Post

🧠 I DON’T FULLY UNDERSTAND THE CRITICISM OF THE SOLANA FOUNDATION. I definitely feel for the Flashtrade team, but I think an important part of the discussion is being overlooked. Flashtrade wasn’t a fully on-chain orderbook. I know this firsthand because calculating P&L from Flashtrade trades for tax purposes could be pretty frustrating. 😅 Phoenix was different. It operated with a fully on-chain orderbook, which aligned much more closely with the infrastructure Solana was trying to develop as a potential competitor to Hyperliquid. So it’s understandable that the Solana Foundation put more support behind Phoenix. That said, I wouldn’t say the Foundation completely ignored Flashtrade. The team was featured at Breakpoint several times, and Flashtrade was also part of SuperteamAE, giving it access to the broader Solana ecosystem. Flashtrade was actually performing very well in 2024, with plenty of Solana-focused traders using the platform. The bigger problem was Hyperliquid. It became a huge liquidity magnet, drawing trading volume away from multiple competing perpetuals platforms. Flashtrade seems to have been affected by that broader liquidity shift. So I don’t think Flashtrade shutting down automatically proves that the Solana Foundation failed to support it. Maybe there’s another side to this that I’m missing. 👀 What’s the strongest argument against this perspective? $SOL $HYPE #CPIToResetFedBets #AIMemorySelloffEases #BTCETHETFInflowsReturn