Seamless Protocol is a DeFi platform that has made its mark as the first non-custodial lending and borrowing protocol on the Base network. The platform's governance is driven by the community, and it has a fair launch, which makes it unique in the DeFi landscape. Seamless is dedicated to a truly community-centric approach, which is evident in its commitment to no public or private sales of its SEAM token. Within just one month of its launch, Seamless became one of the largest native liquidity markets on the Base network. DefiLlama ranks it in the top 20 Total Value Locked (TVL) category.
Seamless Protocol's Integrated Liquidity Markets (ILMs) are at the core of its functionality, and it's a novel concept in DeFi supply and borrow markets. These ILMs establish a symbiotic relationship between Integrated Liquidity Suppliers (ISs) and Integrated Borrowing Strategies (IBs). ISs, also known as pools or community pools, are crucial in providing liquidity, which is then utilized by IBs (vaults or integrated borrowers) to execute specific DeFi strategies. These strategies are securely embedded in smart contract code, ensuring trustless and tamper-proof execution.
The innovation of ILMs lies in the controlled provision of liquidity by ISs to authorized IBs. This model allows for undercollateralized lending and introduces precise strategies like Liquidity Sourcing Tokens (LST) and Liquidity Provider (LP) strategies. The framework is transparent, on-chain, and encourages greater capital efficiency, which marks a significant departure from traditional overcollateralized lending protocols.
Seamless Protocol also has liquidity mining farms based on Ampleforth's Geyser v2 contracts. Users can add liquidity supply to the pool, receive LP tokens in return, and stake these tokens in available Staking Farms to earn OG Points. This mechanism further enhances the protocol's appeal by rewarding active participation and liquidity provision.
SEAM has a total supply of 100,000,000. The current circulating supply of SEAM is 14,770,000.
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