Coinbase Lists SEAM Token from Seamless Protocol
Coinbase has made an announcement regarding the listing of SEAM, the governance token of Seamless Protocol. This decentralized lending and borrowing platform operates on Base Layer 2 blockchain. This listing is significant because it makes SEAM the first Base Layer 2 token to be featured on Coinbase.
Plans for Airdrop and On-Chain Voting
Alongside the Coinbase listing, Seamless Protocol has revealed its plans for an airdrop of 400,000 SEAM tokens. Eligible recipients can expect to receive their tokens within three months. The Coinbase listing provides a highly liquid market for SEAM holders to exchange governance tokens and actively participate in on-chain votes that influence the protocol’s future direction.
Rapid Growth and Total Value Locked
The listing of SEAM on Coinbase follows the rapid growth of Seamless Protocol, positioning it as one of the leading decentralized finance (DeFi) applications on Base by total value locked (TVL). Over the past month, the protocol has experienced a surge of nearly 150% in its TVL, reaching $7.5 million according to Defillama data.
An Innovative Approach to Integrated Liquidity Markets
Seamless Protocol offers Integrated Liquidity Markets (ILMs), which function similarly to specific-purpose loans like car or home mortgages. These ILMs provide more favorable terms but require funds to be used for predetermined purposes such as borrowing specific tokens or staking. This unique approach has contributed to the protocol’s rapid rise in the DeFi space on the Base Layer 2 blockchain.
Hot Take: Coinbase Listing Boosts SEAM’s Potential
The listing of SEAM on Coinbase is a significant milestone for Seamless Protocol and its community. It provides SEAM holders with a highly liquid market and the opportunity to actively participate in on-chain governance. With the rapid growth of the protocol and its innovative approach to liquidity markets, SEAM’s potential for further success in the DeFi space is greatly enhanced.
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