Is there a new player in the DeFi altcoin scene making its way to Coinbase, the leading cryptocurrency exchange in the United States? The answer is a resounding yes. Coinbase has recently revealed that it will be listing Seamless (SEAM), a novel altcoin project developed on its proprietary Ethereum (ETH) layer-2.
A Glimpse into Seamless (SEAM)
As per the official announcement made via the Coinbase Assets account on a popular social media platform, Coinbase lists new DeFi altcoin, Seamless (SEAM). The Seamless website describes the project as the first “native, decentralized, non-custodial lending and borrowing protocol” constructed on the Coinbase-supported layer-2 scaling solution, Base.
Base, a project incubated by Coinbase, is engineered to provide a secure, cost-effective, and developer-friendly platform for on-chain construction. The layer-2 network leverages the Optimism (OP) development stack and is compatible with Ethereum, Ethereum layer-2s, and alternative EVM chains.
Introducing SEAM
According to Seamless, SEAM serves as the protocol’s new governance token. In their words, “SeamlessFi is thrilled to present SEAM, the governance token of Seamless, which is Base’s largest native lending protocol!”
The reason behind Coinbase’s decision to list SEAM is the ongoing airdrop of this new governance token. At the time of writing, SEAM is less than a day old, and its relative volatility has led Coinbase to list the asset under its Experimental Label.
SEAM’s Market Performance
Currently, SEAM is valued at $13.11, a 5.8% drop from its all-time high of $14.35, achieved just a few hours ago. This demonstrates the inherent volatility of new cryptocurrencies, which can be both a risk and an opportunity for investors.
For those who wish to keep a close eye on the performance of SEAM or any other cryptocurrency, the cryptoview.io application is a handy tool. It provides real-time updates and comprehensive data analysis, making it easier for users to make informed decisions.
Remember, investing in any cryptocurrency, including new ones like SEAM, involves risk. Always conduct thorough research and exercise caution when making investment decisions.
