Coinbase is adding Seamless Protocol’s new token to its list, the first Base token to be launched on the exchange. SEAM serves as the governance token for the Aave-based DeFi lending platform.
Coinbase adds SEAM to its list
As you follow from Kriptokoin.com, the cryptocurrency market has made a sudden turn. Leading crypto Bitcoin fell below $42,000 with a sharp decline. However, the crypto world continues as usual. Cryptocurrency exchange Coinbase today announced that it has added SEAM, the governance token of Seamless Protocol, a decentralized lending and borrowing protocol on Base. This listing makes SEAM the first Base tier 2 token to be listed on Coinbase. Leading cryptocurrency exchange Coinbase made the following statement regarding the development:
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 and CoinbaseExch in regions where trading is supported.
https://twitter.com/CoinbaseAssets/status/1734256120254902694
Seamless Protocol aims to expand access to decentralized finance (DeFi) by enabling lower collateralized borrowing and focusing on ease of use. Unlike most token distributions, SEAM had a fair launch airdrop that rewarded liquidity providers, borrowers, stakers, and other active ecosystem participants with non-transferable “OG Points” that were memorialized on-chain. It is possible to use these points in the future to customize credit terms and increase eligibility for airdrops.
Seamless Protocol has achieved rapid growth and attracted attention
Being listed on the Coinbase exchange is a very important step for the developing Seamless community. Because, this development provides a highly liquid market for exchanging SEAM, the governance token. It is possible for SEAM holders to participate in on-chain votes to guide the future direction of the protocol. Thus, holders are involved in decisions such as token emissions from the treasury and the addition of new borrowing strategies.
Meanwhile, Seamless Protocol has experienced rapid growth. In the process, it has become one of the top DeFi apps on Base by total value locked (TVL). Its entry into the Coinbase list came immediately after this. Seamless Protocol increased its total value locked (TVL) by nearly 150% last month, according to Defillama data. Thus, the TVL of the protocol reached 7.5 million dollars. Protocol; It was developed in collaboration with participants from leading DeFi projects such as Aave, Uniswap, Coinbase, Maple Finance, CertiK and Ampleforth.
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