1 day ago
Secondary token markets SecondSwap connected Thursday launched its mainnet connected Ethereum with the purpose of providing a much businesslike marketplace for illiquid assets by eliminating intermediaries and establishing just token worth successful the unfastened market.
SecondSwap uses a liquidity routing algorithm that optimizes commercialized execution and minimizes terms slippage to guarantee unafraid and scalable trading experiences for buyers and sellers.
“By introducing a decentralized bid book-style exchange, we are bringing transparency to token secondary markets,” said Kanny Lee, laminitis of SecondSwap, successful an email to CoinDesk.
“Our level provides visibility into bargain and merchantability orders, leveraging terms find mechanisms specified arsenic marketplace extent and liquidity profiling. Through seamless wallet integration, we guarantee impervious of power for sellers and impervious of funds for buyers, enhancing information and trust.”
Secondary markets for locked tokens notation to platforms oregon mechanisms wherever tokens that are nether immoderate signifier of lock-up oregon vesting docket tin beryllium traded earlier they are afloat released oregon unlocked.
These markets supply a mode for holders of locked tokens to summation liquidity, meaning they tin person their holdings into currency oregon different assets earlier the tokens are afloat unlocked — giving aboriginal liquidity to sellers and the accidental of gaining assets astatine a discount for buyers.
SecondSwap has introduced a bid run to facilitate terms find and heighten liquidity successful aboriginal weeks, allowing traders to acceptable their ain prices and enactment matching betwixt buyers and sellers erstwhile the buy/sell travel diagnostic is enabled.
Traders nexus their wallets, accessing a database of locked tokens that they tin explicit an involvement successful buying by mounting their preferred terms target. Participants volition beryllium notified erstwhile inventory is disposable astatine prevailing prices, ensuring aboriginal adopters tin prosecute with caller opportunities arsenic they emerge.
The level plans to grow to the Solana web successful the coming months, a feat Lee says could unlock implicit $500 cardinal successful volume.
“Locked token liquidity represents billions of dollars of untapped value. The interaction of unlocking this liquidity cannot beryllium understated. On Solana alone, adjacent activating conscionable 10% of dormant liquidity, could inject implicit $500 cardinal successful actionable volume,” Lee said.
“It’s decidedly 1 of the drivers for partnering with Solana astatine the outset. When coupled with the interaction that SecondSwap’s vesting mechanics tin connection memecoins - to trim circulating proviso - the Solana concern volition proceed to flourish and payment the wider market.”
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