Aave v3 Fork Launches on Base, Coinbase-Supported L2 Network

The Seashell team, in collaboration with a number of DeFi projects, launched on layer-2 network Base a fork of the lending platform Aave v3 named Seamless Protocol.

Very excited to announce a collaborative partnership with @SeamlessFi ??

Seamless is a decentralized, non-custodial liquidity market that is launching on @BuildOnBase

Can’t wait to see where this goes! Learn more about the partnership announcement ? https://t.co/Id9eVmDohs

— Seashell ? (? seashell.com Arbitrum Vaults) (@getSeashell) August 29, 2023

RNG Labs, STIG and Loreum Labs participated in the collaboration, as did staff from Ampleforth and Uniswap.

According to a statement, Seamless Protocol will serve as a decentralised liquidity market on Base. The protocol is a full fork of Aave v3 with similar smart contracts.

In comments to Cointelegraph, project representatives said that, first and foremost, this concerns the ability to borrow with partial collateral.

Seamless Protocol uses smart contracts with predefined strategies. This approach allows liquidity providers to have full visibility into how funds are used.

In the team’s view, their smart-contract system is better suited for DeFi than on-chain reputation scoring solutions or identity via Worldcoin.

As of writing, the total value locked in Seamless Protocol amounts to $276,419. The leading project on Base by this metric is the decentralised exchange Aerodrome with $139m.

As reported, the full launch of the mainnet of Coinbase’s Layer-2 solution took place on August 9.