FlashTrade, a Solana perpetuals protocol, is shutting down. Founder Anas said on X that he plans to sell the project's tech stack to compensate FAF holders, citing internal team rifts, a shrinking market and chronic losses. Anas also criticized the Solana Foundation for what he described as indifference, while Solana co-founder Anatoly Yakovenko responded that the foundation cannot determine a product's success — its role is go-to-market support and exposure at launch, with conversion depending on the product itself.
Anas, founder of Solana perpetuals protocol FlashTrade, said on X that the project is shutting down and that he is looking to sell its existing tech stack to compensate FAF holders.
He cited deep internal disagreements within the team, a shrinking market and a chronic lack of profitability as reasons for the closure. Anas added that what hurt him most personally was what he described as indifference from the Solana Foundation. In his post, he said the foundation pours its full support behind one team, believing that approach helps Solana succeed. He was careful to stress that he does not blame the foundation for the project's failure — and admitted he may have been too emotional about the matter.
Solana co-founder Anatoly Yakovenko pushed back. The foundation, he said, cannot decide whether a product succeeds. Its main role at launch is to assist with go-to-market efforts and expand exposure; turning that attention into users ultimately depends on the product itself.
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