Seamless Protocol, a decentralized lending protocol built on the Ethereum Layer 2 network Base, announced on Tuesday the issuance of its governance token SEAM and released its airdrop rules. Subsequently, the cryptocurrency exchange Coinbase announced the listing of the token, with the SEAM trading price at around $13 at the time of writing.
SEAM is the token of the first Base ecosystem project listed on Coinbase, without any public or private sale. According to the Seamless airdrop rules, 33.3% of the token airdrop will be distributed to users participating in social and on-chain activities that promote the protocol and community development. The remaining 66.7% will be airdropped to users who have acquired “OG Points”.
Seamless had previously implemented the “OG Points” program, allowing liquidity providers, borrowers, and stakers who had interacted with the protocol to earn points. Now, Seamless allows these early supporters to convert their points into tradable tokens. The SEAM token claim page will be open for 3 months.
It is reported that Seamless Protocol was developed through collaboration with multiple contributors from different Web3 backgrounds, including Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth. Seamless’s main product is the Integrated Liquidity Market (ILM), which reflects the concept of purpose-specific loans such as auto loans or home mortgages. These loans offer better terms than general-purpose loans but the funds can only be used for the designated purpose, such as borrowing specific tokens or staking.
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