Seamless Protocol

Seamless vault fees on Morpho are directed to stakers (stkSEAM holders). Currently, the assets included in protocol fee capture are smcbBTC, smETH and smUSDC, this list may change overtime. Stakers accrue any SEAM or esSEAM rewards DAO governance votes to emit to stakers.

All SEAM holders can participate in governance so long as they have delegated their SEAM. Users can either self-delegate or delegate their vote to another address.

Seamless is a multichain protocol using Leverage Tokens (LTs) wrap looping, yield farming, leveraged positions simple ERC-20 tokens. The governance token (SEAM), esSEAM, staking module (stkSEAM), and onchain governance operate on Base. esSEAM is an escrowed version of SEAM that linearly unlocks over 12 months.

Track SEAM price, market cap, circulating supply, max supply, trading volume, and token rights.

	Q3 2026*	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024
Gross Protocol Revenue	$410.04	$6.02K	$242.63K	$715.19K	$1.02M	$606.56K	$783.12K	$820.54K	$41.57K
Borrow Interest	$398.11	$536.66	$603	$2.48K	$27.82K	$45.29K	$443.11K	$816.7K	$41.12K
Liquidation Fees	$8.51	$119.91	$84	$344	$4.23K	$5.81K	$79.23K	$3.84K	$453
Morpho Yields	$4.77	$5.19K	$241.83K	$712.18K	$990.8K	$555.45K	$260.79K	$0	$0
Mint/Redeem Fees	$0	$174.96	$113	$192	$0	$0	$0	$0	$0
Cost of Revenue	$367.31	$5.02K	$206.17K	$607.92K	$871.36K	$518.22K	$697.01K	$760.29K	$39.05K
Borrow Interest	$354.04	$478.3	$538	$2.23K	$24.95K	$40.38K	$396.83K	$756.53K	$38.6K
Liquidation Fees	$8.51	$119.75	$81	$342	$4.23K	$5.7K	$78.5K	$3.75K	$453
Morpho Yields Distributed To Supliers	$4.12	$4.41K	$205.55K	$605.35K	$842.18K	$472.13K	$221.67K	$0	$0
Gross Profit	$43.14	$1.01K	$36.44K	$107.27K	$151.49K	$88.34K	$86.11K	$60.25K	$2.53K
Borrow Interest	$42.49	$49.19	$52	$249	$2.87K	$4.91K	$308.58K	$816.7K	$41.12K
Liquidation Fees	$0	$0.16	$3	$2	$0	$107	$1.01K	$3.84K	$453
Morpho Performance Fees	$0.65	$783.7	$36.27K	$106.83K	$148.62K	$83.32K	$39.12K	$0	$0
Mint/Redeem Fees	$0	$174.96	$113	$192	$0	$0	$0	$0	$0
Earnings	$43.14	$1.01K	$36.44K	$107.27K	$151.49K	$88.34K	$86.11K	$60.25K	$2.53K
Token Holder Net Income	$0	$0	$0	$0	$0	$0	$0	$0	$0

Seamless Protocol(SEAM)

Key Metrics

Income Statement for SEAM

Token Rights and Value Accrual