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๐ฅDeFi lending protocol Seamless announces it will cease operations, with the official interface going offline on June 30, 2026.
On April 8, the Base ecosystem lending protocol Seamless Protocol announced it will gradually cease operations. The Seamless interface will be taken offline on June 30, 2026. Users are required to withdraw all assets, redeem leveraged tokens, and unstake SEAM before this date. Vaults on Morpho will also be liquidated in an orderly manner, and remaining DAO vault assets will be distributed to SEAM holders according to governance proposals. The reasons for the shutdown include structural challenges in the DeFi lending market, liquidity limitations of leveraged tokens, and the market's gradual shift toward actively managed vaults rather than permissionless tokenized products. Although the protocol mechanism is functioning as designed, market conditions have not supported large-scale adoption, and ongoingโฆ