It's official, dTrade welcomes Firefly to the family as its parent platform! dTrade will soon become the first decentralized derivatives platform on Kusama, while Firefly is getting ready to take flight on Polkadot. The core exchange contracts were submitted to the second of two final security audits a few days ago. dTrade will launch to start pioneering the exchange features and token utility shortly after the audit is complete.

Both Firefly and dTrade are orderbook decentralized exchanges (DEXs) designed for speed, scalability, and transparency. The two platforms exist with a deeply shared vision to bring open finance to millions of users by bridging the best of CeFi with the best of DeFi. The latency, liquidity, and low cost of CeFi combined with the transparency, composability, and permissionless nature of DeFi make dTrade and Firefly convincing alternatives to centralized exchanges.

Following the precedent set by Kusama and Polkadot, dTrade will become the canary deployment of Firefly. While the dTrade Exchange will be deployed on Moonriver secured by the Kusama relay chain, Firefly will live on Moonbeam, connected to the Polkadot relay chain. The canary deployment will be a place for bold experimentation, introducing new products and features, and pushing the limits to the maximum. The community will drive the evolution of both platforms. While DTX token holders will govern dTrade, FFLY holders will control Firefly.

Firefly on Polkadot

From the bug that lights up the night to the iconic sci-fi series, Firefly embodies the concept of tracing a path through the darkness as something beautiful and cutting-edge. Those associations fit perfectly with the vibrant aesthetic of the fastest decentralized exchange, built on optimistic rollups within the Polkadot network. Please go to the new website for more information. The launch of Firefly's application and liquidity programs will happen after Moonbeam becomes a Polkadot parachain.

dTrade on Kusama

dTrade, which stands for decentralized derivatives trading, will be a community-led Kusama deployment with identical technical capacities to those envisioned for the Polkadot's Firefly. However, dTrade will have a faster evolution cycle than Firefly, which means that token mining programs will be accelerated, and governance time-based parameters will allow upgrades to happen more rapidly. A few objectives for dTrade include experimentation, and validation of new features and utility by trial and error in the real world.

The economic model behind dTrade's native DTX token was carefully engineered to provide sustainable rewards to traders and bootstrap a robust, decentralized governance ecosystem for the stakeholders of dTrade. DTX will flow back directly to traders to facilitate decentralized governance over the canary exchange on Moonriver, built by the community for the community.

Stay tuned! The announcement of the proposed allocations and distribution programs for the DTX token will come out in about a week.


In place of company management staff, the DAO composed of token holders shapes the future of dTrade and Firefly. Adding new markets, designing the fee structure, and managing the treasury are some of the critical responsibilities of the DAO. Token holders have a vested interest in making wise decisions that benefit all stakeholders.

Electing and voting for Improvement Proposals happens via voting power associated with held tokens. Initially, the tokens will not even be transferable until the DAO votes otherwise. Enabling token transferability is expected to be one of the first proposals via on-chain governance. The DTX and FFLY tokens are not required to use the platforms, trade, or add liquidity.

Pushing the Limits

The motivation behind both deployments is to fill the void in the current digital asset market for a universally accessible, equitable, and technologically-excellent platform. We invite you to join our community on the journey of pushing the limits by making DeFi faster, less expensive, more accessible and technologically robust than ever before.

Disclaimer: The products available on Firefly and dTrade are not available for use by Canada and US Persons or residents of any country or jurisdiction subject to US sanctions.