Activities on the Flash Trade project for a potential airdrop
![Activities on the Flash Trade project for a potential airdrop. Заглавный коллаж статьи.](https://incrypted.com/wp-content/uploads/2024/07/flashtrade.png)
Flash Trade is a decentralized futures exchange built on the Solana blockchain. In addition to classic crypto-assets, the protocol allows users to trade ‘exotic’ derivatives, namely metals, currency pairs and stocks with leverage up to x100.
At the time of writing, there is no information about how much money the team has raised and whether there have been funding rounds at all. But we can note that even if investments were not attracted, the protocol is actively working and collecting commissions. Thus, according to DefiLlama, in the period from June 19 to July 19, 2024, such fees amounted to more than $2.5 million.
Further on in the article we will show how to be active on the protocol to be able to claim an airdrop if the project team will conduct it in the future.
Guide to completing the activities
Note: you will need a Phantom-type wallet to pass. If you don’t have one, you can use our guide to set it up and customize it.
Trading
- Go to the site, connect your wallet and click Mint Your Pass:
![](https://incrypted.com/wp-content/uploads/2024/07/flash-trade-1.jpg)
- On the Trade tab, select the desired market and the asset you are going to trade:
![](https://incrypted.com/wp-content/uploads/2024/07/flash-trade-2.jpg)
- Customize the trading terminal by selecting the direction (long or short), asset, position volume and leverage. Then open a deal.
Important: the terminal on decentralized exchanges is a bit different from that on centralized exchanges (CEX). To minimize the possibility of losing money, study each of the settings in detail.
![](https://incrypted.com/wp-content/uploads/2024/07/flash-trade-3-1.jpg)
- You can find an open position on the Positions tab. To close it, click Close or place orders that will trigger when a certain price is reached.
Note: do not close a position immediately after opening it. The team may assess such actions as wash trading — unfair trading to gain volume.
![](https://incrypted.com/wp-content/uploads/2024/07/flash-trade-4.jpg)
Liquidity Pool positions
The project team offers liquidity pools where users can place their funds and receive APY.
Note: before providing funds, please read in detail how these pools work at Flash Trade pools at Flash Trade. Also do not forget about the risks of hacking, which are inherent in any DeFi protocol.
- On the Earn tab, select a desired pool, then assets you will contribute and click Mint:
![](https://incrypted.com/wp-content/uploads/2024/07/flash-trade-5.jpg)
- Once deposited, your FLPs will be staked. The withdrawal mechanism is shown on the screenshot:
![](https://incrypted.com/wp-content/uploads/2024/07/flash-trade-6.jpg)
NFT Flash Beasts
Like many other projects on Solana, Flash Trade has its own NFT collection — Flash Beasts, which gives its owners advantages. You can learn more about them in the documentation, but we will only discuss the main ones:
- owners get discounts on trade commissions, the size of which depends on the NFT level;
- owners of the NFT can create a referral link.
Conclusion
Despite the waning of drophunters’ interest in such protocols, TVL and the site’s volumes continue to grow. Perhaps this indicates that users are actually trading on it, and not just opening positions to get drops. It should also be noted that the project team is extremely negative to the current trend of using the protocol only for the sake of being able to participate in airdrop and is maximally focused on interested users. Therefore, we consider this activity for the future.
Highlights:
- the team has not disclosed drop plans;
- the project has its own NFT-collection;
- in addition to trading, it is possible to use other functionality of the site;
- all risks should be taken into account;
- there is no information about investments in the project at this stage.
If you have any questions when going through the activities, you can ask them in our X.
Useful links: Website | X | Discord
All information is provided for informational purposes only and should not be used as a basis for making investment decisions, nor should it be considered as a recommendation or advice to participate in investment transactions. Do Your Own Research.