Crypto trade Coinbase has listed SEAM, the governance token of the Seamless Protocol on the same day as its airdrop match to early customers.

The Seamless Protocol is a decentralized lending and borrowing protocol built on Coinbase’s Layer 2 network Faulty, born from a fork of Aave v3 in September. The protocol’s founders had beforehand contributed to popular crypto platforms, at the side of decentralized trade Uniswap and blockchain security firm CertiK.

Shopping and selling went stay on Monday at 1 pm ET in phases after ample liquidity stipulations contain been met, and the token is currently trading at round $13, after rising as great as 250% since the itemizing.

Early supporters of the Seamless Protocol contain been incorporated within the Genesis airdrop, no topic whether or not they feeble the vault, contributed to social or earned “OG aspects” of their on-chain wallets by taking part in staking, lending or borrowing activities on the platform. The Genesis airdrop will search 400,000 SEAM tokens allotted to customers.

Inside 12 hours of Coinbase’s itemizing announcement, the Whole Price Locked (TVL) within the Seamless Protocol surged from round $10 million to over $54 million.

The protocol is now the top lending and borrowing platform on the Faulty network. SEAM is the foremost and top Faulty native token to be listed on Coinbase.