that this decision is not based on financial reasons, but rather due to market direction, a decrease in participants, and a judgment on the overall trend of the crypto market.

Flash Trade is seeking to sell its tech stack, brand, and intellectual property, with proceeds to be distributed proportionally to FAF token holders, with the team not taking a share, and team tokens not participating in the distribution. A specific timeline has not yet been determined, the withdrawal function remains open, and clear notifications will be issued in advance. Operational details (including new position closures, position settlements, etc.) will be discussed in a call with token holders on Monday, and the founder will hold an AMA on the X platform on August 10 at 16:00 UTC.

The project had previously explored freezing AMM through MetaDAO to proportionally return funds but was unsuccessful, and the three-month delay for token staking has been canceled. Flash Trade has never conducted external financing and has distributed approximately $520,000 USDC in revenue sharing to FAF holders since its inception.