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Solana perp DEX Flash Trade to wind down unless it sells its exchange

Flash Trade is pursuing a sale of its tech stack, brand, and intellectual property, with proceeds distributed pro rata to FAF holders while team tokens are excluded.

Reported · Written up by our desk · Market Structure

Solana perpetuals exchange Flash Trade said it will wind down unless it finds a buyer, adding that the move was not driven by money. The team is instead pursuing a transaction covering the exchange’s tech stack, brand, and intellectual property, and it said the sale proceeds, if any, would be distributed to FAF token holders on a pro rata basis.

Flash Trade said the team will not take a percentage of any proceeds, and team tokens will not participate in the distribution. It has not set dates for any wind-down steps, saying withdrawals will stay open and that it will provide clear notice ahead of changes, while the detailed operational plan will be discussed on a call with token holders.

The exchange said it will work out when new positions are disabled and how open positions will be settled, along with what liquidity providers need to do. It also said it will publish a write-up immediately after the Monday token holder call.

Flash Trade previously explored freezing its automated market maker via MetaDAO to return funds to holders pro rata, but said that approach was not possible. It also removed a three-month delay on token staking, enabling holders to unstake immediately, and said it has paid roughly $520,000 in USDC revenue share to FAF holders to date.

Latest closeSolana $73.58 ▲1.4%

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