New and Improved: SecondSwap Leaps into Avalanche, Revolutionizing the Secondary Market for Locked Tokens
SecondSwap broadens its reach to Avalanche to amplify locked token trading opportunities
In a groundbreaking move, SecondSwap has announced its entry into the Avalanche blockchain ecosystem. After a triumphant launch on Ethereum earlier this year, SecondSwap is set to offer a transparent and user-friendly secondary market for tokens tied to vesting schedules or early investor lockups. Exclusively for us, here's the scoop.
SecondSwap, a decentralized exchange focusing on locked and vesting digital assets, is all set to transform the secondary market scene with the integration of native smart contracts for managing token lockups, secondary trading, and price discovery right on the blockchain.
Bye-Bye, Hidden Deals!
Traditionally, trading locked tokens has been confined to private, underground transactions. The disadvantage? Lack of transparency and settled risks.
"The existing secondary market for locked tokens remains shrouded in mystery, manual, and stagnant," says Kanny Lee, Founder of SecondSwap, in the official statement. "SecondSwap aims to smash this model to smithereens by taking locked token trading fully on-chain, offering smart contract execution for transparent pricing, verifiable asset transfers, and instant settlements."
Projects leveraging SecondSwap can issue, price, and trade locked assets without necessitating third-party services. Investors can revel in the bidding mechanism, which allows users to propose discounts and opt for preferred vesting periods.
Forget huge chunks; lot sizes now come in convenient tiers of three, six, and twelve-month lockup periods, catering to a larger pool of investors, not just institutional juggernauts.
Early birds who whitelist their wallets and place bids might secure themselves some discounted tokens compared to market prices prevailing at that moment.
Avalanche's DeFi Growth Ambitions Get a Boost
Justin Kim, Head of Asia at Ava Labs, emphasizes that the integration aligns with Avalanche's broader objective to expand DeFi infrastructure and support tokenized asset markets.
"SecondSwap strikes a chord with Avalanche's mission to digitalize, democratize, and secure asset ownership," he says.
SecondSwap's expansion accompanies a $1.2 million seed funding round led by GSR and Animoca Ventures. The company is determined to continue crafting tools to support on-chain lifecycle management for token projects, aiming to decrease volatility tied to unlock events and enhance overall market efficiency.
The Here and Now:
- On-chain Infrastructure: SecondSwap now provides native smart contracts on Avalanche for managing token lockups, secondary trading, and price discovery directly on-chain[1][2].
- Market Scope: The locked token market is estimated at over $100 billion across major blockchains, with Avalanche positioned to claim a share through improved liquidity[1][2].
- Trading Mechanics: The platform enables a bidding mechanism that allows investors to propose discounts and select preferred vesting periods (3, 6, or 12 months)[1].
- SecondSwap, a platform focusing on locked and vesting digital assets, has announced its integration into the Avalanche blockchain ecosystem, aiming to transform the secondary market scene with on-chain management of token lockups, secondary trading, and price discovery.
- The traditional secondary market for locked tokens has been confined to private, underground transactions, resulting in a lack of transparency and settled risks.
- SecondSwap aims to address this issue by taking locked token trading fully on-chain, offering smart contract execution for transparent pricing, verifiable asset transfers, and instant settlements.
- Projects leveraging SecondSwap can issue, price, and trade locked assets without requiring third-party services, and investors can utilize the bidding mechanism to propose discounts and choose preferred vesting periods.
- Lot sizes on SecondSwap now cater to a larger pool of investors, with convenient tiers of three, six, and twelve-month lockup periods.
- Early birds who whitelist their wallets and place bids may secure discounted tokens compared to market prices at that moment.
- Avalanche's broader objective to expand DeFi infrastructure and support tokenized asset markets aligns with SecondSwap's integration, as it digitalizes, democratizes, and secures asset ownership.
- SecondSwap's expansion follows a $1.2 million seed funding round, led by GSR and Animoca Ventures, and the company is committed to continuing the development of tools for on-chain lifecycle management for token projects, aiming to minimize volatility tied to unlock events and enhance overall market efficiency.
