🧵Introduction to Seamless Protocol

Seamless Protocol is the first decentralized, native lending and borrowing protocol on Base. Seamless lays the foundation for Modern DeFi, focusing on automated leverage strategies and a better user experience to inspire the masses.

Since launching, Seamless Protocol has grown to be the largest native liquidity market (Top 10 TVL on Base, according to DefiLlama), enabling users to supply and borrow their favorite Base assets: USDC, ETH, wstETH, AERO, SEAM, and BRETT (with more assets underway).

Seamless has developed a novel DeFi primitive, Integrated Liquidity Markets (ILMs), which are vault strategies that run on auto-pilot. ILMs make it easy for users to obtain leverage by simply depositing a base asset. Behind the scenes, ILMs abstract away time consuming transactions and automatically rebalance themselves, offering a leveraged product without the hassel of liquidations.

Seamless Protocol is a decentralized community-governed initiative and no funds were raised.

Types of Users

• Liquidity Suppliers may earn fees for providing liquidity to be borrowed.

• Liquidity Borrowers seek to borrow from the liquidity pools and are required to pay fees, as well as lock collateral, in order to be eligible to borrow.

Using Battle-Tested Smart Contracts

Seamless Protocol is a fork of the leading overcollateralized liquidity protocol, Aave v3, without making changes to the smart contract code (see verified diffs).

Staking Farm contracts are forked from the Ampleforth Geyser v2 contracts, which has securely managed $250m+ in total assets and distributed tens of millions in rewards over 3 years. These smart contracts were not altered from their original form either (see verified diffs).