🪙SEAM Tokenomics
Introduction - SEAM & the Seamless Community
Last updated
Introduction - SEAM & the Seamless Community
Last updated
SEAM is the fair launch utility governance token of Seamless Protocol. Seamless is the first decentralized, native lending and borrowing protocol on Base, and has rapidly grown to be one of the Top 3 native apps on Base by total volume locked.
With SEAM, the community continues evolving and decentralizing while pursuing its vision to pave the way for modern DeFi. There have been no public or private sales of SEAM, ensuring the fair launch of this community-governed protocol.
The total supply of SEAM is 100,000,000 tokens. The general breakdown is found below:
Contributors - Core Contributors
8%
Contributors - Community Contributors
3%
Ecosystem Support & Foundation
20%
Community - Incentives
13.5%
Community - DAO - Liquidity Mining & Community Rewards
55.5%
Core Contributors = 8.0%
Core contributors who helped develop the protocol.
Initial 0.4% unlocked, with the remaining following a 36 month vesting schedule with a 12 month cliff, starting from TGE.
Community Contributors = 3.0%
Community contributors, part-time contributors and advisors who contributed to the development of the protocol.
Initial 0.15% unlocked, with the remaining following a 36 month vesting schedule with a 12 month cliff, starting from TGE.
Ecosystem Support & Foundation = 20.0%
Developer grants, ecosystem / partnership grants, community administration / operations.
Initial 6% unlocked for liquidity provisioning, with the remaining following a 24 month unlock schedule from TGE.
Community Incentives = 13.5%
Reserved for community directed incentives such as third party-led marketing, education, community activation campaigns, airdrops and/or grants and/or reward programs for the community.
Initial 0.4% unlocked for community airdrop. Remaining following an 18 month unlock schedule from TGE. Unlocked tokens are emitted upon specific DAO governance action.
DAO - Liquidity Mining & Community Rewards = 55.5%
DAO treasury for liquidity mining platform rewards and other community rewards.
60 month unlock schedule from TGE. Unlocked tokens are emitted upon specific DAO governance action.
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Note: TGE occurred on December 11th, 2023.
SEAM tokens are rewarded to users of the Seamless Protocol (such as liquidity suppliers or borrowers). To get started, follow this Step-by-Step Guide to Supplying and Borrowing.
The DAO - Community Liquidity Mining allocation is available for this particular distribution mechanism, with the weightings, amounts and rates of rewards determined through onchain governance and bound by smart contract logic to follow a five year emission schedule.
SEAM tokens are used for governance of Seamless Protocol and its wider ecosystem of smart contracts and community. SEAM tokens are based on OpenZeppelin’s industry-leading smart contracts, inspired by Compound, and must be delegated in order for the voting power to be enabled.
Community members may use SEAM tokens to propose updates to Seamless Protocol, and if certain thresholds are attained, the smart contract changes are automatically executed by timelock Governor contracts.
For more information on how to delegate and utilize SEAM for governance, reference the docs found in the governance section of the gitbook.
