Solana Perpetual DEX FlashTrade Shuts Down Amid Team Disputes

FlashTrade ceases operations citing internal conflicts and unprofitability, seeking to sell tech stack to repay holders. Solana co-founder clarifies foundation support limits.

Woofun AI reports that Anas, founder of the Solana-based perpetual contract protocol FlashTrade, announced the project's shutdown on August 9th. He attributed the closure to severe internal team disagreements, a shrinking market, and prolonged unprofitability, while seeking to sell the technology stack to compensate FAF holders. Anas expressed personal frustration regarding the Solana Foundation's perceived indifference, though he clarified he did not blame the foundation for the failure. Anatoly Yakovenko, co-founder of Solana, responded by stating the foundation cannot guarantee product success, noting its role is limited to assisting with go-to-market strategies and visibility, with user conversion ultimately depending on the product itself.