DeFi lending protocol Seamless announces it will cease operations, with the official interface going offline on June 30.

BlockBeatNews · 2026-04-08T02:36:17+00:00

The lending protocol of the Base ecosystem, Seamless Protocol, announced that it will gradually shut down by June 30, 2026. Users need to withdraw their assets and unstake before this date. The reasons for closure include challenges in the DeFi market, liquidity constraints, and changing market preferences. Although the protocol was functioning normally as designed, it failed to achieve widespread adoption.

BlockBeatNews

2026-04-08 02:36:17

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BlockBeats message, April 8, according to an official announcement, Base ecosystem lending protocol Seamless Protocol has announced that it will gradually stop operations. The Seamless interface will be taken offline on June 30, 2026; users need to withdraw all assets before then, redeem leveraged tokens, and解除 SEAM staking. The vault on Morpho will also be liquidated in an orderly manner, and the remaining DAO vault assets will be allocated to SEAM holders according to governance proposals.

The reasons for the shutdown decision include structural challenges in the DeFi lending market, liquidity constraints for leveraged tokens, and the market’s gradual shift toward actively managed vaults rather than permissionless tokenized products. Although the protocol’s mechanisms operate normally as designed, market conditions have not supported large-scale adoption, and ongoing development lacks a clear path to sustainable revenue.

SEAM-6.13%

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