Solana Perps Protocol FlashTrade to Wind Down; Founder Says Tech Stack Sale May Compensate FAF Holders

FlashTrade, a Solana-based perpetuals protocol, will shut down and look to sell its existing technology stack in an effort to compensate FAF holders, founder Anas said in a post on X, according to Odaily Planet Daily. Anas attributed the decision to internal team disputes, a shrinking market, and an extended period without profitability. He also said the toughest part personally was what he described as the Solana Foundation's lack of engagement with the team. He claimed the foundation fully backs only one team because it believes that approach best supports Solana's growth, while adding he is not blaming the foundation for FlashTrade's failure and acknowledged he may have been overly emotional. Solana co-founder Anatoly Yakovenko later responded that the foundation cannot predict whether a product will succeed. He said its main role is to help with go-to-market efforts and boost visibility at launch, but that turning attention into users ultimately depends on the product.