SecondSwap Launches on Solana Mainnet, Opens Bidding for Locked SOL, JUP, BONK, WIF and More
DA NANG, VIETNAM, June 5th, 2025, Chainwire
SecondSwap, the pioneering decentralized exchange for trading locked and vesting tokens, announced its official launch on the Solana blockchain during Solana Summit APAC. As part of its “Solana Season” campaign, the platform is now accepting bids for select locked Solana-native tokens, including SOL, Jupiter (JUP), Raydium (RAY), Jito (JTO), and popular memes BONK and WIF.
With over $100 billion in locked tokens across the industry, SecondSwap enables a new market opportunity by offering transparent, decentralized bidding and trading for illiquid tokens – without impacting existing tokenomics or relying on opaque OTC desks. Ethereum and Solana lead the industry in total value locked (TVL), ranking first and second respectively, according to CoinGecko. With SecondSwap now live on both mainnets, users gain access to the deepest and broadest pool of vesting and emerging tokens in the market.
Together, the two dominate on-chain activity – Solana alone sees over 72,000 new tokens minted daily, fuelled by meme culture and the ease of fast, low-cost issuance. But with that velocity comes volatility.
“Sustainable liquidity is the next step in maturing our ecosystem,” said Anh Tran, Solana Summit organizer and APAC Superteam Lead. “With thousands of tokens launching daily, many without structured unlocks, SecondSwap introduces a more measured, market-driven path forward to reduce post-airdrop chaos.”
“Solana is where speed meets scale,” said SecondSwap Founder, Kanny Lee. “Sustainability for a fast moving ecosystem like Solana will benefit from time locked assets that are more effectively distributed across the community.”
SecondSwap’s expansion onto Solana delivers a fully democratized secondary market that brings much needed structure, pricing signals and pre-vest liquidity to a chain with one of the highest volumes of new token issuance and upcoming token unlocks.
“By introducing transparent pricing, liquidity access, and built-in guardrails, SecondSwap is helping to bring market maturity to the fast-moving world of memes and the broader Solana economy.” Lee said.
Locked Solana tokens are increasingly being acquired by corporate treasuries through OTC transactions, as firms seek to replicate the success of Strategy’s (formerly MicroStrategy) Bitcoin-first treasury model. NASDAQ listed Upexi Inc. purchased over 326,000 locked SOL tokens at discounted rates, amassing a total holding valued at approximately $102 million. These strategic acquisitions allow companies to obtain $SOL below market price, stake for yield, and wait out vesting periods – highlighting a growing institutional appetite for Solana as a long-term treasury asset. Yet, these opportunities remain largely inaccessible to the broader market.
SecondSwap changes that. By bringing locked-token markets on-chain, it removes the exclusivity of OTC channels and makes price discovery open to all. Unlike current trading desks that favor block trades and whales, SecondSwap allows any participant – from retail to institutional – to participate, resulting in a more inclusive, liquid, and efficient market for locked tokens.
To participate in SecondSwap’s bid campaign, users whitelist their wallet and place non-binding bids indicating their preferred price and vesting term. When matching inventory becomes available, bidders are granted first-right access to purchase at or near their specified terms. The bidding process is fully transparent and democratized, with no minimum investment required. There is no limit to the number of bids a trader can place.
SecondSwap’s expansion marks a major leap for Solana’s secondary token markets, where projects and token holders alike seek greater flexibility, yield, and price efficiency in the face of large unlock events.
Speaking on this broader market dynamic, Lee added “Solana is the birthplace of meme coins – but many aren’t built with traditional tokenomics in mind. SecondSwap offers a new way to manage the post-airdrop chaos by structuring liquidity and softening volatility. It’s a smarter path forward for issuers and communities alike.”
Interested investors can now indicate interest and place zero-commitment bids on a growing list of locked Solana-based assets at https://secondswap.io/solana-season. After the initial bid campaign period, the listed tokens will be available for purchase on the SecondSwap marketplace in varying lot sizes and vesting tenors.
The Solana launch follows successful activations on Ethereum and Avalanche, with SecondSwap’s multichain roadmap continuing to target ecosystems where large token unlocks meet growing liquidity demands. Users of the platform can expect more Solana tokens to be added in the coming weeks.
About SecondSwap
SecondSwap is revolutionizing OTC trading by providing a secure, transparent, and decentralized marketplace for locked tokens. The platform promotes a more efficient market for illiquid assets by eliminating intermediaries and establishing transparent and fair token value – backed by its proprietary Smart Vesting Protocol. Users can learn more at secondswap.io
