After being raised in Discourse as a community led proposal, Seamless is excited to announce a Community Governance Airdrop!

This Community Governance Airdrop is funded by unclaimed SEAM from the Seamless Genesis Airdrop that was not claimed during the 3 month claim window. In total, the size of this airdrop is 39,624.03 SEAM.

6,170 wallets are eligible for this Seamless Community Governance Airdrop. Executed onchain on May 10th, 2024, users do not need to manually claim this airdrop, instead funds have been distributed in esSEAM to eligible users directly, and users can view any airdropped funds in the Seamless App.

For more information regarding the Seamless Community Governance Airdrop, please refer to the original Discourse Post (pasting text below). Here is a link to the Snapshot Vote, which reached quorum amongst community members. Thank you to all who voted and made their voices heard — governance participation is a key pillar of this community!

TL;DR Summary

• The SEAM Genesis Airdrop claim window has ended, so this proposal seeks to take any unclaimed SEAM and redistribute it to governance participants in the form of esSEAM.
• Airdrop is distributed to community members according to factors of strong governance participation, rewarding high voting rates and sizes of delegated SEAM/esSEAM.
• Some Galxe campaigns completed after the Genesis Airdrop were also included in this retroactive airdrop.

Context & Motivation

Governance is crucial for a healthy DAO and DeFi community. Since inception, Seamless has had over 375 active voter participants and thousands more participants who have delegated their SEAM or esSEAM voting power.

It’s still early to establish a detailed delegate program like MakerDAO 25’s. However, as the protocol matures, it’s beneficial to encourage maximum governance participation.

Specifically, the DAO should seek to reward top delegates + voter participants, and those holding esSEAM and SEAM who delegate to active voters.

As such, in the spirit of continuing 🌸 Seamless Spring’s season of rewards, this proposal aims to reclaim the remaining unclaimed SEAM airdrop, convert it into esSEAM and airdrop it to top governance participants.

If this initiative is executed by the community and successful, the DAO may consider future programs or airdrops to continue to encourage growth along the governance vector. Other potential considerations include instituting esSEAM tokenomics (but this is a larger topic for another time).

Specifications/Technicals

Supply: The supply used for the airdrop will be sourced from the unclaimed SEAM of the initial SEAM Genesis airdrop. At the time of this writing, the unclaimed SEAM is approximately 40K SEAM.

Format: The format of the airdrop will be esSEAM to further the theme of both

Seamless Spring Rewards as well as encouraging continued active governance participation. The esSEAM will be pushed to eligible wallets directly without users needing to claim their airdrop.

Snapshot & Eligibility: To ensure no gamification of the parameters, a snapshot was taken ~3 weeks ago before any first informal discussion of this topic. Participants were generally chosen based on their involvement in governance and also some Galxe campaign participation that was not captured by the initial SEAM airdrop.

Weightings: The individual airdrop calculations took into account the onchain and snapshot participation rate of the delegated voters — wallets were rewarded for delegating their SEAM and esSEAM and voters were rewarded for casting votes. The overall weightings and considerations given to each of these various activities are outlined below:

Seamless is excited to announce the long-awaited Genesis Airdrop to participants who have contributed to and utilized the ecosystem!

This blog post aims to provide a high-level overview for airdrop eligibility and how to claim the airdrop.

What is SEAM?

SEAM is the fair launch utility governance token of Seamless Protocol. Seamless is the first decentralized, native lending and borrowing protocol on Base, and has rapidly grown to be one of the largest native apps on Base by total volume locked.

With SEAM, the community continues evolving and decentralizing while pursuing its vision to pave the way for modern DeFi.

Seamless Protocol is the first decentralized, native lending and borrowing protocol on Base. Seamless lays the foundation for Modern 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/X: https://twitter.com/seamlessfi

🏰 Farcaster: https://warpcast.com/seamless

👾 Discord: https://discord.com/invite/Uye9jCVgUp

💬 Telegram: https://t.me/seamless_protocol

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