❗SEAM Token

Important legal disclaimers about SEAM

The native cryptographically-secure fungible protocol token of Seamless (ticker symbol SEAM) is a transferable representation of attributed governance and utility functions specified in the protocol/code of Seamless, and which is designed to be used solely as an interoperable utility token thereon.

SEAM provides the economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on Seamless, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. SEAM is an integral and indispensable part of Seamless, because without SEAM, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Seamless. Given that additional SEAM will be awarded to a user based only on its actual usage, activity and efforts made on Seamless and/or proportionate to the frequency and volume of transactions, users of Seamless and/or holders of SEAM which did not actively participate will not receive any SEAM incentives.

SEAM does not in any way represent any shareholding, ownership, participation, right, title, or interest in the Foundation, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will SEAM entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Panama, Singapore or any relevant jurisdiction. SEAM may only be utilized on Seamless, and ownership of the same carries no rights, express or implied, other than the right to use SEAM as a means to enable usage of and interaction within Seamless. The secondary market pricing of SEAM is not dependent on the effort of the Seamless Project Contributors, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.

More details of SEAM token governance utility are found in the Governance section. SEAM token may be earned by users which utilize the protocol and/or performing behaviors that push the community and protocol forward, with such emissions or reward programs controlled by governance.

Seamless itself is simply a set of deployed smart contracts which does not offer any resources for utilization. As such, to ensure that the protocol is able to perform its core function of a peer-to-peer lending/borrowing market, as well as to decentralize SEAM ownership and community governance, users would need to be incentivized to become liquidity providers and stake their digital asset pairs (e.g. USDC/SEAM) into the decentralized liquidity pools to provide the necessary liquidity for transactions. As compensation for opportunity costs, these liquidity providers which help to promote adoption of Seamless by including assets to liquidity pools in exchange for LP tokens would be rewarded with SEAM (i.e. "mining" on Seamless), according to each user's relative contribution after various adjustment and correction parameters. By distributing SEAM in this manner, it ensures that the governance token will be distributed primarily to key network contributors and allow them to have a say in protocol parameters.