Dio

DDS

[Anas ⚡️ @allinbitcoin_]

It’s been a month since Flash has launched!
We’ve had a lot of learnings and a whole lot of improvements pushed to increase the CEX appeal at Flash.

Some highlight of the wins and things we can improve:
1. During the first rapid corrections across crypto markets we couldn’t process as much volume as we ideally would have wanted. We deliberately kept tighter risk restrictions so that we could study from real trading happening in production. We evaluated the data from these times and slightly loosened the risk restrictions which made Flash 50%~ more profitable during the subsequent market corrections that followed from the additional volume served. FLP showed its true strength as a foundational asset that can withstand crypto’s spikes in volatility and stands to be one of the most profitable places to earn real yield on-chain.
2. Priority fees have been on top of mind for all dapp developers and I’d like to give a huge shoutout to my teammates @XohebS and @Mabrehan for shipping one of the most efficient programs in all of Solana DeFi. Due to their efforts, we were able to land transactions even during the most congested times (yes, even yesterday!) without an issue.
3. UI load up times and chart refresh rates have been a cause of concern since we aim to compete with the likes of Binance and Bybit that show data at near milliseconds speeds. We are fully decentralized so we are limited in some technological respects (blockchain delay never goes below 400ms, ping times of 200ms, etc). Nevertheless, we aim to close the lag in coming weeks to make updates happen at the speed of light and deliver the trading experience we deserve on Solana. We eagerly await Fire Dancer to go live as well allowing us to move past that pesky speed of light limitation that currently exists.
4. Pyth’s oracle staleness and confidence intervals are the topic of significant discussion among DeFi protocols who use them. Unfortunately, we still have instances of some DeFi protocols not implementing appropriate measures opening up users to significant risks they had not considered. We are closely working with Pyth on this to make sure we learn from every lesson the market has presented us so far.
5. Fees on Flash have routinely been one of the cheapest across the DeFi ecosystem while keeping an industry leading user experience. We have not highlighted this appropriately yet and we will focus on showcasing the comparisons going forward.

All in all, the journey has been rewarding with the epic community of Beast holders continually supporting us (the Beast holder chat in flash discord keeps on buzzing) and fully understanding the mission statement at Flash. We couldn’t ask for a better community.

And recently, we launched Solana’s first FX and Metals markets that allow trading at the lowest fees and high leverage with ZERO slippage. We will be continually adding to the list of tradable assets on Flash. It’s still just the beginning.

Beast Mode On!

[Anas ⚡️ @allinbitcoin_]

DAO structures are boring!
(there is a catch let me explain it below)

Building on Solana for 3 years now and witnessing multiple times how Solana validators came together in the middle of the night made me realise how aligning holders with substantial incentives can most effectively align people. Although you can never align everyone, you just need to ensure that the majority understand the value of the protocol.

With Flash beasts mint, we ensured we had 5555 individual beasts. At the current count, there are around 1.7k unique holders, which is good enough given the size of the exchange. And with the Pokemon themed evolutionary mechanism of the beasts, we are already seeing the system in action. Holders who have levelled up their beasts are not willing to sell, as they are now invested in the protocol's growth and will earn more if the exchange grows. This system shows why appointing random influencers as DAO members is a wrong DAO structure, especially since they were given allocations based on their (sometimes fake) follower counts, while Flash Beast holders levelled up for real using their own dollars and did the work needed all the while understanding everything about the protocol. Also all the stats stored on the blockchain – a first of its kind.
We see beast holders as ambassadors and owners of Flash Trade! Today, with the referral system going live – another first in our industry – we will nail the point I am making: growing a community of ambassadors around the protocol by making them work for it is much better than onboarding random people to help grow the presence of a protocol. We are witnessing a new DAO structure in the works, one that is based heavily on incentivizing holders for their work, not their social influence.

p.s. if I am not wrong Flash Trade is the only protocol that is live on mainnet and fully bootstrapped by a smol passionate team building with our hoodies on!

Beasts never rely on anyone for their survival haha

[Flash.Trade | Perps on Solana @FlashTrade]

It's been a crazy 10 days at Flash Trade⚡️

Join us tomorrow on our next Community Call among the Beasts

Time 🔔 4:00 PM UTC

Place 📍 Flash Trade Discord

[Flash.Trade | Perps on Solana @FlashTrade]

It's coming⚡️⚡️⚡️

[Anas ⚡️ @allinbitcoin_]

Reflecting on the first 10 days since the launch of Flash Trade⚡️:

• Flash is handling record volumes with beast holders only allowed to trade at limited capacity, and we are handling around $5 million daily average volume across 3 assets, i.e., BTC, SOL, and ETH (this list is going to expand to 10 assets in the coming weeks).

• Yesterday’s fake ETF news set a new record for liquidations on Flash, with $1.1 million being liquidated in one day and again zero bankruptcies. Since liquidations give back collateral to the pool, the pool has earned around $100k from liquidations in just 10 days of trading.

• The total fee distributed to FLP holders to date is $82,329, and at current estimates, the APY for NFT holders is 344%, and for external LPs, it's 183%. Flash beasts are beasts in their own right!

One important thing to highlight is that Flash Trade is one of the handful places in the entire crypto industry where traders can take $1 trades at 100x leverage at the cheapest fee and lowest latency thereby fulfilling our mission statement of Flash being the fastest and cheapest exchange to trade.

In the coming days, we expect the volumes and TVL of Flash to grow even further as referrals, along with non-crypto trading, goes live.

Also we are taking things at our own pace, as the opportunity at hand is bigger than what many understand. With Solana's execution speed and Flash’s superior UX, we are well within reach of replacing a tier 1 perps CEX in the next 3-5 months, showing the world the power of permissionless finance.

It’s the season of BEASTS!

[Flash.Trade | Perps on Solana @FlashTrade]

DEX with a CEX appeal.

[Flash.Trade | Perps on Solana @FlashTrade]

We're LIVE on Mainnet! ⚡️

BEAST MODE: ON

[Wormhole @wormhole]

Fock it.

Get your Backpacks ready.

@MadLadsNFT @xNFT_Backpack

[Solana Legend 🎒💧 @SolanaLegend]

Join us tomorrow for another Mad Lads community Townhall

Things are getting very interesting lads 👀

https://t.co/2R76k7EiNu

[Mad Lads @MadLads]

@DeFi_Land Fock it.

[Ash Crypto @AshCrypto]

If Bitcoin doesn’t break $40,000 in
next 4 days, I will give $2500 BTC to
25 people who retweet this and are
following me.

Bet is still on !

[Mad Lads Sales Bot @MadLads_Sales]

Fock it. Mad Lads #4128 sold for 180.00 SOL

$ 10,508.4 USD
Ξ 5.12 ETH

 MadLadsNFT
🛒 https://t.co/q1BMwCK3ES
🧾 https://t.co/a6tAxLyE7j

[Kobe 我的刀盾 @0xKob3]

1/ Chromie Squiggle by Snowfro, founder of Artblocks, [9.3 ETH] floor (10K supply).

2/ Trademarks by Jack Butcher and curated by Artblocks, [0.21 ETH] floor (10K supply).

Thesis is simple: Trademarks are Jack's Squiggles. 🤌✨

[Ash Crypto @AshCrypto]

If Bitcoin doesn’t break $40,000 in
next 5 days, I will give $2500 BTC to
25 people who retweet this and are
following me.

Last time I lost the bet, let’s see what
happens this time lol.

[Mad Lads @MadLads]

Less than 24 hrs! Don't miss it: https://t.co/61IxJwLWFE

Any Lad holder with a Backpack Wallet can participate

[Landon Sousa | Avem @avemfn]

I have a feeling @MadLadsNFT is about to explode…

Here is why:

(🧵👇)

[Mad Lads @MadLads]

Attention All Lads — Raffle Party!

[Mad Lads @MadLads]

Mad News #25

‣ @ayo_bandara is Mad Lad of the Week
‣ @MadLadsNFT announces a 1/1 raffle for holders
‣ @xNFT_Backpack onboards over 100k applicants
‣ @madshield_xyz completes Token 2022 audit
‣ @solana at Art Basel, dev resources, and more!

Read the full article below ⬇️

[Elon Musk @elonmusk]

Actions speak louder than words