Introducing: Seamless Protocol 🧵
Next-Generation Liquidity Markets on Base
Seamless Protocol is a decentralized, non-custodial liquidity market that creates a more seamless experience for both sides of the market — for the Liquidity Suppliers and the Liquidity Borrowers. Seamless Protocol aims to unlock undercollateralized borrowing through the innovative concept of Integrated Liquidity Markets. The community-driven protocol inherits the security of the audited smart contracts forked from AAVE and Ampleforth, which have collectively managed billions of dollars in assets.
The fabric of DeFi has been created by a patchwork of innovation, where concepts like decentralized exchanges, liquidity mining, and permissionless borrowing have blazed the trail for additional breakthroughs. Seamless Protocol is formed by interweaving the threads of the latest and greatest technologies in DeFi.
Dive in and learn about Seamless Protocol and its governing community of SEAM token holders who aim to further push the boundaries of web3.
🧵 The Seamless Protocol Difference — Integrated Liquidity Markets
The word “Integrated” refers to the fact that Liquidity Suppliers are providing liquidity to authorized Borrowing Strategy smart contracts, not to Borrowers directly. Because the code of smart contracts can be immutable, transparent and verified on-chain, the Liquidity Supplier smart contracts have the advantage of knowing exactly what the funds will be used for. This is in contrast to liquidity that is borrowed through Aave or Compound, which require overcollateralization in return for full trustlessness. With Integrated Liquidity Markets, Borrowing Strategies are substantially more capital efficient because they can conduct undercollateralized borrowing. Initially, the purpose of borrowing can be confined to amplifying growth strategies, such as LST or LP looping strategies, to allow for more simplicity and predictability of the Borrowing Strategies.
Although Borrowing Strategies are able to engage in undercollateralized borrowing (e.g. adding $100 of cbETH to get a $300 cbETH position), the Liquidity Supplier smart contracts maintain full control of all assets, thereby making it an overcollateralized position from the Liquidity Supplier’s vantage point (e.g. the Liquidity Supplier smart contracts are holding $300 worth of cbETH, against a $200 supplied liquidity position).
This synergistic interplay in Integrated Liquidity Markets opens a whole new frontier of composable borrowing strategies for leveraged positions, and more.
🤝 Leveraging the Latest and Greatest in DeFi
Seamless Protocol’s smart contracts on Base were forked from two DeFi pioneers, AAVE and Ampleforth. Both sets of smart contracts (AAVE v3 and Geyser v2) have been audited and battle-tested over multiple years.
The original smart contract code was preserved, as verified by the identical checksum hashes. Seamless Protocol inherits the audited security of two early trailblazers of DeFi.
Seamless Protocol will use this foundational platform of AAVE x Geyser to introduce the more experimental Integrated Liquidity Markets. These will be rolled out over time by the community in the form of community-driven proposals and initiatives, with an eye towards full composability.
🎯 A Central Mission by a Decentralized Community
With ambitions across the various landscapes of DeFi, Seamless Protocol was formed through a collaborative, community-driven approach. The Seamless Protocol DAO and associated delegated community members will enact the governance proposals of SEAM governance token holders that pass voting thresholds.
The ever-growing list of contributors come from a variety of different communities, ranging from DeFi blue chips to NFT projects. Example contributors include Seashell, RNG Labs, STIG, and Loreum Labs, with individual advisors and collaborators with backgrounds from various corners of the DeFi ecosystem such as Ampleforth, Uniswap and more.
Collectively, the core contributors’ experiences come from Coinbase, Google, Uniswap, Robinhood, CertiK, Maple Finance, Ampleforth, GameStop and more. These contributors were inspired to come together to evolve the user experience of web3 and improve the capital efficiency of DeFi.
✨ A New DeFi Primitive
Seamless Protocol hopes to inspire the next-generation of capital efficiency with infinitely composable primitives that can be used by other protocols. Integrated Liquidity Markets address the fundamental issue of capital inefficiency, ushering the way for a more efficient, user-friendly, and resilient DeFi ecosystem.
Join the movement at https://t.me/Seamless_Protocol
Seamless Protocol is the first decentralized, native lending and borrowing protocol on Base. Seamless lays the foundation for the next generation of DeFi, focusing on lower-collateral borrowing and a better user experience to inspire the masses.
Join the community and get plugged in via the following links:
🧑💻 Website: https://seamlessprotocol.com
📱 App: https://app.seamlessprotocol.com
🐦 Twitter: https://twitter.com/seamlessfi
👾 Discord: https://discord.com/invite/Uye9jCVgUp
💬 Telegram: https://t.me/seamless_protocol
