Odaily Planet Daily News SecondSwap, a secondary token market, launched its mainnet on Ethereum on Thursday. The project aims to provide a more efficient market for illiquid assets by eliminating intermediaries and establishing fair token values in the open market.
SecondSwap uses a liquidity routing algorithm to optimize transaction execution and minimize price slippage to ensure that buyers and sellers have a secure and scalable trading experience.
Kanny Lee, founder of SecondSwap, said in an email: "By introducing a decentralized order-based exchange, we bring transparency to the secondary token market." The platform plans to expand to the Solana network in the coming months, and Lee said the move could bring more than $500 million in trading volume. (CoinDesk)
In December last year, SecondSwap announced the completion of a $1.2 million seed round of financing, with GSR and Animoca Ventures, E4 Capital, Yellow Capital, BCW Group, HGEN DAO, ARC Community, Nonco, and Libra Capita participating. The funds will be mainly used to expand SecondSwap's market functions.