New Update on #DotMarketCap: Firefly

Project Introduction

Firefly is a decentralized, orderbook-based exchange for financial products. The exchange uses a trustless layer-2 blockchain to combine the security and transparency of decentralized exchanges with the sub-second trade settlement and low cost of centralized ones.

Project Highlight

Traders on Firefly earn equity in the protocol based on the activity on the exchange. Unlike centralized exchanges that capture the value generated by the traders, Firefly allows for value to flow back to the users of the protocol.

Project History

Firefly was formerly called dTrade — the first derivatives decentralized exchange on Polkadot’s multi-chain network, according to those running the project. At a $50 million valuation, according to co-founder Nikodem Grzesiak, it secured lead backing from Su Zhu’s Three Arrows Capital and DeFiance Capital with investments from Polychain, ParaFi Capital and other crypto venture capital firms.

Team Members

Firefly was founded in August 2020 by Nikodem Grzesiak and Rabeel Jawaid. Nikodem and Rabeel met studying physics together at the University of Pennsylvania. Before founding Firefly, Nikodem worked at IONQ, where he contributed to the field of trapped-ion quantum computing.

More details at: https://dotmarketcap.com/coin/firefly/1