Seamless Protocol, a prominent player in Coinbase's Base ecosystem, has achieved a groundbreaking milestone by issuing its governance tokens, SEAM. These tokens, set to trade on the crypto exchange starting 18:00 UTC Monday, represent a crucial development in the decentralized finance (DeFi) landscape.
As a lending and borrowing protocol, Seamless has established itself as a leading platform on the layer-2 blockchain, with a total value locked (TVL) of over $10 million. SEAM tokens, distributed via an airdrop to users based on their participation on the Seamless platform, have not been made available through public or private sales.
Previously, Seamless had implemented the "OG Points" program, rewarding liquidity suppliers, borrowers, and staking farmers with points in their on-chain wallets, which have now been converted into tradeable tokens. Seamless Protocol's development is a collaborative effort, with contributions from experts from diverse Web3 backgrounds, including Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth.
The protocol's flagship product, Integrated Liquidity Markets (ILMs), mirrors the structure of specific-purpose loans like car loans or home mortgages, providing better terms but restricting the use of funds to predetermined purposes.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.