At Flash Trade, our objective is to craft a decentralized exchange (DEX) that rivals the experience users have on a centralized exchange (CEX). Every decision we make at Flash Trade is driven by the commitment to deliver a frictionless user experience. We seek to mirror the efficiency of centralized exchanges while eliminating unnecessary clutter commonly found in decentralized platforms.

“A DEX with a CEX appeal.”

Leveraging the technology of Solana, Flash Trade provides a trading environment that not only rivals the experience found on a CEX but does it while surpassing the security and transparency offered by them as well. This is accomplished all while holding up to the ethos of decentralization through its community-centric development plan, commitment to open sourcing, and contributing to “growing the pie.”

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. Liquidity providers are rewarded with real yield generated from fees collected from trading activities. The protocol incorporates dynamic pricing via Pyth and a novel backup oracle system to ensure maximum uptime. The Flash Liquidity Pool (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 with our introduction of the FAF token ushering in a new era of rewards, utility, and governance for staking FAF tokens. NFT were given two ways to claim Burn & Stake or Burn & Claim.

Explore Our Guides & Information

Flash's margining system adds a virtual PnL delay to positions closed within 30 seconds. This means that for all positions closed before 30 seconds, positive PnL won't be realized while negative PnL will be realized. This system was added to protect Flash's liquidity pool from potential MeV attacks and the system was later extended to protect against oracle delay since Pyth's new pull oracle system (pyth docs here)

To ensure that all proposals uphold integrity, predictability, and alignment with the long-term value of the protocol’s native token, the core team commits to the following governance standards when drafting Futarchy proposals:

• State Impact on Token Value Clearly explain how the proposal benefits the protocol and token value, including the mechanism of impact, current relevance, and expected net-positive outcomes (especially for token supply increment and incentive changes).

• Define Measurable Metrics Include specific KPIs or performance metrics that can be used to evaluate success post-implementation.

• Include Opportunity Cost Analysis Summarize resource requirements (e.g. dev hours, emissions, treasury spend) and potential trade-offs.

• Align with Strategic Goals Show how the proposal fits into the protocol’s broader mission — is it foundational, experimental, defensive, or opportunistic?

• Add Post-Implementation Review Describe how results will be evaluated, made public, and used to guide future decisions.

How we handle proposals:

1. Proposals can only be put up by Core Team.

2. Proposal Drafting occurs in the Flash Discord to arrive at reasonable parameters for the specifics.

3. In the case of a failed proposal, it can be revisited in 1 month only.

4. Proposals Must Be Specific and Executable

5. The token holders can suggest drafts of proposal which then can be improved and put up for voting by the team.

All proposals must define concrete, unambiguous implementation parameters (e.g. smart contract changes, allocation percentages, timelines) to ensure clarity and enforceability.

Calculating Liquidation Price

The liquidation price represents the threshold at which a trader's position is automatically closed (liquidated) to prevent further losses. To calculate the liquidation price, the following factors are considered: Max Leverage, Unsettled Obligations, and Maintenance Threshold.

Components of Liquidation Price Calculation

• Max Maintenance Leverage: 500x (Crypto), 400x (Synthetic Assets), 100x (Solana Beta Assets), 50x (Meme tokens)

• Unsettled Obligation: The sum of fees owed by the position to the trading pool. These fees consist of two components: a static close position fee and a dynamic margin fee associated with borrowing exposure to the asset. It is reflected as a reduction in collateral amount by the Trader that is holding the position irrespective of price action.

• Minimum Maintenance Margin: Calculated as the product of nominal size of the position (in USD) and the minimum maintenance margin ratio (1 /Max Leverage). This threshold is a critical level that when the amount of collateral crosses it then the liquidation process can be triggered.

• Liquidation Price: The price at which a Trader's position will be liquidated. Any remaining maintenance margin is not returned to the trader.

The Liquidators:

Initially, the Flash.Trade team will be running a liquidation bot that is continuously monitoring all positions on Flash.Trade ensuring all positions are promptly liquidated when they exceed max leverage. Flash's margining engine does not require an insurance fund since there will always be liquidity available in the pool to close against. Additionally, the protocol does not require external liquidator capital to settle positions due to the nature of protocol being asset-backed for each position and thus positions will always have the counterparty to settle against. The fact that the pool is used to close against for liquidations this should prove to be another source yield for liquidity providers.

The Pool-to-Peer model is a mechanism of liquidity provision for perpetuals DEXs where trader's orders are instantly matched and executed against a pool of liquidity at the price published by a decentralized oracle. This model eliminates the need for traditional order books by creating a unified liquidity pool that serves as the counterparty to all trades.

There are two main entities in a pool-to-peer model:

Oracle-Enabled Execution

The matching of the orders between the Traders and the collective of LPs in the pool is enabled by an external oracle price feed. This oracle system provides real-time market prices, allowing for instant trade execution without waiting for order book matching or dealing with slippage from insufficient liquidity at specific price levels.

Key Benefits

FLP is Flash Trade's auto-compounding liquidity token that automatically reinvests all fees and trading PnL every hour.

Key Features:

• Auto-Compounding: All performance rolls directly into token price - no manual action required

• 70% Fee Share: Earns 70% of all protocol trading fees

• Market Tradable: Can be bought/sold on open markets like Raydium

• Voltage Points: Generates VP for FAF staking multipliers

• Set-and-Forget: Ideal for passive investors wanting automated yield

How It Works: Simply hold FLP tokens in your wallet to automatically earn from all Flash Trade activity. No staking, claiming, or management required.

Best For: Users who want passive, automated returns without active management.

Asset-Backed Trading

Asset-Backed Perpetual Swaps are derivatives where positions are backed by the underlying asset they represent. Traders can borrow the price exposure of the asset from the pool and the availability of the assets in the pool guarantees the settlement is possible of the Perpetual Swap contract at any given time.

Due to this nature of asset backing, the Trader can always be assured of settlement when they desire to close the position and the PnL will always be guaranteed from the underlying assets backing the Perpetual Swaps. This also reduces the need for a large insurance fund as there is always a guarantee of liquidity for settling a Trader’s position from the pool.

Asset-backed Perpetual Swaps are paid out in the native asset itself. This makes the Perpetual Swap less dependent on the stable coins and any form of counterparty risk associated with them.

All trades will be collateralized by the token they wish to long. For example, if the Trader intends to long SOL with leverage, then they must use SOL their collateral. Otherwise, the protocol swaps any other token brought by the user to SOL before opening the position.

Note: The swapping of the token is done dynamically by the protocol on the backend and the user will incur a swap fee in the process.

Example 1: - Trader 1 brings 1000$ worth of USDC and wants to long ETH at 10x leverage. Assuming ETH’s price is $2,000. When the trader places the order, the protocol swaps the $1,000 USDC to ETH on the backend and opens a position of 5 ETH (Note: This does not take into account the swap fee, opening fee, and borrow fee).

When the trader wants to short a crypto asset, they must use a stable coin to open the position. If the trader wants to short ETH then they must bring USDC to short ETH. Otherwise, the protocol swaps any other token to a stable before opening the position. Asset-Backed Pool The collateral backing for the perpetuals built on top of such a pool is provided by the spot assets in the pool. Here only the perpetual contracts of the asset in the pool itself can be initiated. There are no limitations on PnL of traders as the pool will always have the native asset to payout a long position or a stable coin to payout a short position.

Overview

Synthetic Pool is the pool which forms the underlying liquidity pool for all perpetual contracts that are asset backed by collateral. This pool contains only stable coins in it which forms the underlying collateral backing for the synthetic perpetual contracts that are traded based on the synthetic pool.

Key Features:

• All assets will trade vs their USD pair

• Any synthetic perpetual contract can be initiated irrespective of the asset in the pool

PnL Limitations

Due to the theoretical upside of long positions and the stable value of the stable coins in the pool, there is a PnL Max Payoff limit of 1x the initial collateral on the assets in this pool (currently commodities and metals). This will likely be raised as we have more real time trading data.

Example:

If a trader uses $100 of USDC of collateral to 10x long an equity that is backed by the synthetic pool, their max positive PnL will be +$1000 at which point their position is automatically closed and PnL paid out.

Market Hours

Trading and Liquidity Providing of the Assets in Pool 2 will be limited to the hours that those markets are open.

Trading Schedule:

• Trading times for these assets will be in accordance to CME operational hours and holidays

• More info

You can set SL/TP (stop-loss/take-profit) orders by clicking on the "Manage" button on any position that is open.

• A Stop-Loss order will attempt to cap your losses by executing a closing of your position at the designated price.

• A Take-Profit order will attempt to secure your profits on a trade by executing a closing of your position at the designated price.

After creating a SL/TP order, it will appear under the "Orders" tab. From here, you can edit the order and change the desired price the order will trigger at if needed. SL/TP orders will execute and return the native backing asset for your position e.g BTC for BTC longs or USDC for an ETH short if no alternative return asset is selected when SL/TP is created. At this time, a maximum of 5 partial SL and 5 partial TP orders are available per wallet address.

Once a position is closed either by the user or a TP/SL order, all TP/SL orders associated with that position will be cancelled.

Reports

sFLP Mints:

sFLP.1:

sFLP.2:

sFLP.3:

sFLP.4:

sFLP.5:

FLP Mints:

FLP.1:

FLP.2:

FLP.3:

FLP.4:

FLP.5:

Liquidity providers on flash trade earn fees through trading activites over Flash Liquidity Pools.

Each pool has different asset backing and support different market profiles which generates fees according to the volumes each pool serves. The fee is distributed every hour to liquidity providers.

Each pool has different fee share split between liquidity providers and protocol, this is elaborated below.

On Flash.Trade the collateral for the trade will depend on whether a user would like to long or short an asset.

Asset Backed Collateral Guide

When you go "long" on something, you're betting its value will increase. Here's what you can use as collateral for different assets:

Security

2025

Offside Labs stands as a pre-eminent security research team, comprising highly skilled hackers with top - tier talent from both academia and industry. The team has earned over $9 million in bug bounties, and three of its innovative techniques were acknowledged as being among the top 10 blockchain hacking techniques of 2022 by the Web3 security community. This team has audited Solana projects like Jupiter, Adrastea Finance, Meterora, Kamino and many other top projects in the space.

2024

Halborn conducted a security assessment on Flash programs, beginning on February 6, 2024, and ending on March 20, 2024. The security assessment was scoped to the programs provided in the flash-contracts-closed GitHub repository. Commit hashes and further details can be found in the Scope section of this report.

2023

The team at Halborn was provided seven weeks for the engagement and assigned a full-time security engineer to audit the security of the programs in scope. The security engineer is a blockchain and Solana program security expert with advanced penetration testing and Solana program hacking skills, and has deep knowledge of multiple blockchain protocols.

Economic Audit

GriGonTok

Flash team alongwith GriGonTok a leading tokenomics and DeFi analytics firm conducted state of the art economic audit over flash's margin engine and simulated effect of black swan events on the profitability of liquidity providers of FLP.

The protocol did a one-of-a-kind economic audit to simulate the effects of multiple black swan events to understand profitability of flash liquidity pool (FLP) and more. Details can be found in our code repository found here.

Flash Beast was a collection of 5,555 3D evolutionary NFTs featuring bulls and bears. The collection was minted on December 19, 2023, at approximately $220 per NFT. Flash Beast was created to bootstrap initial liquidity for Flash Trade, with the mint funds seeding the platform's liquidity pool. All fees generated from this liquidity were distributed back to NFT holders and in less than a year the NFT had recovered its entire mint cost just in fees alone.

The Flash Beast was used to gamify the incentive mechanism on the platform. Instead of doing a regular vanilla points program where users try to bot farms with the intent to game the system, we decided to use flash beast nft itself as a rewards mechanism.

The Beasts came with an entire reward and benefit system attached to them. Holders were able to gain Voltage Points (VP) based on their activity on the platform which lead to access to greater levels of their NFT. The higher VP lead to higher levels on your Flash Beast NFT which unlocks higher tier of perks which include high fee discounts, referral rebate and yield boost on providing liquidity.

We saw some beast holders earning $5000 worth of referrals in a week and the power users of the platform saving thousand of dollars in trading fees using the Flash Beast NFT.

On 15th April 2025 the reward program of the Flash Beast NFT came to its conclusion and the nfts were converted to $FAF, the amount of which dependent on the level of the Flash Beast NFT.

The page to convert the Flash Beast NFT to $FAF is open till 15/10/2025 post which all unclaimed FAF will be burned from existence. You can find the link to claim your FAF

For Liquidity Providers

About FAF Token

Prerequisites

• A connected Solana wallet (Phantom, Backpack, Solflare, or your preferred wallet)

• Access to the Flash Trade platform at flash.trade

Step-by-Step Instructions

Referral Program Benefits

When users sign up and trade using your referral link, you'll earn:

• Base 2% rebate from referred users' trading fees

• The rebate percentage may vary based on your VIP level

• Referrals also help you earn Voltage Points (VP) for additional rewards

Start building your network and earning passive income through Flash Trade's referral program today!

Support Resources

• Join the community Discord for real-time support. Remember: legitimate support will never ask for your private keys or recovery phrase.

• Review FAQ section for common questions

How to Collect Your Rewards

Need Help?

For additional support or questions about using Flash Trade, consult with us on Discord. Remember: legitimate support will never ask for your private keys or recovery phrase.

Step by Step Guide

Staking Your FAF

Tracking Your Progress

Check the Leaderboard

Want to see how you stack up? Click the VP Leaderboard button to see:

• Your current rank

• Total Voltage Points earned

• How much FAF others have staked

• Where you stand for the current epoch

The leaderboard shows everything from trading volume to fees earned by LPs - it's pretty cool to see the community in action!

Unstaking Your FAF

Need Help?

For additional support or questions about using Flash Trade, consult with us on Discord. Remember: legitimate support will never ask for your private keys or recovery phrase.

Overview

Flash Beast NFT holders can convert their NFTs to $FAF tokens by burning them. The $FAF allocation depends on your Beast's level, with higher levels receiving significantly more tokens.

Conversion Allocations

Each Flash Beast level corresponds to a specific $FAF allocation:

How to Convert

🔗 Conversion Link: Convert your Flash Beast here

Choose Your Conversion Method

Staking FAF unlocks rewards and utility on the platform.

Rewards

These rewards are the $FAF that you earn by staking your $FAF. The rewards come from the 9.6% of $FAF supply that is reserved for first year rewards. These rewards are distributed between the $FAF stakers at the end of each epoch using a combination of time weighted stake and a custom multiplier based on Voltage Points accrued.

Utility

The utility of $FAF on the platform depends on your VIP Level which is maintained by staking $FAF. The higher the amount of $FAF you have staked the higher will be your VIP level leading to higher utility and perks.

These include:

Fee Discounts - Gives you discount on the base fee on trading perpetuals.

Referral Rebates - Gives you higher percentage of rebates from your referrals.

Rev Share - Give 50% of the protocol revenue to FAF token stakers.

Spot LO Discounts - Fee Discounts on any limit orders on spot markets. (coming soon)

DCA Discounts - Fee Discounts on any DCA type orders on spot market. (coming soon)

Governance

We’re embracing Futarchy, a governance model that uses prediction markets to guide decisions. Learn more here.

Staking $FAF

Staking of $FAF follows an epoch system to distribute rewards rather than being perpetual. The length of each epoch is of 30 days. Users can stake anytime within the 30 days time frame of an epoch however their rewards will be time weighted to remain fair for all.

At the end of each epoch the rewards are calculated based of your time weighted stake of $FAF and any other bonus multiplier depending on your VP. (You can read more about it in the Reward Multiplier section)

Unstaking $FAF

Unstaking of $FAF can be done via 2 methods

Request

You can request $FAF to be unstaked anytime and it will be available to withdraw in 30 days from the time of request. Once request initiated the amount of $FAF will be excluded from your VIP Level calculation going forward as well as calculation toward your staked weight rewards. The previously earned rewards upto the time of unstake in the epoch remains and can be claimed at epoch end. This method of unstaking has 0 fees on it.

Instant

Here you can immediately unstake your $FAF and receive it in your wallet. There is no waiting for the epoch to be over. Once unstaked the amount of $FAF will be excluded from your VIP Level calculation going forward as well as calculation toward your staked weight rewards. The previously earned rewards upto the time of unstake in the epoch are forfeited and can’t be claimed at the end of the epoch. This method unstaking has a 3% fee penalty on it.

How It Works

Two Conditional Markets

Every proposal creates two separate markets:

These work like conditional limit orders - whichever side gets approved executes on-chain.

Trading Strategies

Understanding Outcomes

The beauty of Futarchy is in the conditional execution:

Ready to participate? Head to MetaDAO to trade on active proposals and help decide Flash Trade's future.

Markets will follow the hours below:

Flash Trade is a decentralized exchange (DEX) built on the Solana blockchain that enables fast, on-chain trading and liquidity provision. Before you start trading, you'll need to set up a few essential components.

Getting Started Checklist

Before your first trade:

• Install and set up a supported Solana wallet

• Securely store your recovery phrase offline

• Fund your wallet with SOL for transaction fees

• Acquire the assets you want to trade

• Bookmark

• Connect your wallet to the official Flash.Trade interface

Helpful Guides on What to Do Next

Need Help?

For additional support or questions about using Flash Trade, consult with us on . Remember: legitimate support will never ask for your private keys or recovery phrase.

FAF stakers earn rewards at the end of each 30-day epoch through Flash Trade's hybrid reward system, which combines stake-based rewards with activity-based Voltage Points. This guide walks you through claiming your accumulated rewards.

Prerequisites

Before claiming your epoch rewards, ensure you have:

• A connected Solana wallet (Phantom, Solflare, Backpack, etc.)

• Previously staked FAF tokens during the completed epoch

• Earned Voltage Points (VP > 0) during the epoch - required for any rewards

Understanding the Current Reward System (Epoch 4+)

Critical Requirement

Step-by-Step Claiming Process

Reward Schedule

• Epoch Duration: 30 days

• Claiming Window: Available anytime after epoch conclusion

• No Expiration: Unclaimed rewards remain available indefinitely

Troubleshooting

Wallet Connection Issues

• Clear browser cache and reconnect

• Disable interfering browser extensions

• Try a different supported wallet

Learn More

For detailed information about the hybrid reward system, Voltage Points mechanics, and ranking calculations, visit our documentation page.

Support

Need additional help claiming your rewards?

• Join our for real-time support

• Visit our for common questions

Getting Started

Before engaging with partner protocols:

Each partner protocol has specific requirements and optimal strategies. Consult individual integration pages for detailed implementation guides.

Partner Protocols Guides

Triple Rewards Systems

The unique advantage for Flash Trade FAF stakers () is earning rewards simultaneously across both Flash Trade and partner platforms:

Revenue Sharing

50% of all protocol fees go to FAF stakers. All revenue shares are distributed in USDC every 6 hours. You can claim your accumulated revenue share at any time through the staking interface. ()

Risk Considerations

While partner integrations offer enhanced returns, users should understand the additional risk factors:

Universal FLP Risks

• Volume Dependency: FLP returns depend on Flash Trade trading activity

• Platform Risk: Additional smart contract exposure beyond Flash Trade

• Market Correlation: Crypto downturns can affect both FLP values and trading volumes

Leverage-Specific Risks

• Liquidation Risk: Higher leverage increases liquidation probability

• Interest Rate Volatility: Borrowing costs can fluctuate with utilization

• Time Sensitivity: Some strategies have maturity dates or time decay effects

Security Reminders

• Always verify you're using official partner platform URLs

• Legitimate support will never ask for private keys or recovery phrases

• Start with small amounts when testing new strategies

• Monitor positions regularly, especially leveraged ones

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. These guidelines ensure accurate pricing and informed decision-making in various market conditions.

Volatility Considerations

We monitor market volatility by comparing the reported price to the exponential moving average () reported by Pyth’s oracles. If the difference between these prices exceeds a predefined threshold, the High Volatility Flag is set for the said asset. If it exceeds a greater threshold, then Close Only mode will be active restricting all interactions except liquidations, closing position, and removing liquidity.

Thresholds for "High Volatility Flag"

• Pool 1 assets: ~2% difference between EMA and Spot.

• Metals: 0.66% difference between EMA and Spot.

• Currencies: 0.33% difference between EMA and Spot.

• Pool 3, 4, 5 asset: ~5% difference between EMA and Spot.

Crypto Assets

Handling High Volatility

During periods of the High Volatility Flag we use confidence intervals reported by Pyth to establish an acceptable price range. The reported price serves as a baseline and depending on the accounting being done, there will be a maximum price and minimum price computed by adding/subtracting the confidence interval from the reported price. The protocol in this mode will be using the more conservative of either price when it comes to evaluating the state of user’s positions or liquidity pool shares.

Wide Confidence Intervals

In situations where Pyth's confidence interval is exceptionally wide, indicating potential variance in the reported price, the protocol goes in Close Only mode. Prices reported by Pyth are considered invalid if the volatility flag is set and the value of confidence interval exceeds 1% of the reported price. To ensure functionality of the protocol during these times and consistent on-chain pricing, Flash will use proprietary backup oracle system to ensure protocol is functional.

Volatility based fee

During periods of the High Volatility Flag threshold being active, flash's margin adds a fixed fee to new position opening to protect LPs and imitate an orderbook spread that happens during volatile times. This fee is only added on opening a position and increasing size on a existing position when the High Volatility flag is active.

Wide Confidence Intervals with Moderate Volatility

If the volatility flag is not set but the confidence interval reported by pyth is wide (>1% of reported price), we continue relying on Pyth's reported price. In such cases, the wide confidence interval itself does not necessitate corrective action.

Handling Stable Coins

For stable coins, we assess the difference between the reported price and the benchmark of $1 to flag volatility. If the difference exceeds the threshold the High Volatility flag is set and we compute the minimum price by discounting the confidence interval from the reported price while the reported price is established as maximum price. Instructions involving actions that convert nominal usd values to token amounts like swaps and removing liquidity are calculated based on the $1 benchmark.

Size Based Spread

As traders increase their trade size from $1 to $1,000,000, there will be progressively wider spreads applied to their entry and exit prices. The specific spread amounts correspond to the values detailed in the table below.

Conclusion

These guidelines outline our approach to managing price volatility and handling wide confidence intervals in our operations. By adhering to these guidelines, we ensure accurate pricing and well-informed decisions across diverse market conditions. We will continue adapt our strategies to changing market dynamics, maintaining the reliability and effectiveness of our price management practices.

Introduction

Flash.trade SDK written in typescript provides the easist way for developers, partners and others to integrate with flash.trade. This page will walk you through setting up the flash client, creating transactions and executing them.

Install the Flash SDK

Setting up the Flash SDK

FAF stakers earn a direct share of Flash Trade's protocol revenue through our continuous revenue sharing mechanism. This system distributes 50% of all protocol fees directly to FAF stakers based on their proportional stake in the pool.

How Revenue Sharing Works

Continuous Distribution

Revenue sharing operates on a continuous basis, similar to our sFLP system. Your share of protocol revenue is calculated based on your proportional stake in the total FAF staking pool and accrues in real-time as trading activity generates fees.

Distribution Mechanics

Technical Architecture

Vault System: Every 6 hours, protocol fees are automatically moved to separate vaults:

• 50% → Protocol operational vault

• 50% → Community revenue distribution vault

On-Chain Updates: Revenue balances are updated on-chain when any user performs these actions:

• Stake FAF tokens

• Unstake FAF tokens (request or instant)

• Claim revenue

⚠️ Important Considerations

Distribution Threshold

During periods of low trading activity, smaller revenue amounts may accumulate before distribution to optimize gas efficiency. This ensures meaningful distribution amounts for all stakers.

Claiming Your Revenue

Revenue vs. FAF Rewards

Revenue sharing is distinct from FAF staking rewards:

Both systems work simultaneously - you earn both USDC revenue share and FAF token rewards while staking. Find out more about FAF Rewards here.

Revenue sharing went live in June 2025 as part of Flash Trade's commitment to sharing protocol success directly with our community of FAF stakers and was voted on using the Futarchy governance model. Find out more here.

Degen Mode is Flash Trade's ultra-high leverage trading environment designed for experienced traders seeking maximum position amplification. This advanced trading mode removes traditional safety constraints while implementing strict risk controls to maintain platform stability.

Overview

Degen Mode enables traders to access leverage beyond standard limits with zero swap fees and enhanced liquidation thresholds. This mode is specifically designed for sophisticated trading strategies requiring extreme position sizing.

Currently Available Assets:

Key Features

Mode Restrictions

User Interface Changes

Risk Considerations

Need Help?

Join our Discord community for real-time support.

Liquidity is added to Flash Trade pools by liquidity providers (LPs) who deposit assets to facilitate trading. Each trade that passes through Flash protocol generates dynamic fees, and LPs earn their pro-rata share of these revenues while serving as the counterparty to all trader positions.

How Liquidity Providing Works

When you provide liquidity to Flash Trade, you deposit assets into multi-asset pools that traders use for perpetual trading. In return, you receive FLP tokens representing your pool ownership and earn fees from all trading activity.

Revenue Sources for LPs

LPs generate yield through multiple fee streams:

• Open/Close Position Fees: Charged on every trade execution

• Margin Fees: Continuous fees on leveraged positions

• Swap Fees: When users convert between pool assets

• Liquidation Bonuses: Remaining collateral from liquidated positions

• Add/Remove Liquidity Fees: Dynamic fees from other LPs joining/leaving

Additionally, when traders lose money, those losses flow directly to LPs as profits.

Choosing Your LP Token Type

Flash offers two liquidity providing options with different reward mechanisms:

FLP vs sFLP Tokens

Flash offers two types of liquidity providing tokens with different reward mechanisms:

Getting Started

Dynamic Fee Structure

Minting and burning FLP tokens incurs fees that vary based on pool composition:

How APRs are displayed on Flash Trade's Earn page

Flash Trade's Earn page shows two different return calculations:

• Default Display: 7-day rolling average APR

• Hover Display: Previous day's annualized return

These numbers reflect actual LP performance including all fee sources and trader PnL.

Prerequisites

Before you begin:

• Ensure your Solana wallet is connected to Flash Trade

• Have sufficient SOL for transaction fees

• Verify you have funds available for trading (USDC, SOL, or other supported assets)

Platform Overview

Flash Trade's interface consists of three main sections:

• Trading Chart: Real-time price action and technical indicators

• Market Selection: Available trading pairs displayed at the top

• Order Panel: Trade execution interface on the right side

Best Practices

Support Resources

• Join the community for real-time support. Remember: legitimate support will never ask for your private keys or recovery phrase.

• Review for common questions

Next Steps

After completing your first trade:

• Explore advanced trading features

• Learn about Flash Trade's liquidity provision options

• Investigate additional trading pairs and strategies

• Consider Flash Trade's ecosystem integrations

Overview:

This is a rolling monthly report that covers data from the month of June

Financial Performance (PnL):

• Total Volume: $298,340,000

• TVL change: + $200,000*

• Total fees Earned: $275,150 total fees accrued in USDC,

• Fees paid to LP: $169,110

• Protocol-retained revenue: Approximately $106,040

• FLP Performance

  • FLP1 = + 1.13%

  • FLP2 = + 2.6%

Protocol Metrics:

• New wallets on the platform: 951

• Total Liquidation Volume: $9,204,368

• Largest Spike in Liquidation: 12th June $549,350

• Trading behavior insights:

  • Significant increase in SOL Short trading volume which initially used to be long baised

  • Heavy domination of OIL in pool2 with less than 15 days of being live

• Bugs and Other Improvements:

  • Reworked the way charts used to load and it’s now much faster

  • Fixed certain visual bugs in market selection list

  • Made VP accrual on sFLP continuous

  • Moved transaction building for mint and burn of FLP to the api (should be faster now)

  • New Price update instruction which should be very fast and enable 200x leverage

  • W and AUD delisted

• New Features & Integrations

  • OIL Listed with 50x leverage

  • Revenue Share is live for users to claim whenever they want

  • Animated Buttons that remove transaction popup

  • FLP Pyth Price feed published

  • Added FLP on Ratex for Yield Trading

  • VP Points Live on Sandglass Ratex and Loopscale

  • Points boost on Sandglass

  • FLP.3 live on Loopscale

  • Reworked on Docs. Should be much more informative and polished

FAF:

• $FAF currently staked = 616,294,303.078 FAF

• 9,168,836 FAF distributed as Staking Epoch 2 rewards

• Proposal 02 : Under works

Roadmap

• Current development priorities

  • New Earn page

  • 200x leverage

  • Rework the fee structure on swap fees and mint/burn

  • Listing of DXY and SPX

  • Kamino Integration once the FLP Pyth price feed is live

  • New degen mode

  • Margin Engine V2

  • More Listings

  • Revamped onboarding experience (privy)

• Features or improvements coming up next

  • Magic Block (in works with weekly syncs)

  • Chainlink oracle as backup (still discussing)

  • Volmex finance’s indices based perps (BVIV, SVIV, etc) (finalising steps)

FAF Token Overview

FAF gives 50% of protocol revenue, unmatched utility and full governance rights to its holders. The protocol was built from scratch and fully bootstrapped by the core team.

Key Differentiators:

• 80% of supply distributed to early supporters during Flash Beast transition

• Novel approach with majority supply unlocked from launch

• No predetermined team allocation - compensation determined by Futarchy DAO

• Deviates from conventional low float, high FDV mechanics

Token Specifications

Token Distribution

Distribution Chart

Overview

Flash Labs is a vibrant Discord forum designed specifically for FAF token holders and the core development team to connect, collaborate, and innovate together. This dedicated space serves as the primary hub for community-driven development, strategic planning, and collaborative decision-making within the Flash ecosystem.

What is Flash Labs?

Flash Labs represents more than just a discussion forum—it's a collaborative workspace where ideas transform into actionable plans. The platform bridges the gap between community members and the development team, fostering an environment where every voice contributes to the project's evolution.

Getting the Most from Flash Labs

Join the Conversation

Flash Labs represents a unique opportunity to be part of the development process, not just the end product. Your participation helps shape the future of the Flash ecosystem.

Ready to get involved?

👉 Join Flash Labs in our Discord

Whether you're looking to share ideas, provide feedback, or simply stay informed about the latest developments, Flash Labs welcomes your participation. Join today and become an active contributor to the Flash community's collaborative future.

FLP tokens are index-style tokens that represent ownership shares in Flash Trade's multi-asset liquidity pools. Each FLP token tracks a diversified basket of crypto assets while earning yield from perpetual trading activity.

What FLP Tokens Represent

When you hold FLP tokens, you own a proportional share of the entire pool's assets, not the specific tokens you deposited. A user depositing BTC receives exposure to the full pool composition: roughly 24.50% JitoSOL, 3% SOL, 22.50% BTC, 5% ETH, and 45% USDC (when at target ratios).

Contract Address

For contract addresses and mint information, see sFLP & FLP Mints.

Key Characteristics

• Counterparty Exposure: Token holders serve as counterparty to all trader positions

• Market Correlation: Returns follow underlying crypto asset performance

• Fee Sensitivity: Dynamic minting/burning fees based on pool balance

• Yield Generation: Passive income from Flash Trade's trading ecosystem

Network Connectivity Issues

High Latency and Slow Trading Experience

Problem: Trades execute slowly, interface feels laggy, or transactions take longer than expected to process.

Cause: Poor connection to the RPC (Remote Procedure Call) server, which acts as your gateway to the Solana blockchain.

Solution:

1. Check Your Current Latency

   • Look at the bottom row of the Flash.Trade interface

   • Your RPC ping time should be below 500ms for optimal trading experience

   • If ping exceeds 500ms, proceed to change your RPC provider

2. Change RPC Provider

   • Click the Settings icon in the top-right corner of the interface

   • Select RPC Endpoints from the dropdown menu

   • Choose from the available options:

     • Triton - High-performance RPC provider

     • Helius - Alternative reliable RPC option

     • Custom RPC - Use your own RPC endpoint if available

   • Click SAVE RPC

   • The page will automatically reload within 3 seconds

   • Verify improved latency at the bottom of the interface

VPN-Related Connection Issues

Problem: Positions not loading, interface glitches, or intermittent connectivity problems.

Cause: VPN services can interfere with RPC communication and cause data synchronization issues.

Solution:

• Temporarily disable your VPN connection

• Refresh the Flash.Trade interface

• If issues persist, try switching to a different RPC provider as outlined above

Oracle and Pricing Issues

Unable to Close Positions During High Volatility

Problem: Cannot close positions during periods of extreme market volatility or high network congestion.

Cause: During volatile market conditions, Solana's base fees increase significantly, which can cause Pyth price feeds to become stale or unavailable. This prevents normal position closure mechanisms from functioning.

Solution:

1. Enable Backup Oracle

   • Navigate to Settings in the top-right corner

   • Expand the PnL Settings section

   • Toggle "Use Backup Oracle" to the ON position

   • Click SAVE to apply changes

2. Adjust Slippage Tolerance

   • In the same Settings menu, locate Slippage Tolerance

   • Increase the slippage percentage (recommended: 0.8% or higher during volatility)

   • This accounts for rapid price movements between transaction signing and execution

   • Click SAVE to apply changes

Priority Fee Optimization

Transaction Failures During Network Congestion

Problem: Transactions fail to execute or remain pending for extended periods during busy network conditions.

Cause: Insufficient priority fees during times of high network congestion.

Solution:

1. Adjust Priority Fee Settings

   • Go to Settings → Priority Fee

   • Switch from DYNAMIC to MANUAL if needed

   • Increase the fee amount (typical range: 0.001 - 0.01 SOL)

   • DYNAMIC mode automatically adjusts fees based on network conditions (recommended)

2. Monitor Network Conditions

   • Higher priority fees are necessary during periods of high network activity

   • Consider using DYNAMIC mode for automatic fee optimization

Additional Settings Optimization

PnL Display Configuration

To customize how your profit and loss information is displayed:

• Display PnL With Fees - Include trading fees in PnL calculations

• Include PnL In Leverage Display - Show PnL impact on effective leverage

• Use Backup Oracle - Enable alternative price feeds during disruptions

Best Practices

1. Regular Settings Review

   • Periodically check your RPC latency

   • Adjust slippage tolerance based on market conditions although 0.8% in most cases will be sufficient.

   • Keep priority fees at appropriate levels for current network conditions

2. Network Monitoring

   • Be aware of Solana network status during high-traffic periods. Check here

   • Consider increasing priority fees during major market events

3. Backup Preparations

   • Familiarize yourself with backup oracle settings before you need them

   • Test different RPC providers to identify the best performance for your location

Getting Additional Help

If you continue experiencing issues after following this guide:

1. Check for network-wide issues

2. Join the Flash.Trade channel for real-time support

3. Ensure you're using the official interface at

What is Sandglass?

Sandglass is Solana's first pool-based yield trading protocol that splits yield-bearing tokens into their principal and yield components, enabling each to be traded separately. Unlike traditional DeFi where you're locked into both price and yield movements together, Sandglass creates independent markets for these components through sophisticated automated market makers (AMMs) designed specifically for yield trading.

FLP's Role on Sandglass

FLP tokens from Flash Trade serve as premium yield-bearing assets on Sandglass, offering unique advantages due to their diversified revenue streams from perpetual trading fees across multiple asset classes. This integration creates three primary opportunities:

• Yield Isolation - Trade FLP's yield independently from token price movements

• Risk Management - Lock in guaranteed returns or amplify yield exposure based on market outlook

• Enhanced Liquidity Provision - Earn additional fees while maintaining FLP yield generation

FLP Yield Trading Strategies

Available Strategy Types

The platform offers three distinct approaches to FLP yield trading, each with specific risk profiles and return characteristics:

Risk-Averse Strategies:

• Fixed Yield (PT Tokens) - Lock in guaranteed APY, eliminate yield volatility

High-Conviction Strategies:

• Long Yield (YT Tokens) - Amplified exposure to yield increases, outsized returns potential

Balanced Strategies:

• Liquidity Provision (LP Tokens) - Earn trading fees while maintaining FLP exposure

Yield Trading Mechanics for FLP

When engaging with FLP yield trading, Sandglass executes a sophisticated token splitting mechanism. Your FLP.1 tokens are decomposed into Principal Tokens (PT) representing the underlying asset value and Yield Tokens (YT) representing future yield generation rights.

The Core Equation:

The Compounding Effect:

• Original FLP earns trading fees from Flash Trade perpetuals

• PT tokens provide guaranteed returns independent of yield fluctuations

• YT tokens amplify exposure to yield movements with leveraged sensitivity

• Combined strategies can significantly exceed base FLP returns

When exiting positions, the process works seamlessly through the AMM with automatic price discovery based on market expectations of future FLP yields.

FLP as Yield-Bearing Collateral

Trading Capabilities

FLP tokens serve as the underlying asset for sophisticated yield trading strategies with competitive terms. The isolated vault model ensures that FLP-backed positions don't create cross-contamination risks, providing portfolio flexibility.

Supported Trading Pairs:

• PT FLP.1: Fixed yield exposure

• YT FLP.1: Variable yield exposure

• LP FLP.1: Liquidity provision tokens

Key Parameters:

• Vault Maturity

• Underlying APY

• Total Value Locked

• Token Price

Strategic Applications

This yield trading utility allows users to maintain their FLP exposure while expressing specific views on yield direction and volatility. Users can effectively optimize their risk-return profile by separating price movements from yield generation and trading these components independently.

Dual Rewards System

The Double-Earning Advantage

The unique advantage for Flash Trade users is earning rewards simultaneously across both platforms, creating a multiplicative effect on total returns while maintaining diversified risk exposure.

Risk Considerations

Understanding the Risk Spectrum

While FLP yield trading offers enhanced flexibility and returns, it introduces additional risk factors that users must carefully consider before deploying capital.

FLP-Specific Risks

• Yield Dependency: FLP returns depend heavily on Flash Trade volume and market activity. During slow trading periods, yield generation may decline significantly.

• Platform Risk: Exposure to Flash Trade's perpetuals platform creates additional smart contract and operational risks beyond standard yield trading.

Yield Trading Amplification Effects

• Direction Risk: YT token holders face losses if FLP yields decrease below entry levels. Users must accurately predict yield direction for profitable YT positions.

• Time Decay: As vault maturity approaches, YT token values converge to accumulated yield, potentially creating time-sensitive exit requirements.

• Market Volatility: Crypto market conditions can simultaneously affect FLP values and trading volumes, creating correlated risk exposure across yield components.

Getting Started Guide

Prerequisites

Before engaging with FLP yield trading, ensure you have the necessary foundation for success:

• Hold FLP.1 tokens from Flash Trade

• Understand yield trading mechanics and directional risks

• Have clear market outlook on Flash Trade volume trends

• Familiarity with vault maturity systems and exit timing

Step-by-Step Implementation

Regular strategy review ensures positions remain aligned with changing market conditions while maximizing the dual rewards potential across both Flash Trade and Sandglass ecosystems.

Need Help?

For additional support or questions about using Sandglass, consult with the team on the Sandglass . Remember: legitimate support will never ask for your private keys or recovery phrase.

FLP tokens from Flash Trade are now integrated with RateX, a cutting-edge yield trading protocol. This integration unlocks advanced strategies for FLP holders to amplify their yield exposure and optimize returns through innovative yield tokenization.

What is RateX?

RateX is a margin and spot yield trading protocol that enables users to trade the future returns of yield-bearing assets with leverage. The platform specializes in yield tokenization, allowing traders to separate and trade the yield and principal components of assets like FLP through sophisticated financial instruments.

Unlike traditional trading platforms, RateX focuses specifically on yield movements - think of it as betting on whether interest rates will go up or down, but with serious leverage built into the yield tokens themselves.

FLP's Role on RateX

FLP tokens from Flash Trade serve as the underlying yield-bearing asset in RateX's yield trading ecosystem. This integration creates powerful opportunities for FLP holders to:

Amplified Yield Exposure - Gain leveraged exposure to FLP yield movements without traditional margin requirements

Yield Strategy Diversification - Access both long and short yield positions based on market outlook

Enhanced Capital Efficiency - Maximize returns through yield tokenization while maintaining Flash Trade ecosystem benefits

Core Yield Trading Strategies

RateX offers two primary strategies for FLP yield trading, each serving different market outlooks and risk preferences:

FLP-Specific Trading Mechanics

Spot Trading Advantage

Unlike other yield-bearing assets on RateX that use margin trading, FLP operates through spot markets. This provides several advantages:

Simplified Process - No complex margin management or liquidation risks Clean Exposure - Direct yield trading without borrowing complications Lower Barriers - More accessible to traders of all experience levels Reduced Risk - No margin calls or forced liquidations

Yield Exposure Calculation

FLP yield trading on RateX provides natural leverage through token mechanics:

• Base FLP Yield: Current Flash Trade ecosystem returns

• YT Amplification: ~10x effective exposure to yield changes

• Time Decay: YT tokens decrease in value as expiration approaches

• Market Pricing: Real-time price discovery through automated market makers

Multi-Platform Rewards System

Getting Started Guide

Prerequisites

Before engaging with FLP yield trading, ensure you have:

• FLP tokens from Flash Trade

• Understanding of yield trading concepts

• Risk management strategy

• Sufficient capital for position sizing

Step-by-Step Process

Risk Considerations

Monitoring and Analytics

Key Metrics to Track

Implied Yield - Market-determined expected returns Time to Maturity - Remaining duration until token expiration Trading Volume - Market activity and liquidity levels Yield Spreads - Differences between assets and maturities

Regular position review ensures strategies remain profitable and aligned with changing market conditions while maximizing the dual rewards potential across both Flash Trade and RateX ecosystems.

Need Help?

For additional support or questions about using RateX, consult with them on the RateX . Remember: legitimate support will never ask for your private keys or recovery phrase.

Limit Orders

Limit orders allow you to set predetermined entry and exit prices for your trades, providing better price control and strategic positioning without constant market monitoring.

Overview

Limit orders execute automatically when the market reaches your specified price, offering:

• Price Control - Set exact entry

• Strategic Positioning - Enter positions at favorable levels

• Automated Execution - No need to monitor markets constantly

• Risk Management - Avoid unfavorable market price movements