FAQ
General FAQs
What is SecondSwap?
SecondSwap is a decentralized, on-chain marketplace for trading locked or vested tokens and is underpinned by proprietary smart contracts. It eliminates intermediaries, escrow, and manual negotiations by enabling secure, automated transactions with transparent pricing and token issuer verification.
How does SecondSwap work?
Tokens are deposited into proprietary native smart contracts or connected via bridge contracts for legacy vesting tokens to be traded on-chain in a decentralized Marketplace.
How does SecondSwap ensure security?
The platform uses audited smart contracts for on-chain execution. Transactions are trustless, with token issuers verifying listings and assets delivered directly to wallets upon settlement.
What are the benefits for sellers?
Unlock liquidity from locked tokens before vesting ends.
Set reserve prices and sell without escrow.
Earn profits early and reinvest capital.
How do buyers benefit?
Access exclusive discounts on high-demand tokens.
Purchase via stablecoins (e.g., USDT) for price certainty.
Resell acquired lots before unlock periods.
What advantages do token issuers gain?
Control token distribution and reduce sell pressure.
Earn transaction fees and maintain market stability.
Pre-authorize trades to ensure legitimacy.
How do I start trading on SecondSwap?
Connect a Wallet: Follow the steps to link supported wallets (e.g., MetaMask).
Browse or List: Buyers bid on tokens; sellers list lots in the "My Assets" section.
Confirm Transactions: Trades settle on-chain automatically.
What fees apply?
Sellers: 2.5% fee per listing sale.
Buyers: 2.5% fee per purchase.
Token Issuers: Earn a share of transaction fees.
Are there risks to buying locked tokens?
Locked tokens cannot be traded until the unlock date. Market prices may fluctuate, so research risks before bidding.
What is the $2S token used for?
Discounts on trading fees.
Staking for rewards and revenue-sharing.
Access to platform perks (e.g., early token listings).
How does SecondSwap differ from OTC markets?
No intermediaries: Automated, on-chain execution.
Transparent pricing: Market-driven bids and volume discounts.
No escrow: Direct stablecoin settlements.
Can I resell purchased locked tokens?
Yes! Buyers can relist acquired lots in the marketplace, creating a liquid secondary market.
What chains does SecondSwap support?
The platform is multi-chain compatible, enabling cross-chain trading without barriers. At launch, the platform will support Ethereum mainnet followed shortly by well known Layer 1 Foundations Avalanche and Solana. Other new chains will be announced in due time.
How are vesting schedules handled?
Tokens are managed via proprietary smart contracts or bridged from legacy vesting agreements. Schedules remain intact even when lots are resold.
What if I need help?
Use the 24/7 AI bot (web widget or Telegram) or submit a contact form for unresolved issues.
How does SecondSwap prevent price manipulation?
Transactions are automated with public bids, reserve prices for sellers, and issuer pre-approvals to ensure fair market value.
Where can I learn more?
Bid Campaign FAQs
What is the SecondSwap Bid Campaign?
The Bid Campaign allows users to secure discounted locked tokens (e.g., Solana, AVAX, ZkSync) by creating an offer (bid) with their desired discount rate and unlock date. Once qualified, you’ll be notified via Telegram when your discounted tokens are available for purchase.
How do I qualify for the promotional discounted lots?
To qualify, you must:
Create a bid for a coin.
Link your crypto wallet to Telegram. It must have a non-zero ETH balance.
Share the coin details on Twitter.
How do I create a bid?
Follow these steps:
Launch the app, connect your wallet, and go to the Markets page.
Click a featured coin and select Create Offer.
Adjust the slider to set your desired discount to the spot price.
Select an unlock date for claiming tokens.
Enter the amount of tokens you want to buy.
Confirm your bid and click Get Notified on Telegram.
Which coins are available for discounted bids?
The current featured coins include Solana (SOL), Avalanche (AVAX), and ZkSync (ZK). Check the app for updates.
How does the discount work?
You set your preferred discount percentage (e.g., 10% below market price) using the slider. If your bid is accepted, you’ll pay the discounted rate for the tokens. Note: SecondSwap reserves the right to adjust the final sale price.
What is the “unlock date”?
This is the date when you can start claiming your purchased tokens. Tokens remain locked until this date.
How will I be notified when my bid is accepted?
You’ll receive a notification via Telegram after linking your wallet to your Telegram account. Ensure notifications are enabled.
How do I link my wallet to Telegram?
After creating a bid, follow the in-app prompts to securely connect your wallet to your Telegram account.
What should I include when sharing on Twitter?
Share the coin name, discount rate, and unlock date from your bid. Tag SecondSwap to increase visibility.
Can I cancel or modify my bid?
Bids are final once confirmed.
How long does it take for discounted tokens to become available?
The timing depends on the token availability. You’ll be notified via Telegram once the tokens are available.
Who do I contact for support?
Reach out via the app’s help section or the @SecondSwap_bot Telegram channel linked during the bid process.
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