Coinbase, a major player in the cryptocurrency exchange market, has taken an important step by listing SEAM, the governance token of the Seamless Protocol. This decision marks a new chapter in the exchange’s offerings, especially since SEAM is a Base-based token, a notable pivot in Coinbase’s strategy.
Seamless integration with Coinbase Prime Day listings
Coinbase has a reputation for its selective Prime Day listings, where tokens are available on the platform the same day as the generation event. Consequently, SEAM has joined this exclusive club alongside recent additions such as Big Time gaming token and Jito’s JTO token. This listing strategy emphasizes Coinbase’s commitment to offering its users new and promising digital assets.
Seamless Protocol operates as a decentralized lending and borrowing platform. Launched as a fork of Aave v3, an Ethereum-based protocol, it is built on Base, an Ethereum Layer 2 network incubated by Coinbase. Additionally, the project stands out for not raising funds through share sales or the SEAM token, highlighting its commitment to a fair launch approach.
SEAM Airdrop: a community-centric approach
The SEAM airdrop begins alongside the token listing. The total token supply is capped at 100 million, of which 69% is allocated to the community. This distribution strategy reinforces the community-centric spirit of the Protocol. However, users eligible for airdrop are early supporters who have participated in various community activities and missions.
Coinbase’s addition of SEAM is more than just a token listing, as it represents a broader shift in the platform’s approach to decentralized finance (DeFi). Additionally, as a native Base-based project, SEAM’s inclusion is a testament to the growing influence of DeFi platforms and their tokens in the broader crypto market.