SEAM Token by Seamless Protocol Debuts on Coinbase as First Base-Blockchain Listing

• Introduction to Seamless Protocol
• SEAM Tokens and Their Origins
• From OG Points to Tradeable Tokens
• Making of the Seamless Protocol
• The Key Product: Integrated Liquidity Markets (ILMs)

Introduction to Seamless Protocol

Seamless Protocol is a thriving project in the Coinbase Base ecosystem that recently issued its governance tokens. These tokens will be tradable on the crypto exchange, with the ticker symbol SEAM, starting from 18:00 UTC on Monday. This lending and borrowing protocol is a top player in the layer-2 blockchain, boasting a total value locked (TVL) of over $10 million.

SEAM Tokens and Their Origins

SEAM tokens are the first Base tokens to be listed on Coinbase. These tokens were airdropped to users based on their activity on the Seamless platform, such as the amounts of funds supplied to and borrowed from different trading pools. There was no public or private sale organized for SEAM tokens.

From OG Points to Tradeable Tokens

Prior to this, Seamless ran an "OG Points" scheme, where numerous liquidity suppliers, borrowers, and staking farmers could earn points in their on-chain wallets. These points have since been converted into tradeable tokens.

Making of the Seamless Protocol

This protocol was designed in collaboration with numerous contributors from a wide array of Web3 backgrounds. Some of these contributors come from notable companies such as Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth.

The Key Product: Integrated Liquidity Markets (ILMs)

The main product of Seamless Protocol is Integrated Liquidity Markets (or ILMs). These embody the principles of specific-purpose loans, similar to car loans or home mortgages. Whilst these loans offer superior terms compared to more general-purpose ones, the funds received can only be used for pre-set purposes. Some examples include borrowing certain tokens or staking.

Edited by Jonathan Stoker