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Wu said that the Base ecosystem DeFi lending protocol Seamless Protocol announced the initiation of its shutdown process. The front-end interface will be taken offline by June 30, 2026, and the team will also cease support at that time. The project team reminds users to complete asset withdrawals, leverage token redemptions, and SEAM unstaking before then. The team stated that the shutdown is mainly due to the leverage token products failing to find product-market fit (PMF), along with insufficient borrowing liquidity and narrowing yield opportunities in the DeFi lending market, which led to a lack of sustainable revenue streams for the protocol. Remaining DAO treasury assets will be redistributed to SEAM holders through governance proposals.