SOL Perpetual DEX Flash Trade to Cease Operations Without Acquisition

Flash Trade halts operations citing market trends and low participation, seeking buyers for its tech stack. Proceeds from sale go to FAF holders; no external funding was raised.

Woofun AI reports that the Solana perpetual DEX Flash Trade will cease operations unless an acquisition party is identified. The team attributes this decision to shifting market trends, declining participant numbers, and the broader crypto outlook, rather than financial distress. Flash Trade aims to sell its technology stack, brand, and intellectual property, with proceeds distributed proportionally to FAF token holders. The team will retain no share of these funds, nor will their own tokens be included in the distribution.

While no specific timeline has been set, the withdrawal function remains active, with advance notifications promised. Operational details, including the closure of new positions and settlement of existing holdings, will be discussed during a call with token holders on Monday. The founder will also host an AMA on X at 16:00 UTC on August 10. Previously, the project explored freezing AMMs through MetaDAO to return funds proportionally, but this plan failed.

Additionally, the three-month delay for staking tokens has been removed. Flash Trade has never raised external funding and has distributed approximately $520,000 worth of USDC earnings to FAF holders since its inception.