What the $FAF?
$FAF is the certified ownership token of 
— a decentralised perpetuals exchange on Solana. Staking $FAF earns you a pro-rata share of 50% of all protocol revenue. Flash's adoption of the 
MetaDAO Standard gives token holders enforceable economic rights, market-based governance, legal IP ownership, and the ability to vote on how the protocol is run. 80% of the initial $FAF supply went directly to the community — no VCs. A 20% team allocation was later minted following a community futarchy vote, with the majority of the tokens unlocked only against FDV milestones.
Decentralised Perpetuals on
Flash Trade is a fully on-chain perpetuals and spot exchange on Solana. Traders can open positions with up to 500x leverage on crypto, forex, metals, and stocks — with low fees and near-instant execution via 
ephemeral rollups, matching centralised exchange speeds without leaving the chain. Liquidity providers earn real yield from trading fees. Launched in December 2023, Flash Trade has processed over $20 billion in trading volume to date. With v2 now live, this looks set to accelerate significantly.
→Use referral code FLASHBACK when you trade.Real ownership. Real returns.
50% of all Flash Trade revenue is distributed to $FAF stakers every 6 hours — paid in USDC. Your share is proportional to how much $FAF you have staked. This isn't a future promise: it's been live since June 2025 and was the first decision passed through FAFtarchy governance.
For its first 12 months, $FAF stakers also earned token rewards from a 96M $FAF pool (9.6% of initial supply). Rewards were distributed at the end of each 30-day epoch, with a multiplier based on Voltage Points activity.
The more $FAF you stake, the higher your VIP level. Higher levels unlock better referral rebates. Benefits scale with your stake — the more you hold, the more you get back.
$FAF holders govern the protocol through FAFtarchy — a futarchy-based system where decisions are made via decision markets rather than simple token votes. The Flash Trade team propose key decisions to go through this system, including revenue share and the minting of new $FAF supply.
FAFtarchy: Governance by Decision Markets
Most crypto governance is broken — whoever holds the most tokens wins the vote, regardless of whether they're right. FAFtarchy works differently. Instead of a popularity contest, proposals are decided by a decision market.
The result is that informed participants with financial skin in the game drive decisions, not whale token holders with the most votes.
View Active Proposals →Find Out More
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