Seamless Protocol is a decentralized lending and borrowing platform native to Base. Users can supply and borrow cbETH, ETH, and USDbC. SEAM is Seamless Protocol’s governance token as holders can participate in protocol governance throughout its various stages. In order for a governance proposal to be approved, it must pass an initial offchain vote followed by final vote executed onchain.

Reserve Rights (RSR) is the central governance token of the Reserve ecosystem. Reserve is a platform for creating DTFs (Decentralized Token Folios), which are the decentralized, self-custody, onchain version of ETFs. DTFs created on Reserve are called RTokens, and there are two types: Yield RTokens and Index RTokens. When staked on any Yield RToken or locked on any Index RToken, RSR holders gain governance rights to propose and vote on basket and configuration changes. For Yield RTokens, staked RSR serves as overcollateralization, providing first-loss capital in the unlikely case of a collateral default in exchange for a portion of revenue. RSR tokens can also be held unstaked if preferred.