DeFi lending protocol Seamless has announced that it will cease operations, and the official interface will be taken offline on June 30th.

BlockBeats News, April 8th, according to official sources, Base Protocol's lending protocol Seamless Protocol announced that it will gradually cease operations. The Seamless interface will be taken offline on June 30, 2026, and users are required to withdraw all assets, redeem leveraged tokens, and unstake SEAM before this date. The treasury on Morpho will also be liquidated in an orderly manner, with remaining DAO treasury assets being allocated to SEAM holders based on a governance proposal.

The reasons for the shutdown include structural challenges in the DeFi lending market, liquidity constraints of leveraged tokens, and a market shift towards actively managed treasuries rather than permissionless tokenized products. While the protocol mechanism functioned as designed, market conditions did not support widespread adoption, and ongoing development lacked a clear path to sustainable revenue.