Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain
Coinbase, the largest cryptocurrency exchange in the US, has announced that it is listing a new altcoin project called Seamless (SEAM) on its proprietary Ethereum layer-2.
What is Seamless?
Seamless is described as the first “native, decentralized, non-custodial lending and borrowing protocol” built on Coinbase’s layer-2 scaling solution called Base. This project aims to provide a safe and cost-effective way for developers to build on-chain.
The Base network is powered by the Optimism development stack and is compatible with Ethereum, Ethereum layer-2s, and alternative EVM chains.
SEAM Governance Token
According to Seamless, SEAM is the governance token of the protocol. Coinbase is listing SEAM as the token is being airdropped.
It’s important to note that SEAM is relatively new and volatile, currently trading at $13.11, down 5.8% from its all-time high of $14.35.
Hot Take: Coinbase Expands DeFi Offering with Seamless Listing
Coinbase continues to expand its decentralized finance (DeFi) offerings by listing Seamless (SEAM), a native lending and borrowing protocol built on the Base blockchain. By adding SEAM to its platform, Coinbase provides users with more opportunities to participate in DeFi activities while leveraging the benefits of layer-2 scaling solutions. The addition of SEAM also highlights Coinbase’s commitment to supporting innovative projects within the crypto ecosystem. As SEAM is relatively new and volatile, investors should exercise caution when trading this asset.
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