August 4, 2023

Making Perpetuals Great Again

Solana DeFi is booming, and we’re excited to announce Flash: A decentralized asset-backed perpetuals exchange. Our focus with Flash is to deliver the best User Experience(UX) and ensuring constant deep liquidity for our traders. Flash incorporates battle-tested risk management and a unique pool-to-peer oracle-based DEX design which allows all users to operate over a unified liquidity pool. This ensures best pricing and execution for margin trades and spot swaps alike.

Bringing back Solana’s DeFi Summer

Flash establishes itself as a liquidity bootstrapping protocol for the DeFi ecosystem on Solana. The core team behind Flash Trade has extensive experience building composability-based DeFi primitives on Solana, ranging from Pooled Funds for Asset Management with to Universal Prime Brokerage for Cross Protocol Margining on

While various CLOB-based perp and spot DEXs have been built on Solana, many have fallen victim to functional and economic exploits. Building in a bear market has made us acutely aware of the limitations of CLOBs — pushing us towards a pool-to-peer, asset-backed model.

Pool-to-Peer Infrastructure

We pride ourselves on instituting an all-embracing pool-to-peer infrastructure. This break from the traditional approach will be crucial for Solana: a chain where previously the majority of the liquidity came from Alameda and other opportunistic market makers. The wealth effect experienced on other chains did not occur to the same effect on Solana but with initiatives like this we hope to spur a new era for Solana where its most dedicated users experience a DeFi Summer of their own.

Every participant in the Flash Liquidity Pool (FLP), regardless of their size or stature, is treated equally on Flash. With this shift, we establish an environment where the primary beneficiary of the system’s upside is the individual user, rather than a handful sophisticated MMs. The introduction of a single liquidity provider (LP) for all trades only strengthens this ethos ensuring an egalitarian trading landscape.

Deep liquidity

Deep liquidity is crucial for any successful trading platform, and at Flash Trade, we are dedicated to establishing deep liquidity for BTC and ETH on Solana. This not only attracts more traders to Solana but also generates a significant yield source for these assets, providing a positive impact on Solana’s growing ecosystem. We are providing compelling incentives for users with these assets to onboard them into the Solana Ecosystem.

As stated before, the team aims to provide a platform that is the best venue to trade these assets. It not only attracts more traders to Solana but also generates a significant yield source for these assets. We anticipate this symbiotic relationship to provide a welcome tailwind to Solana’s growing ecosystem.

DeFi x NFTs

NFTs have long been a purely speculative asset class, but we believe it can be a lot more. By using NFTs and gamification we have created an abstracted DeFi experience for all crypto users to indulge in learning the benefits and magic of DeFi.

Meet the Flash Beasts — pioneering true DeFi abstraction via pNFTs on Solana.

Flash Beasts are dynamic NFTs that evolve based on usage and contributions to Flash.Trade. This lets us align incentives for the NFT community to contribute meaningfully to (and also benefit from) DeFi activities in the ecosystem on a wider scale and leverage the DeFi x NFT initiative.

Truly Trustless and Transferable Trading Identities

Our innovative Flash Abstraction model separates dApp-specific user accounts from the wallet, isolating the data layer from the original asset layer, which is a user’s wallet. This creates a separate data layer using the NFT as an identity which is technically executed using NATAs (NFT Associated Trading Accounts). All of user’s assets remain implicitly in their custody as they interact with the program logic when trading, LPing, and claiming fee.

The Road Ahead

Looking ahead, we believe DeFi cannot compete against CeFi by working in isolation. Instead, it needs to function as a well-oiled machine, competing with centralized alternatives and tapping into their substantial order flow. For this reason the team builds for composability, allowing others to freely build over the base layer of Flash.Trade. The vision is to have a multitude of products on top of Flash’s fountain of liquidity as it proves to be robust and a consistent source of yield.

Over 90% of all crypto trading volumes still take place off-chain on centralized exchanges. Our vision is to compete as an ecosystem against CEXs as a benchmark in overall UX and volumes rather than fight with other existing DEXs on Solana.

Stay updated by following @FlashTrade_ and joining our discord here.