The Asexual Pride Flag was created by a user named Standup during an informal contest of sorts in the Asexual Visibility & Education Network (AVEN) forums. Standup made his post at 4:36 pm on June 30, 2010, and soon after it became the official flag of the asexual community.
The colors were assigned these meanings:
Grey: Greysexuality and Demisexuality.
White: Non-asexual partners and allies.
Thank you Standup for giving our communities one more thing to hold high with pride!