Coinbase Lists Base Network Token

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DeFi project Seamless Protocol, which operates on the Base second-layer network backed by Coinbase, has introduced its governance token.

The token, called SEAM, is now available for trading on Coinbase. The Seamless team, which forked the Aave v3 lending platform in September, has announced an airdrop of SEAM for early users and liquidity providers.

Registration for the coin distribution will open on December 12. Coinbase has already launched a trading pair with SEAM/USD.

According to Seamless, this makes it the “first and currently only” token from the Base ecosystem on the exchange.

According to an anonymous member of the Seamless community, Coinbase used its Day One listing process with strict requirements, meaning that the token had to be truly decentralized and not in circulation before being listed on the platform.