Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Seamless Protocol launches altcoin-specific DeFi lending market on Base

Seamless Protocol launches altcoin-specific DeFi lending market on Base

The BlockThe Block2024/04/22 17:13
By:The Block

The DeFi lender Seamless Protocol launched an altcoin-specific lending market on Coinbase’s Layer 2 network Base. The Base-based altcoins DEGEN and SEAM are the first two tokens supported on the platform.

Seamless Protocol launches altcoin-specific DeFi lending market on Base image 0The DeFi lending protocol Seamless has launched an altcoin lending market on Base, a Layer 2 developed by the crypto exchange Coinbase.

The first two tokens to enter the altcoin lending platform are DEGEN, of Degen Chain and rewarded to effective Farcaster users, and SEAM, the native token of the Seamless Protocol and the first Based -based token listed on Coinbase, according to a release shared with The Block.

The Seamless protocol is a decentralized finance platform built on Base, and it's also a fork of the decentralized liquidity protocol Aave v3. The new altcoin lending platform creates a supply market for DEGEN and SEAM and lets their holders earn platform rewards.

"A massive accelerant to Base’s recent growth has been the rise of altcoin and meme communities," Seamless Protocol core contributors told The Block. "These projects and community members are looking for more token utility, and by offering altcoin lending on Seamless, the idea is that over time these holders can continue holding while borrowing other DeFi assets such as stablecoins or ETH."

"Idle capital that is locked up in the form of tokens can be viewed as capitally inefficient if there is no utility or application available, but by providing borrowing capabilities, this idle capital can be put to work. Through thorough risk analysis with partners, Seamless is excited to be the first protocol to offer this service on Base," the contributors added.

Coinbase listed Seamless Protocol's native token SEAM in December 2023. The token traded hands at $7.01 at 3:43 p.m. ET on April 18 and saw a 1.34% 24-hour increase, according to CoinMarketCap.

DEGEN was valued at $0.33 at 12:46 p.m. ET on April 19 with a market capitalization of $465.6 million, CoinMarketCap also shows. DEGEN is an ERC-20 token native to the Layer 3 network Degen Chain , which rewards users with DEGEN for posting high quality content on Farcaster , a web3 social media platform.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

XRP ETF Went Live Automatically, Not Approved, Analyst Explains

Quick Take Summary is AI generated, newsroom reviewed. The Teucrium XXRP ETF launched automatically under the Investment Company Act of 1940 when a regulatory deadline expired. The fund provides 2x leveraged exposure to XRP's daily price movements via swaps and is not intended for long−term holding. The automatic launch, which bypassed direct SEC approval, highlights an unusual for futures−based ETFs. The ETF's launch signals strong in leveraged XRP, despite heightened risks.References ETF approvals aren’t

coinfomania2025/10/05 00:21

Ethereum Fusaka Upgrade: $135B Growth Shows Maturity

Quick Take Summary is AI generated, newsroom reviewed. Ethereum’s total assets reached $135 billion, driven by institutional staking. Non-staking holders face dilution risks as more ETH gets locked. December’s Fusaka upgrade will expand blob capacity and cut Layer-2 costs. Probabilistic sampling will improve node efficiency and strengthen the network.References VanEck's September report noted that DAT has grown to about $135 billion, with institutions accumulating and staking ETH, creating dilution risk fo

coinfomania2025/10/05 00:12

Bitcoin ETFs Draw $2.2B Amidst Price Surge

Theccpress2025/10/04 23:12