Solana Perpetual DEX Flash Trade to Shut Down Unless Acquired

ChainCatcher report: Solana perpetuals DEX Flash Trade announced on Friday that it will shut down operations unless a buyer is found. The team stated that this decision is not due to financial reasons but rather based on market direction, declining participant numbers, and an assessment of the overall crypto market trend. Flash Trade is seeking to sell its technology stack, brand, and intellectual property, with proceeds to be distributed proportionally to FAF token holders—no portion will be taken by the team, and team tokens are excluded from distribution. No specific timeline has been set yet; withdrawal functionality remains open and users will be given clear advance notice. Operational details—including closure of new positions and position settlements—will be discussed in a call with token holders on Monday. The founder will also host an AMA on X on August 10 at 16:00 UTC. Previously, the project explored freezing the AMM via MetaDAO to return funds proportionally, but this effort was unsuccessful. The three-month vesting period for tokens has also been canceled. Flash Trade has never raised external funding and has distributed approximately $520,000 in USDC revenue shares to FAF holders since its inception.