Decentralized lending protocol Seamless Protocol, built on the Ethereum Layer 2 network Base, announced on Tuesday (12th) the issuance of its governance token SEAM and revealed its airdrop rules. Subsequently, cryptocurrency exchange Coinbase announced the listing of the token, with a trading price of approximately $13 at the time of submission.
SEAM is the first token of a Base ecosystem project to be listed on Coinbase, without any public or private sales. According to Seamless airdrop rules, 33.3% of the token airdrop will be distributed to users who participate in promoting the protocol and community development through social and on-chain activities. The remaining 66.7% will be airdropped to users who have acquired “OG Points.”
Seamless previously launched the “OG Points” program, allowing liquidity providers, borrowers, and stakers who have 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.
Seamless Protocol is developed in collaboration with multiple contributors from different Web3 backgrounds, including Aave, Uniswap, Coinbase, Maple Finance, CertiK, and Ampleforth. The main product of Seamless is the Integrated Liquidity Market (ILM), which reflects the concept of specific-purpose loans such as car loans or mortgage loans that offer better terms than general-purpose loans but can only be used for predetermined purposes, such as borrowing specific tokens or collateralizing.
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