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FlyerExchange is a new Facebook apps advertising network (in case you weren't tired of new ad networks launching this week) that lets you buy and sell ads for Facebook applications. These little ads look a lot like Facebook flyers. Hopefully FlyerExchange won't end up in deep trouble with the big guy.
The ads look very much like Facebook flyer ads, and reside on unused space on developers' applications, like right below the left-hand menu, or on the top-right corner outside the canvas page. As a developer, you can buy ads outright. They'll cost you about ten cents per click. Or you can sell others' ads to earn points. These points can be exchanged for your own ads, or for cash. It looks like this particular ad network isn't limited to developers. Any Facebook user can sell these flyer exchange ads, and even promote them on their own websites with code provided by FlyerExchange.