# SecondSwap - The Dex For Locked Tokens

Page: https://stenobird.com/podcast/the-crypto-conversation-1035747/secondswap-the-dex-for-locked-tokens
Text version: https://stenobird.com/podcast/the-crypto-conversation-1035747/secondswap-the-dex-for-locked-tokens.md
Podcast: [The Crypto Conversation](https://stenobird.com/podcast/the-crypto-conversation-1035747)
Published: 2026-01-06T22:31:00+00:00
Episode link: https://bravenewcoin.com/insights/podcasts
Audio file: https://traffic.libsyn.com/secure/thecryptoconversation/kanny_pod.mp3?dest-id=1363583
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JSON: https://stenobird.com/v1/public/podcasts/the-crypto-conversation-1035747/episodes/secondswap-the-dex-for-locked-tokens
Duration seconds: 1492

## Resource

Andy sits down with Kanny Lee, CEO and co-founder of SecondSwap, to explore one of crypto's most under-discussed structural problems: liquidity for locked and vested tokens. With a background spanning two decades in Big Four forensic accounting and early institutional crypto OTC trading in Hong Kong, Kanny brings a rare blend of TradFi discipline and on-chain realism to the conversation. Why you should listen Kanny explains why crypto's evolution now demands proper secondary market infrastructure—something traditional finance has always relied on, but Web3 has largely ignored. SecondSwap is building a decentralized, on-chain marketplace that allows locked token positions to be traded without breaking vesting schedules, inflating supply, or undermining token integrity. By operating directly at the smart-contract layer, SecondSwap enables partial exits, discounted entry for new investors, and real liquidity where none previously existed. The discussion digs into "mid-life markets," token dump cycles, and the difference between superficial liquidity driven by short-term speculation versus sustainable liquidity built on conviction and patience. Kanny makes the case that healthy secondary markets could be a missing piece behind the stalled altcoin cycle—and that better liquidity design benefits founders, early investors, and new entrants alike. The conversation wraps with rapid-fire hot takes on Bitcoin maximalism, real-world assets, AI, privacy chains, and whether another alt season is still possible. Supporting links Stabull Finance SecondSwap Andy on Twitter Brave New Coin on Twitter Brave New Coin If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.

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## Transcript

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