Coinbase to List SEAM: Seamless Protocol’s Governance Token Makes History

• Coinbase lists SEAM, a DeFi token, showing its commitment to offering fresh digital assets and embracing the DeFi movement.

• SEAM’s airdrop coincides with its Coinbase listing, with most tokens allocated to the community.

Coinbase, one of the leading players in the cryptocurrency exchange market, has recently announced listing SEAM, the governance token of Seamless Protocol. This decision marks a pivotal moment in Coinbase’s strategy and highlights its commitment to embracing the evolving landscape of decentralized finance (DeFi).

Coinbase will add support for Seamless (SEAM) on the Base network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️📞 (@CoinbaseAssets) December 11, 2023

Coinbase is renowned for its selective day-one listings, where tokens become available on the platform on the same day as their generation event. SEAM has now earned a coveted spot in this exclusive club, alongside recent additions like the gaming token Big Time and Jito’s JTO token. This listing strategy underscores Coinbase’s dedication to providing its users access to promising and fresh digital assets.

Seamless Protocol operates as a decentralized lending and borrowing platform. What sets it apart is its origin as a fork on Aave v3, an Ethereum-based protocol. Furthermore, Coinbase incubated Base, an Ethereum Layer 2 network, to build Seamless Protocol. Notably, the project has taken a unique approach by refraining from raising funds through equity sales or the SEAM token, aligning with the principles of a fair launch.

SEAM Airdrop

Coinbase’s decision to list SEAM comes with an exciting community-centric approach. The SEAM airdrop aligns with the token’s listing and actively involves the community. Notably, the community receives a significant allocation of 69% of 100 million SEAM tokens. It’s important to highlight that only early supporters actively participating in various community activities and quests are eligible for the airdrop.

Beyond being just another token listing, Coinbase’s addition of SEAM signifies a more extensive shift in the platform’s approach to DeFi. This move demonstrates Coinbase’s recognition of the growing influence and significance of DeFi platforms and their associated tokens in the broader crypto market.

Unveiling Seamless Protocol’s Evolution

Seamless Protocol has undergone a notable transformation, transitioning from its “OG Points” program. Initially, this program permitted liquidity suppliers, borrowers, and staking farmers to earn points, which they have now converted into tradable tokens. The development of Seamless Protocol involved collaboration among contributors with diverse Web3 backgrounds, including prominent names like Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth.

One of the primary offerings of Seamless Protocol is Integrated Liquidity Markets (ILMs). These markets offer specific-purpose loans with favorable terms but are limited to predetermined uses like borrowing specific tokens or staking. This focus on tailored lending solutions contributes to the protocol’s uniqueness in the DeFi landscape.

Coinbase’s Innovation: The Launch of “Base”

Coinbase has made headlines with the launch of “Base,” an Ethereum Layer 2 network. This launch is significant because it marks the first instance of a publicly traded company introducing such a network. Base stands out for its open-source, decentralized, and permissionless model, offering exceptionally low gas fees.

Coinbase’s strategy for Base is highly user-centric. It aims to foster mass adoption within the Web3 ecosystem by encouraging developers and entrepreneurs to build on the platform. Leveraging Ethereum’s security protocol and integrating Coinbase’s features, including fiat payment integration, Base is a notable development in crypto.