BlockBeats News, August 21st. Solana perpetual contract trading platform GMTrade announced a soft proposal to acquire the previously announced or to be discontinued Flash Trade. GMTrade also plans to airdrop GT points to FAF token holders and liquidity providers. The specific snapshot time is to be determined. GMTrade stated that this acquisition, although not the ideal exit strategy originally expected by the team, is currently considered a more stable outcome for the community with a clear path forward.

Earlier, Flash Trade had indicated that if a suitable acquirer was not found, the protocol would gradually cease operations. Subsequently, it is seeking to sell its technology stack, brand, and intellectual property, with the proceeds from the sale to be distributed to FAF holders based on their holdings.