Seamless Protocol is the first native, decentralized, non-custodial lending and borrowing protocol on the Base network. In the first month of being live, it has grown to be the largest native liquidity market, enabling users to supply and borrow USDbC, ETH, and cbETH (with more assets underway).
Seamless enables users to engage in a new form of peer-to-peer borrowing/lending—Integrated Liquidity Markets (or ILMs, for short)—which are isolated, smart contract-to-smart contract markets for undercollateralized, yet still permissionless, borrowing.
Seamless Protocol is a community-governed initiative and no funds were raised.
According to TechFlow on May 21, Cointelegraph reported that Hester Peirce, Commissioner of the U.S. Securities and Exchange Commission (SEC), stated that most non-fungible tokens (NFTs), including those with creator royalty mechanisms, are likely not subject to federal securities laws.
Peirce pointed out that NFTs allowing artists to receive resale proceeds are not automatically classified as securities. She compared this model to the compensation mechanisms streaming platforms use for musicians and filmmakers. Oscar Franklin Tan, Chief Legal Officer of Atlas Development Services, a core contributor to Enjin, stated that U.S. securities laws focus mainly on investment regulation rather than creator compensation. The royalties creators receive are akin to commercial income rather than investment income, and the SEC has never prohibited artists from obtaining royalties from secondary sales of their works through blockchain protocols.
Seamless Protocol is the first native, decentralized, non-custodial lending and borrowing protocol on the Base network. In the first month of being live, it has grown to be the largest native liquidity market, enabling users to supply and borrow USDbC, ETH, and cbETH (with more assets underway).
Seamless enables users to engage in a new form of peer-to-peer borrowing/lending—Integrated Liquidity Markets (or ILMs, for short)—which are isolated, smart contract-to-smart contract markets for undercollateralized, yet still permissionless, borrowing.
Seamless Protocol is a community-governed initiative and no funds were raised.