ChainThink reports that on August 9, according to X platform, Anas, founder of Solana perpetuals protocol FlashTrade, announced the shutdown of the project and is seeking to sell the existing tech stack to compensate FAF holders.
Anas attributed the shutdown to serious internal team disagreements, a shrinking market, and prolonged lack of profitability.
He also mentioned that the Solana Foundation provided insufficient support for the project, but emphasized that he was not blaming the foundation for the project’s failure, stating that the remarks were emotional.
Solana co-founder Anatoly Yakovenko later responded that the foundation cannot determine whether a product will succeed; its primary role is to assist with go-to-market efforts and increase visibility at launch, and ultimately, converting attention into users depends on the product itself.