Coinbase Lists SEAM Token as Airdrop and Liquidity Mining Program Begin

Seamless Protocol's SEAM is the first token issued on the Base network to be listed on Coinbase, the largest crypto exchange in the U.S. by volume.

SEAM was trading at around $7 in the three hours after its launch, according to DexGuru.

The total supply of the SEAM token is 100 million, according to The Block, quoting a Seamless community member, who added that "69% of that would go to the community, with the rest to ecosystem support and foundation (20%), core contributors (8%) and community contributors (3%)."

SEAM has secured a coveted day-one listing, where tokens become available for trading on the same day as their generation event.

SEAM Airdrop

Seamless, a lending protocol, is also initiating an airdrop for early supporters. The airdrop claim went live Monday at claim.seamlessprotocol.com and will be accessible for three months.

Over 5,000 Seamless users are eligible for the SEAM airdrop, the snapshot for which was taken on Dec. 8, The Block reported.

Simultaneously, the lending platform is launching a liquidity mining program, the project said on X. Users can earn SEAM tokens by interacting with active supply/borrow markets on the protocol.

Seamless, a fork of Aave V3, is currently the seventh largest protocol on Base with $12 million of total value locked, according to DeFi Llama. Base is an Ethereum Layer 2 scaling network built by Coinbase.

Seamless hasn't raised funds either from equity sales or from the SEAM token, which is why they're calling its token distribution a "fair launch," according to The Block.