Coinbase has announced the listing of SEAM, the governance token of Seamless Protocol, on its platform. This makes SEAM the first Base Layer 2 token to be listed on Coinbase. Seamless Protocol is a decentralized lending and borrowing protocol that aims to expand access to decentralized finance (DeFi) by offering lower-collateral 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 are recorded on-chain. These points can be used in the future to customize loan terms and increase eligibility for airdrops.

The listing of SEAM on Coinbase provides the Seamless community with a highly liquid market to exchange the governance token. SEAM holders can participate in on-chain votes to influence the future direction of the protocol, including decisions regarding token emissions from the treasury and the addition of new borrowing strategies.

Seamless Protocol has experienced significant growth and is now one of the top DeFi apps on Base in terms of total value locked (TVL). Over the past month, its TVL has surged by nearly 150%, reaching $7.5 million based on Defillama data.

The protocol was developed through a collaboration of contributors from prominent DeFi projects such as Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	very positive
Relevance Score	1
People	None
Companies	Uniswap, Aave, CertiK, Maple Finance, Coinbase
Currencies	Samsunspor Fan Token
Securities	None