Flash Trade to Wind Down Unless Acquired: Solana Perpetuals Exchange Closes Shop

Flash Trade, a Solana perpetuals exchange, announced on Friday that it will wind down operations unless it finds an acquirer. The decision was not driven by monetary reasons but rather the team's direction and their read on the market.

The team said they explored freezing the automated market maker with MetaDAO so funds could be returned to holders pro rata, but this turned out to be impossible. They also removed the three-month delay on token staking, allowing holders to unstake immediately.

Flash Trade has not set dates for winding down operations and will give clear notice before any changes. The team is now pursuing a sale of its tech stack, brand, and intellectual property, with proceeds going to FAF token holders pro rata. Team tokens will be excluded from the distribution.