Key Takeaways
- Seamless introduces Leverage Tokens, converting complex DeFi strategies into tradable ERC-20 assets with automated rebalancing.
- The protocol supports over 250,000 wallets and has more than $100 million in total value locked.
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Seamless Protocol launched Leverage Tokens on Base today, introducing automated DeFi strategies packaged as ERC-20 assets that combine collateral, lending, swaps, and rebalancing functions into a single token.
The protocol, which debuted in 2023 as Base’s first native lending and borrowing platform, currently supports over 250,000 wallets and maintains more than $100 million in total value locked (TVL). In early 2025, Seamless transitioned to Morpho’s permissionless lending infrastructure.
The new Leverage Tokens build upon the protocol’s Integrated Liquidity Markets (ILMs), which launched in 2024 and attracted over 6,500 users.
At launch, the first Leverage Token debuting on Seamless is a 17x yield loop built on Ether Fi’s weETH/ETH staking pair. By simply holding the token, users gain exposure to amplified ETH staking rewards while earning ecosystem points from Ether Fi and Eigenlayer.
There’s no need to manage the underlying loop, no borrowing, swapping, or manual rebalancing. The entire strategy is embedded in the token’s logic and maintained on-chain by Seamless’s leverage engine.
The tokens utilize a modular system comprising Collateral Adapters, Lending Adapters, and Rebalance Adapters to manage assets, connect to capital sources, and automate leverage adjustments. As standard ERC-20 tokens, they can be traded, used as collateral, or integrated with other DeFi protocols on Base.
Seamless plans to expand its token offerings to include long and short blue chip exposure, delta-neutral yield farming, meme coin loops, and meta-strategies combining multiple primitives. The protocol will also implement a DAO-governed fee switch that directs token revenue to stkSEAM holders.
In traditional markets, leveraged ETFs hit $130 billion in assets under management by mid-2023. Seamless sees Leverage Tokens as a decentralized evolution of that model, but without the institutional gatekeeping, opaque risk, or limited integrations.
Disclosure: Some investors in Crypto Briefing are also investors in Seamless Protocol.
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