Seamless Protocol Launches SEAM Token on Coinbase

Key Insights:

• SEAM tokens debut on Coinbase, offering a novel airdrop method and robust backing, marking a significant shift in crypto trading.
• Seamless Protocol’s collaboration with Web3 leaders brings fresh lending and borrowing dynamics to the forefront of the crypto industry.
• Coinbase’s Base network introduces low fees and an open-source structure, enhancing SEAM’s role in the changing landscape of cryptocurrency.

Coinbase, a leading cryptocurrency exchange, has marked a significant milestone by introducing SEAM tokens for trading in the crypto sphere. At 18:00 UTC on Monday, December 11, Seamless Protocol, an integral part of Coinbase’s Base ecosystem, announced the launch of its governance tokens. The crypto community has highly anticipated the debut of SEAM, a pivotal token within the Base network.

Airdrop Strategy: Rewarding User Engagement

Unlike many others in the crypto world, SEAM tokens were not made available through public or private sales. Instead, they were distributed via an airdrop, focusing on rewarding users for their active participation in the Seamless platform. This distribution method was chosen to appreciate users’ contributions to the ecosystem, particularly those involved in funding pools and borrowing transactions. The strategy reflects a growing trend in the crypto industry to foster user engagement and loyalty.

As a leading protocol in lending and borrowing on the layer-2 blockchain, the Seamless Protocol boasts a significant total value locked (TVL) exceeding $10 million. This substantial backing provides a strong foundation for SEAM, enhancing its potential for stability and growth in the competitive crypto market.

Coinbase’s Cautionary Advice to Users

In light of the new launch, Coinbase has advised its users to be cautious when transferring SEAM tokens across different networks. This guidance aims to prevent potential loss of funds, highlighting the importance of security in crypto transactions. Furthermore, Coinbase has made transfer services for SEAM available on its platforms in regions where its trading is supported, ensuring broad accessibility for interested traders.

Coinbase plans to introduce trading on SEAM-USD pairs in phases as the asset supply becomes more substantial. This phased rollout demonstrates Coinbase’s commitment to ensuring a smooth and stable trading experience for its users. However, it’s important to note that SEAM support may be subject to certain restrictions in specific jurisdictions.

Seamless Protocol’s Evolution and Collaborations

The Seamless Protocol has evolved from its initial “OG Points” program. This program previously allowed liquidity suppliers, borrowers, and staking farmers to earn points, which have now been converted into tradable tokens. Developing the Seamless Protocol is a collaborative effort involving contributions from diverse Web3 backgrounds. Notable collaborators include Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth.

A key offering of the Seamless Protocol is its Integrated Liquidity Markets (ILMs). These markets offer specific-purpose loans with favorable terms, limited to predetermined uses such as borrowing specific tokens or staking. This feature distinguishes the protocol within the crypto lending and borrowing landscape.

Coinbase’s Base: A Layer-2 Network

Coinbase’s unveiling of “Base,” an Ethereum layer-2 network, represents a groundbreaking development in the crypto space. As the first publicly traded company to launch such a network, Coinbase sets a new standard for innovation and accessibility in the industry. The base stands out with its open-source, decentralized, and permissionless model and exceptionally low gas fees. 

Through Base, Coinbase spearheads a user-centric approach, aiming to drive mass adoption within the Web3 ecosystem. By enabling developers and entrepreneurs to build on the platform and leveraging Ethereum’s security protocol and Coinbase’s integrated features, Base is poised to be a major player in the crypto world.

The launch of SEAM tokens on Coinbase marks a new era in crypto trading, reflecting the evolving landscape of digital assets. With its user-centric distribution strategy and robust backing, SEAM is set to become a key player in the crypto market. 

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