SecondSwap Goes Big: Now on Avalanche After Ethereum Success!

Hold onto your hats, crypto fans! SecondSwap just dropped a bombshell on Tuesday: they're expanding to the Avalanche blockchain after crushing it on Ethereum earlier this year.

Get this: they're shaking up the game by offering a crystal-clear and open secondary market for tokens that are tied up in vesting schedules or early contributor lockups. We're talking over $100 billion in value, according to a hot Tokenomist report from earlier this year!

SecondSwap? It's the decentralized exchange that's all about those locked and vesting digital assets, baby!

After lighting up Ethereum (ETH) back in February, SecondSwap's move to Avalanche (AVAX) is bringing some serious firepower with native smart contracts. These bad boys are all set to manage token lockups, handle secondary trading, and nail down price discovery right on the chain!

Bringing transparency to locked token trading

Listen up: trading locked tokens used to be stuck in the dark corners of private, off-market deals. The problem? No transparency and a heap of settlement risks.

"Today's secondary market for locked tokens is stuck in the Stone Age - manual, shady, and a total drag," Kanny Lee, the mastermind behind SecondSwap, declared in the press release. "We're flipping the script by taking locked token trading fully on-chain, with smart contracts that serve up clear pricing, legit asset transfers, and instant settlements."

Projects jumping on SecondSwap can now issue, price, and trade locked assets without needing those pesky third-party services. And for investors? You're in for a treat with a bidding system that lets you throw down discounts and pick your favorite vesting periods.

We're talking lockup periods of three, six, and 12 months, which means more folks can get in on the action, not just the big shots.

And get this: early birds who whitelist their wallets and throw down some bids could score discounted tokens compared to what's going on in the market right now.

Expansion supports Avalanche’s DeFi growth plans

Justin Kim, the bigwig at Ava Labs in Asia, said this launch is a perfect fit for Avalanche's master plan to beef up DeFi infrastructure and pump up tokenized asset markets.

"SecondSwap is right in line with what Avalanche's all about: making asset ownership digital, open to everyone, and way less risky," he said.

Oh, and did I mention? SecondSwap's expansion comes hot on the heels of a $1.2 million seed funding round led by GSR and Animoca Ventures. They're not stopping there - they're all about building more tools to help manage token projects' whole lifecycle on-chain, aiming to chill out the volatility from unlock events and make the market run smoother overall.