dTrade.org was a startup initially focused on creating a decentralized trading platform on the Kusama network. However, the Firefly Foundation, which oversees dTrade, decided to pivot its focus entirely towards developing Firefly, a more promising project in the decentralized finance (DeFi) space. This decision was based on feedback from liquidity providers and market makers, who indicated that dTrade's markets wouldn't be liquid enough to offer long-term value.

Firefly aims to combine the best aspects of centralized finance (CeFi) and decentralized finance (DeFi). It seeks to offer the speed, liquidity, and low costs typical of CeFi while maintaining the transparency, composability (the ability to integrate with other financial products), and permissionless nature of DeFi. This makes Firefly particularly appealing for derivatives trading, which is the largest market by trading volume.

The primary clients for Firefly are traders and investors who are looking for a more efficient and transparent way to trade derivatives. These clients range from individual retail traders to institutional investors. Firefly operates in the DeFi market, which is a rapidly growing sector within the broader cryptocurrency and blockchain industry.

Firefly's business model involves creating a platform where users can trade derivatives. The company makes money through transaction fees, which are charged on each trade executed on the platform. By focusing on delivering a strong user experience and ensuring high liquidity, Firefly aims to attract a large user base, which in turn will generate substantial transaction volume and revenue.

In summary, Firefly is a cutting-edge DeFi platform designed to revolutionize derivatives trading by merging the best features of CeFi and DeFi. The pivot from dTrade to Firefly allows the team to scale infrastructure faster and release upgrades more quickly, ensuring a robust and user-friendly trading experience.

Keywords: DeFi, derivatives, trading, liquidity, CeFi, transparency, composability, permissionless, Firefly, blockchain.