Secondswap DEFI Secondary Locked Token Marketplace
Decentralized Exchange · Secondaries Marketplace · Landing layout aligned with Hoasen
What we did:
SecondSwap enables trading of locked and vesting token allocations before unlock, giving sellers liquidity and buyers discounted, transparent on-chain vesting. The build required a partner covering Avalanche, Ethereum, and Solana, from contracts to user-facing products and transparency boosting dune dashboards.
Brief & Background
In conventional crypto fundraising, early investors and team members typically receive tokens subject to vesting schedules that restrict transfer and liquidity for long periods. That illiquidity is costly for holders who want optionality, and it limits how new participants can access these allocations on clear, verifiable terms. SecondSwap addresses that gap by making vesting positions tradable while preserving clarity about what is being bought and when it unlocks. Supporting multiple ecosystems was essential because token issuance, liquidity, and user behavior are not confined to a single chain; the product therefore needed cross-chain depth (contracts, apps, and analytics), not a single-stack prototype.
Business Objectives
Build Smart Contracts for Tradable Vesting
Design and deploy step-vesting and marketplace contracts on EVM (Solidity) and SVM (Anchor/Rust) that enable listing, purchasing, transferring, and claiming of vesting positions.
Launch a Multi-chain Marketplace
Deliver a production marketplace where users can discover, list, and purchase vesting allocations across Avalanche, Ethereum, and Solana with a unified experience.
Achieve Foundation Grant Milestones
Delivered capabilities top unlock milestones for 2–3 major blockchain foundations, including launches on Avalanche, Solana, and Ethereum by hitting user and transaction growth targets, and measurable protocol adoption.
Establish Analytics & Reporting
Build public-facing analytics (Dune dashboard) and internal operational dashboards (Metabase) to track TVL, transactions, connected wallets, and chain-level metrics.
Our Solution
Secondary Locked Token Marketplace
Secondary marketplace & marketplace contract — We built a secondary marketplace backed by a marketplace smart contract so holders can list tokens and list vesting positions for sale, turning long-dated schedules into tradeable positions. Vesting contracts can be split into multiple tranches—buyers purchase pieces of a position and claim those tranches on their own schedule; sellers can exit early, take profit, or re-list as the market moves. The experience is multi-chain, with support on Solana, Ethereum, and Avalanche.
Token issuer Portal & Vesting Smart Contract
A token issuer portal lets users deposit tokens, lock them in a vesting smart contract, and follow configurable schedules (e.g. weekly, monthly, quarterly, or yearly) so tranches unlock and can be claimed on time. Issuers can bulk-upload recipient addresses, track each user’s position in one place, and set a max sell cap on the asset to help manage supply as tokens move.
Dune Dashboard and Defillama Integration
Build public-facing analytics such as an integration and setup of a Dune dashboard and Defillama metrics reporting. Further, we developed internal operational dashboards (Metabase) to track TVL, transactions, connected wallets, and chain-level metrics.
Technical Infrastructure
Project Gallery
Outcome
Hoasen worked with secondswap over more than one year through the launch of the platform on 3 different networks. Our work included developing the smart contract and refactoring and launching a second version of the smart contract with improved capabilities
- 5,000 Users Reached a key milestone of
- $6M peak TVL The platform hit about six million dollars in total value locked at peak, across the chains it supports.
- Foundation grant milestones achieved Deliverables for two to three foundation programs shipped on schedule—EVM go-lives, user milestones, and transaction targets included.
- Significant investment secured A substantive round came together on the strength of the shipped product and clear traction in the market.
SecondSwap proved that locked vesting positions can trade as a liquid asset class. The protocol now runs across three major ecosystems, with a growing user base and an active marketplace—set up for the next phase of growth.
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