SEAM Soars: Coinbase Debut & Airdrop Extravaganza

Coinbase's recent and exciting announcement heralds the addition of SEAM, the governance token intricately linked to Seamless Protocol, a decentralized lending and borrowing platform that operates with finesse on the Base Layer 2 blockchain.

This notable inclusion signifies not just a step, but a stride forward, with SEAM now proudly standing as the inaugural token from Base 

Layer 2 to grace the illustrious listings of Coinbase

Simultaneously, the ever-ambitious Seamless Protocol has generously unveiled expansive plans for a grandiose airdrop, promising to shower 400,000 SEAM tokens upon eligible recipients within the forthcoming three-month period.

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 & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets ????️???? (@CoinbaseAssets) December 11, 2023

Diverging from the well-trodden paths of conventional token distribution, SEAM ingeniously executed a fair launch airdrop, bestowing its benevolence upon a diverse array of ecosystem contributors. This inclusive strategy showered rewards upon liquidity providers, borrowers, stakers, and a host of other vibrantly engaged participants. The pièce de résistance of this unique approach? Non-transferable "OG Points," eternally enshrined on the blockchain, allowing recipients to metamorphose them into a bespoke key, unlocking personalized loan terms and enhancing their eligibility for future airdrop bounties.

With a total supply of 100 million, the SEAM token strategically allocates a generous 69% to the community. The remaining supply gracefully dances into the arms of ecosystem support and foundation (20%), core contributors (8%), and community contributors (3%).

A SEAM airdrop spectacle unfolds, captivating over 5,000 Seamless users – a cherished cohort deemed early patrons of the protocol. Having traversed quests, navigating the digital landscapes of platforms like Galxe, these intrepid participants now stand poised to receive their due rewards.

Coinbase's grand gesture in listing SEAM extends beyond the creation of a mere market; it ushers in a highly liquid arena for the exchange of Seamless governance tokens. As if that were not enough, SEAM holders find themselves elevated to the role of active participants, wielding influence through on-chain votes. Their voices resonate in the corridors of protocol decisions, shaping the trajectory of token emissions and welcoming new strategies into the borrowing fold.

SEAM Experiences a Remarkable 150% Increase in Total Value Secured

In a syncopated dance with the cosmic rhythm of progress, SEAM's listing on Coinbase follows the meteoric ascent of Seamless Protocol. The protocol emerges as a luminary within the decentralized finance (DeFi) constellation, flaunting its supremacy in total value locked (TVL) on the Base Layer 2 blockchain. Defillama's oracle reveals a staggering surge of nearly 150% in the protocol's TVL over the past lunar cycle, gracefully ascending to the celestial realm of $7.5 million.

The harmonious symphony of Seamless Protocol results from a collaborative overture conducted by contributors boasting diverse Web3 pedigrees. This ensemble comprises virtuosos from Aave, Uniswap, Coinbase, Maple Finance, CertiK, and the resonant echoes of Ampleforth.

At the heart of the protocol lies its magnum opus – Integrated Liquidity Markets (ILMs). These markets elegantly mirror the principles of loans for specific purposes, akin to the poetry of car or home mortgages. In this dance of financial choreography, ILMs extend more favorable terms than their general-purpose counterparts. However, they demand adherence to a poetic condition – funds must pirouette with purpose, be it borrowing specific tokens or elegantly staking in the DeFi ballroom. This innovative choreography, an ode to financial ballet, propels Seamless Protocol to its rapid zenith within the DeFi tapestry on the Base Layer 2 blockchain.

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