Seamless Protocol Debuts SEAM Tokens on Coinbase, Pioneering First Base-Blockchain Asset Listing

Seamless Protocol, operating within the Coinbase Base blockchain ecosystem, has launched its governance token, SEAM, making it the first Base blockchain token to be listed on the Coinbase exchange. The listing is set for 18:00 UTC on Monday.

Known for its lending and borrowing services, Seamless Protocol has established itself as a key player in the layer-2 blockchain arena, boasting a total value locked (TVL) in excess of $10 million. SEAM tokens were distributed via an airdrop to its users, rewarding their participation and financial activities on the platform, such as supplying and borrowing funds within its trading pools. Notably, there was no initial public or private sale for SEAM tokens.

Prior to the release of SEAM, Seamless Protocol had initiated the “OG Points” program, which rewarded liquidity providers, borrowers, and staking participants with points directly in their on-chain wallets. These points have now been transformed into SEAM tokens, which are tradeable on the market.

The development of Seamless Protocol was a collective effort involving contributors from various sectors of the Web3 space, including Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth. This collaboration has culminated in a robust protocol with a diverse backing.

One of the hallmark offerings of Seamless Protocol is its Integrated Liquidity Markets (ILMs). These ILMs are reminiscent of dedicated-purpose loans, akin to those found in traditional finance for cars or homes, offering more favorable terms compared to general-purpose loans. However, in the case of ILMs, the funds are constrained to specific uses, like borrowing particular tokens or engaging in staking activities.