Coinbase Lists SEAM Token as Airdrop Begins
Crypto exchange Coinbase has added SEAM, the governance token of the Base-based decentralized lending and borrowing platform Seamless Protocol, to its listings. This comes as the airdrop for SEAM begins.
SEAM: First Native Base-Based Token on Coinbase
Seamless Protocol announced that SEAM is the first and only native Base-based project token to be listed on Coinbase. It is also the first governance token with a fair launch airdrop based on user involvement in the ecosystem, documented on-chain through soulbound points and exclusive NFTs.
SEAM Part of Coinbase’s Day-One Listings
SEAM joins Coinbase’s day-one token listings, which go live on the same day as the token generation event. Previously, Coinbase listed Big Time gaming token and Jito’s JTO token, both of which saw significant price increases.
Coinbase Day One Listings Are Exclusive
Seamless Protocol’s community contributor revealed that Coinbase’s day-one listings are highly exclusive. The listing process requires true decentralization and disqualifies protocols that have already released their tokens.
Trading Begins Today
Trading of SEAM will commence at 1 p.m. ET today, according to the contributor.
What is Seamless Protocol?
Seamless Protocol was launched as a fork of Aave v3, an Ethereum-based DeFi lending protocol. It operates on Base, an Ethereum Layer 2 network incubated by Coinbase. The project was founded by contributors and advisors from companies like Coinbase, Uniswap, CertiK, and Seashell.
True Fair Launch of SEAM
Seamless Protocol conducted a true fair launch of the SEAM token, without raising any funds from equity sales. SEAM votes in the timelock governance contract on Base, distinguishing it from other tokens that typically have Base as an extension.
SEAM Airdrop
The total supply of SEAM is 100 million tokens, with 69% allocated to the community. Over 5,000 Seamless users are eligible for the airdrop, and they can claim it for the next three months. The remaining tokens will have a vesting period of over three years.
Hot Take: Coinbase Boosts Adoption of Native Base-Based Tokens
Coinbase’s decision to list SEAM, the first native Base-based token, highlights its commitment to supporting innovative projects in the crypto space. By including day-one listings for tokens like SEAM, Coinbase is driving wider adoption and liquidity for these emerging platforms. This move not only benefits investors but also strengthens the overall ecosystem by providing more opportunities for decentralized finance (DeFi) projects to thrive and grow. As Coinbase continues to add promising tokens to its platform, it solidifies its position as a leading exchange in the crypto industry.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats. Theon’s work serves as a guiding light for both experienced enthusiasts and newcomers, providing well-researched perspectives that empower informed decision-making in the ever-evolving realm of cryptocurrencies.