The Seamless Spark Asset Integration Program!

Seamless Protocol is the home base of Base, where projects can direct liquidity for lending and borrowing.

What is Seamless Spark? Seamless Spark is the asset integration program for Seamless, the first and largest, decentralized lending and borrowing protocol on Base. The proposal initiator of potential assets should complete the Seamless Spark program in order to ensure a healthy market for lending and borrowing.

Why does Seamless Spark exist? Seamless Spark strikes the balance of enabling smaller and less liquid projects/assets to integrate. This fosters inclusivity for the Base ecosystem, while also mindfully balancing the inherent risks associated with their integration. Thus, ensuring accessibility without compromising on safety or usability, bridging the gap between overly gate-kept platforms (i.e. Compound and AAVE) and the inclusion of assets seeking greater liquidity options.

How does it work? All assets in the Seamless Spark program must go through governance voting procedures. However, with the robustness of Seamless Spark, projects can demonstrate legitimacy to the community for easier/fast-tracked decisioning.

The Proposal Initiator interested in the asset integration must submit the proposal below into the Seamless Discourse, where the community can discuss proposals and get questions answered. This begins the remainder of the governance process.

The proposal includes 3 important pieces.

Background Info: The asset must have sufficient liquidity in order to be considered. This information would be considered in setting potential Supply and Borrow cap parameters. Sufficient liquidity can be further defined by Chaos Labs, a risk analysis community contributor, but depends on the type of asset and integration considered. Typically, liquidity on the major Base DEXs is a starting point for consideration (less liquidity would mean more restrictive caps on the asset).

The Community Spark Incentives: To spark the market, the Proposal Initiator should commit assets to incentivize participation in the new markets, both for the suppliers and borrowers. For Proposal Initiators who are looking to expand their user base, assets can also be committed into incentivizing other existing supply/borrow markets.

The Commitment from the Proposal Initiator: As a display of confidence, the Proposal Initiator or project community should seed the supply market with a certain amount of assets. They should also set aside a minimum requirement for paying off bad debt in case of illiquid liquidations.

The Process Fill out the Seamless Spark Proposal Template below and submit as a forum post on discourse here Once posted, an open period of discussion in Discourse for at least 5 days for community comments and suggestions begins Posts that receive enough support are moved to a snapshot labs vote and follow a typical proposal process (i.e. community temperature check, then those that pass need to form onchain quorum, etc)

Looking into the Future The Spark process may be revisited from time-to-time by the community, taking past integrations and new market landscapes into account for adjustments - it is a living-breathing process Assets will be run through evaluation by community contributor Chaos Labs where possible to leverage their expertise and experiences Minimum commitment thresholds may be instituted by the community as more experience with the program develops

Seamless Spark Proposal for [ASSET]

Background Info

• What is the Project’s official name?
• What is the official website link?
• What is the symbol of the proposed asset for integration (referred to as “[ASSET]” below).
• Base smart contract link on Basescan.
• Name the DEX(es) with highest [ASSET] liquidity, and include the size of liquidity of each.

For the Community Spark Incentives

• How many [ASSET] will you use to incentivize the [ASSET]-Suppliers? For what length of time?
• How many [ASSET] will you use to incentivize the [ASSET]-Borrowers? For what length of time?
• Which existing Supply markets will you spark (e.g. ETH, USDbC)? Include the number of tokens & length of time of emissions.
• Which existing Borrow markets will you spark (e.g. ETH, USDbC)? Include the number of tokens & length of time of emissions.

Commitment from the Proposal Initiator or Project Community

• What is the number of [ASSET] that you/your community will use to initially “spark” the Supply market?
• What is the minimum length of time that your [ASSET] will be supplied into the proposed market?
• What is the minimum insurance size you will maintain to pay off instances of bad debt (in USDC)?