> 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/~/revisions/xKAncpdYLJG7bPOyq6YW/readme.md).

# Introduction

Flash Trade is a decentralized asset-backed perpetuals and spot exchange on Solana that lets you trade with up to 100x leverage, low fees, and minimal price impact.

Flash’s trading activity is supported by a unique [pool-to-peer model](/flash-trade/~/revisions/xKAncpdYLJG7bPOyq6YW/flash-trade-protocol/technical-architecture/pool-to-peer-mechanism.md). [Liquidity providers](/flash-trade/~/revisions/xKAncpdYLJG7bPOyq6YW/flash-trade-protocol/technical-architecture/liquidity-providing.md) are rewarded with real yield generated from fees collected from trading activities. The protocol incorporates [dynamic pricing](/flash-trade/~/revisions/xKAncpdYLJG7bPOyq6YW/flash-trade-protocol/technical-architecture/pricing-engine.md) via Pyth and a novel backup oracle system to ensure maximum uptime.\
\
The [Flash Liquidity Pool](/flash-trade/~/revisions/xKAncpdYLJG7bPOyq6YW/flash-trade-protocol/technical-architecture/flp-token/flp.md) (FLP) was bootstrapped by minting out one-of-a-kind 3D yield bearing NFTs that evolved as the holders interacted with the protocol. Additionally, these NFTs acted as trading accounts on Flash storing all the important stats and unlocked rewards for NFT holders. Flash said farewell to our coveted [Flash Beast NFTs](/flash-trade/~/revisions/xKAncpdYLJG7bPOyq6YW/flash-trade-protocol/flash-beasts-mechanics.md) with our introduction of the FAF token ushering in a new era of [rewards, utility, and governance](/flash-trade/~/revisions/xKAncpdYLJG7bPOyq6YW/flash-trade-protocol/tokenomics/reward-utility-and-governance.md) for staking FAF tokens. NFT were given two ways to claim [Burn & Stake or Burn & Claim](/flash-trade/~/revisions/xKAncpdYLJG7bPOyq6YW/flash-trade-protocol/tokenomics/faf-claim-for-beast-nft-holders.md).

## Explore Our Guides & Information

<table data-view="cards" data-full-width="false"><thead><tr><th></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="files"></th></tr></thead><tbody><tr><td>Getting Started</td><td><a href="/pages/BR7IdAzLSKse1Sepxt3m">/pages/BR7IdAzLSKse1Sepxt3m</a></td><td><a href="/files/e6teW39dvPHfoQMMvfnZ">/files/e6teW39dvPHfoQMMvfnZ</a></td></tr><tr><td>Tokenomics</td><td><a href="/pages/FDFMofaM3i4M1OoKfdvZ">/pages/FDFMofaM3i4M1OoKfdvZ</a></td><td><a href="/files/ANWuDcbI2fzywhyGkB7f">/files/ANWuDcbI2fzywhyGkB7f</a></td></tr><tr><td>Ecosystem Partners</td><td><a href="/pages/yIgcClsXYwk9ac75rQKV">/pages/yIgcClsXYwk9ac75rQKV</a></td><td><a href="/files/0YeJIUlLhLv9JQla1ZIg">/files/0YeJIUlLhLv9JQla1ZIg</a></td></tr><tr><td>Build On Flash</td><td><a href="/pages/DNxz0s1MAGFrlC1I8cJq">/pages/DNxz0s1MAGFrlC1I8cJq</a></td><td><a href="/files/XCREwdnAZekAHGJsz2RN">/files/XCREwdnAZekAHGJsz2RN</a></td></tr><tr><td>Audits</td><td><a href="/pages/y2q0qOiZ5Fvqi5ZdZ1Zy">/pages/y2q0qOiZ5Fvqi5ZdZ1Zy</a></td><td><a href="/files/QH7cCIDlXvqEAcIOiOZP">/files/QH7cCIDlXvqEAcIOiOZP</a></td></tr><tr><td>Monthly Protocol Report</td><td><a href="/pages/oek5sYTsFpwccUjsGDbW">/pages/oek5sYTsFpwccUjsGDbW</a></td><td><a href="/files/9xlAlyr4UYwkDcetlEtg">/files/9xlAlyr4UYwkDcetlEtg</a></td></tr></tbody></table>


---

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