Secondswap announced the expansion of the Avalanche Blockchain -Ecosystem on Tuesday after a successful launch on Ethereum earlier this year.
The integration is designed to offer a transparent and accessible secondary market for tokens that are subject to fortress schedules or early contribution, Crypto.news can report exclusively. According to a tokenomistic report earlier this year, the sector is estimated to be more than $ 100 billion in value.
Secondswap is a decentralized exchange aimed at locked and established digital assets.
After the launch on Ethereum (ETH) in February, the expansion of Secondswap to Avalanche (Avax) introduces native smart contracts that are designed for managing token-lockups, secondary trade and price discovery directly on-chain.
Bringing transparency for locked token trade
Traditionally, the actions of locked tokens are limited to private, off-market transactions. The disadvantage is that it often lacks transparency and entails settlement risks.
“Today’s secondary market for locked tokens remains largely manually, opaque and inefficient,” said Kanny Lee, founder of Secondswap, in the press release. “Secondswap transforms this model by completely bringing locked token trade to the chain, with smart contract version that delivers transparent prices, verifiable assets transfer and real-time settlement.”
Projects that use Secondswap can be issued locked assets, price and trade without trusting third -party services. Investors can take advantage of a platform that offers a bidding mechanism with which users can propose discounts and select preferential fortress periods.
Lotgrottes consist of three, six and 12 months lock -up periods, which means better access for a broader range of investors, not just institutional participants.
Early users who place their wallets and bids may have access to discount stagens compared to the prevailing market prices.
Expansion supports Avalanche Defi growth plans
Justin Kim, head of Asia at AVA Labs, said that the launch fits in Avalanche’s wider strategy to expand the Defi infrastructure and support of Tokenized Activa markets.
“Secondswap is perfect for the mission of Avalanche to digitize, democratize and disconnect the possession of the ability,” he said.
The expansion of Secondswap follows a $ 1.2 million seed financing round led by GSR and Animoca Ventures. The company says that it is planning to continue to build aids to support lifecycle management on chains for token projects, aimed at reducing volatility that is linked to unlock events and improve overall market efficiency.