Flash Trade to Wind Down Unless Buyer Steps In

Flash Trade, a Solana-based perpetuals exchange, has announced that it will wind down its operations unless a buyer is found. The decision was made due to various reasons including direction and shrinking market participants, according to the team.

The team stated that they have not set any specific dates for the closure, but will give 'clear notice well ahead of any change' to withdrawals. They also mentioned that whatever proceeds come from the sale of their tech stack, brand, and IP will be distributed to FAF token holders pro rata, with team tokens excluded.

Flash Trade has explored freezing its automated market maker (AMM) with MetaDAO so that funds sitting in the AMM could be returned to holders pro rata. However, this turned out not to be possible.

The exchange also removed the three-month delay on token staking, allowing holders who want to unstake to do so immediately.