> For the complete documentation index, see [llms.txt](https://docs.flash.trade/flash-trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.flash.trade/flash-trade/flash-trade-protocol.md).

# Flash Trade Protocol

- [FAF Token](https://docs.flash.trade/flash-trade/flash-trade-protocol/faf-token.md)
- [FAF: An Ownership Token](https://docs.flash.trade/flash-trade/flash-trade-protocol/faf-token/faf-an-ownership-token.md): Flash Trade is building a protocol where token holders are real owners — not just speculators holding a governance token with no economic power.
- [Revenue Sharing](https://docs.flash.trade/flash-trade/flash-trade-protocol/faf-token/revenue-sharing.md)
- [FAFtarchy Governance](https://docs.flash.trade/flash-trade/flash-trade-protocol/faf-token/faftarchy-governance.md): Futarchy is a governance system where decisions are made through prediction markets instead of traditional voting. Think of it as "betting on beliefs" - the market decides what's best for the protocol
- [FAFtarchy Commandments](https://docs.flash.trade/flash-trade/flash-trade-protocol/faf-token/faftarchy-governance/faftarchy-commandments.md): Framework for Futarchy-Aligned Proposal Creation by the Core Team
- [Flash Labs](https://docs.flash.trade/flash-trade/flash-trade-protocol/faf-token/faftarchy-governance/flash-labs.md)
- [Voting on Proposals](https://docs.flash.trade/flash-trade/flash-trade-protocol/faf-token/faftarchy-governance/voting-on-proposals.md)
- [Technical Architecture of Staking](https://docs.flash.trade/flash-trade/flash-trade-protocol/faf-token/technical-architecture-of-staking.md)
- [Technical Architecture](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture.md)
- [Pool-to-Peer Mechanism](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/pool-to-peer-mechanism.md)
- [Liquidity Providing](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/liquidity-providing.md)
- [FLP Tokens](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/flp-token.md)
- [FLP](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/flp-token/flp.md)
- [sFLP](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/flp-token/sflp.md)
- [Contract Address](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/flp-token/contract-address.md): Contract addresses for Flash Trade liquidity tokens.
- [Crypto Asset-Backed Pools](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/asset-backed-synthetic-trading-and-pools.md)
- [Pricing Engine](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/pricing-engine.md): This document outlines our operational guidelines for handling price volatility and wide confidence intervals when utilizing the reported price provided by Pyth as our primary pricing reference.
- [Price Impact Fee](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/pricing-engine/price-impact-fee.md)
- [Virtual PNL Delay](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/backup-oracle.md)
- [Fee Distribution](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/fee-distribution.md)
- [Volatility based fee](https://docs.flash.trade/flash-trade/flash-trade-protocol/technical-architecture/volatility-based-fee.md)
- [Perpetuals Specifications](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications.md)
- [Market Hours](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications/market-hours.md)
- [Collateral Specification](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications/collateral-specification.md)
- [Fees](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications/fees.md): Flash Trade implements a dynamic fee structure across different asset pools. Understanding these fees is essential for optimizing your trading strategy.
- [Stop Loss/Take Profit Orders](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications/stop-loss-take-profit-orders.md)
- [Limit Orders](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications/limit-orders.md)
- [Max Profit](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications/max-profit.md): Every position has a hard cap on how much profit it can realize. That cap is set when the position opens, based on how much collateral the pool sets aside to pay you out.
- [Liquidation](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications/liquidation.md)
- [Margin Framework](https://docs.flash.trade/flash-trade/flash-trade-protocol/perpetuals-specifications/margin-framework.md)
- [Build On Flash](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash.md): The Flash Trade API is a REST, MCP, CLI, AI & LLM Integration, SDK, and Partner Referral Program for the Flash Trade perpetuals DEX on Solana.
- [AI & LLM Integration](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/ai-and-llm-integration.md): Give your AI agent full context on the Flash Trade API:
- [Flash Trade V2 API](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2.md): Build on the Flash Trade v2 perpetuals engine — REST + WebSocket.
- [Quickstart](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/quickstart.md): One golden path from an empty wallet to a trade and back to cash.
- [Signing & submitting](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/signing-and-submitting.md): How to decode, sign, and submit the transactions the API builds.
- [Core concepts](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/concepts.md): The mental model behind the API — read before you build.
- [The Basket model](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/concepts/basket-model.md): One account per wallet holds every position and order.
- [Funds lifecycle](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/concepts/funds-lifecycle.md): How collateral moves in and out — deposit, delegate, trade, withdraw.
- [Prices & markets](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/concepts/prices-and-markets.md): Where prices come from and how equity market hours are surfaced.
- [How transactions work](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/concepts/how-transactions-work.md): The build → sign → submit pattern, previews, and error surfaces.
- [Guides](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides.md): Task-focused recipes. Each shows the calls that matter and links to the reference for full fields.
- [Set up & fund a wallet](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/set-up-and-fund-a-wallet.md): Get a wallet from zero to trade-ready.
- [Open & close positions](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/open-and-close-positions.md): Open at market or limit, then close fully or partially.
- [Increase, decrease & reverse](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/increase-decrease-and-reverse.md): Resize an open position or flip its direction.
- [Limit orders](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/limit-orders.md): Place, edit, and cancel resting limit orders.
- [Take-profit & stop-loss](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/take-profit-and-stop-loss.md): Attach and manage TP/SL trigger orders.
- [Manage collateral](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/manage-collateral.md): Adjust margin to move leverage and liquidation price.
- [Discover markets & stay current](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/discover-markets-and-stay-current.md)
- [Read positions & orders](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/read-positions-and-orders.md): Read a wallet's positions, orders, and market data over REST.
- [Stream live state](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/stream-live-state.md): Subscribe to a wallet's basket over WebSocket.
- [Preview fees & PnL](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/preview-fees-and-pnl.md): Compute fees, exit fees, TP/SL PnL, and margin changes without a transaction.
- [Withdraw funds](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/guides/withdraw-funds.md): Pull collateral back out with the single-call withdraw flow.
- [API reference](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/reference.md): The canonical, exhaustive reference — one home per endpoint.
- [Conventions](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/reference/conventions.md): Rules shared by every endpoint — base URL, units, errors, enums.
- [Market data](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/reference/market-data.md): Health, tokens, prices, pool stats, and raw on-chain accounts.
- [Account & positions](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/reference/account-and-positions.md): The basket snapshot and the enriched positions / orders reads.
- [Previews](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/reference/previews.md): Read-only quote computations — fees, exit fees, TP/SL PnL, margin.
- [Trading](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/reference/trading.md): Canonical request/response for every trading endpoint.
- [Account & funds](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/reference/account-and-funds.md): Setup, deposit, delegation, and the withdrawal endpoints.
- [WebSocket](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/reference/websocket.md): The owner basket stream — message protocol and metric DTOs.
- [Errors](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/errors.md): HTTP errors, on-chain codes, and how to recover.
- [HTTP errors](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/errors/http-errors.md): HTTP status codes and the two error shapes.
- [On-chain error codes](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/errors/onchain-error-codes.md): Program error codes returned when a submitted transaction fails on-chain.
- [Recovery patterns](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-trade-v2/errors/recovery-patterns.md): Concrete fixes for the most common integration failures.
- [Flash SDK V2](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-sdk-v2.md)
- [Trader Interactions](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-sdk-v2/trader-interactions.md)
- [LP Interactions](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-sdk-v2/lp-interactions.md)
- [Revenue Interactions](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-sdk-v2/revenue-interactions.md): FAF token staking and the three claimable balances it unlocks — staking rewards, protocol revenue share, and referral rebates. This page covers staking, unstaking, and claiming each balance through Fl
- [Dynamic Pool & Token Data](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/flash-sdk-v2/dynamic-pool-and-token-data.md)
- [Partner Referral Program](https://docs.flash.trade/flash-trade/flash-trade-protocol/build-on-flash/partner-referral-program.md): A referral rebate system that rewards partners, trading interfaces, and integrators who build on Flash by earning rebates from trading activity generated through their builder code.
- [The Flash Beasts](https://docs.flash.trade/flash-trade/flash-trade-protocol/flash-beasts-mechanics.md)
- [On-Chain Address Directory](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory.md)
- [Verify on Solscan](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/verify-on-solscan.md)
- [Pools/LP Token Mints](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/pools-lp-token-mints.md)
- [Crypto.1](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/pools-lp-token-mints/crypto.1.md)
- [Virtual.1](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/pools-lp-token-mints/virtual.1.md)
- [Governance.1](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/pools-lp-token-mints/governance.1.md)
- [Community.1](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/pools-lp-token-mints/community.1.md)
- [Community.2](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/pools-lp-token-mints/community.2.md)
- [Trump.1](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/pools-lp-token-mints/trump.1.md)
- [Equity.1](https://docs.flash.trade/flash-trade/flash-trade-protocol/on-chain-address-directory/pools-lp-token-mints/equity.1.md)


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