CRYPTO MARKET INTELLIGENCE / ASSET DOSSIER

Seamless Protocol.

seam · coingecko:seamless-protocol

EVIDENCE · NOT A RECOMMENDATION
This dossier explains why the asset surfaced, what the stored evidence says, what changed, and which limitations remain. Deterministic signals are research questions, not investment conclusions.
Price$0.011682
Market cap$475,310.00
Active signals3
Total / circulating2.46×
Longest active streak5
Snapshots compared5

Why it surfaced

peer valuation difference

The valuation multiple differs materially from the eligible peer median

Current streak: 5 snapshots · triggered 5/5 observed snapshots

fundamental deterioration

At least one available fundamental deteriorated beyond the configured threshold

Current streak: 3 snapshots · triggered 3/5 observed snapshots

high dilution

Total supply is high relative to circulating supply

Current streak: 5 snapshots · triggered 5/5 observed snapshots

What changed

peer valuation difference
continuing · streak 5 · 5/5 snapshots
fundamental deterioration
continuing · streak 3 · 3/5 snapshots
high dilution
continuing · streak 5 · 5/5 snapshots

Latest fundamental observations

MetricPeriodValueObserved
fees24h$0.002026-10-11T04:49:24.915Z
fees30d$0.002026-10-11T04:49:24.915Z
fees7d$0.002026-10-11T04:49:24.915Z
feesdaily$0.002026-10-06T00:00:00.000Z
holders revenue24h$0.002026-10-11T04:49:36.133Z
holders revenue30d$0.002026-10-11T04:49:36.133Z
holders revenue7d$0.002026-10-11T04:49:36.133Z
holders revenuedaily$0.002026-10-06T00:00:00.000Z
revenue24h$0.002026-10-11T04:49:28.176Z
revenue30d$0.002026-10-11T04:49:28.176Z
revenue7d$0.002026-10-11T04:49:28.176Z
revenuedaily$0.002026-10-06T00:00:00.000Z
tvlpoint in time$6.75M2026-10-11T04:49:10.103Z

Historical changes

MetricWindowChangeBoundary
fees usd:daily7d527.27%2026-09-28T00:00:00.000Z → 2026-10-05T00:00:00.000Z
market cap usd:point in time7d-3.76%2026-10-04T00:00:00.000Z → 2026-10-11T04:25:51.000Z
revenue usd:daily7d260.00%2026-09-28T00:00:00.000Z → 2026-10-05T00:00:00.000Z
tvl usd:point in time7d-6.58%2026-10-04T00:00:00.000Z → 2026-10-11T04:49:10.103Z
fees usd:daily30d-33.01%2026-09-05T00:00:00.000Z → 2026-10-05T00:00:00.000Z
market cap usd:point in time30d-16.96%2026-09-11T00:00:00.000Z → 2026-10-11T04:25:51.000Z
revenue usd:daily30d-14.29%2026-09-05T00:00:00.000Z → 2026-10-05T00:00:00.000Z
tvl usd:point in time30d3.55%2026-09-11T00:00:00.000Z → 2026-10-11T04:49:10.103Z
fees usd:daily90d-49.08%2026-07-07T00:00:00.000Z → 2026-10-05T00:00:00.000Z
market cap usd:point in time90d-52.97%2026-07-13T00:00:00.000Z → 2026-10-11T04:25:51.000Z
revenue usd:daily90d-28.00%2026-07-07T00:00:00.000Z → 2026-10-05T00:00:00.000Z
tvl usd:point in time90d6.00%2026-07-13T00:00:00.000Z → 2026-10-11T04:49:10.103Z
fees usd:daily180d-99.60%2026-04-08T00:00:00.000Z → 2026-10-05T00:00:00.000Z
market cap usd:point in time180d-81.86%2026-04-14T00:00:00.000Z → 2026-10-11T04:25:51.000Z
revenue usd:daily180d-99.66%2026-04-08T00:00:00.000Z → 2026-10-05T00:00:00.000Z
tvl usd:point in time180d-84.76%2026-04-14T00:00:00.000Z → 2026-10-11T04:49:10.103Z

Market snapshot

Circulating supply
40.69M
Total supply
100M
Max supply
100M
Provider updated
2026-10-11T04:25:51.000Z

Evidence coverage

Verified/provider links
3
Stored fundamental observations
7,417
Calculated history rows
16
Signal comparison
prior snapshot

Evidence synthesis

Generate or open a cached AI research brief constrained to this dossier's stored evidence, calculations, and limitations.

Open AI research brief

Rule evaluations

revenue growth declining multiple · included · no signal

Eligible, but configured thresholds were not jointly met

Limits: Revenue multiple uses 24-hour revenue annualized consistently at both endpoints

Inputs and calculation
{
  "inputs": {
    "revenue": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "7620d76a-e61d-45c8-b660-8030a1736bc7:3502:revenue:1789084800+7620d76a-e61d-45c8-b660-8030a1736bc7:6286:revenue:1789084800+ef03241a-b7f7-4c10-9f5c-1bffdc40dea0:6000:revenue:1789084800",
        "at": "2026-09-11T00:00:00.000Z",
        "value": 0.33
      },
      "end": {
        "id": "5fde7da8-3c37-4879-8995-06f079ce2348:16247+5fde7da8-3c37-4879-8995-06f079ce2348:17695+5fde7da8-3c37-4879-8995-06f079ce2348:17983",
        "at": "2026-10-11T04:49:28.176Z",
        "value": 0.2
      },
      "percent": -39.39393939393939,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    },
    "marketCap": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "ef03241a-b7f7-4c10-9f5c-1bffdc40dea0:coingecko:seamless-protocol:1789084800000",
        "at": "2026-09-11T00:00:00.000Z",
        "value": 572399.5001678957
      },
      "end": {
        "id": "ea5e0bde-a4b1-4259-ae6c-448457ec97b0",
        "at": "2026-10-11T04:25:51.000Z",
        "value": 475310
      },
      "percent": -16.961842234211854,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    }
  },
  "calculation": {
    "startMultiple": 1734543.9399027142,
    "endMultiple": 2376550,
    "multipleChange": 37.01296031355044
  },
  "evaluatedAt": "2026-10-11T04:49:10.103Z"
}

activity growth stagnant market cap · included · no signal

Eligible, but configured thresholds were not jointly met

Inputs and calculation
{
  "inputs": {
    "activity": {
      "metric": "fees_usd",
      "result": {
        "status": "calculated",
        "windowDays": 30,
        "start": {
          "id": "7620d76a-e61d-45c8-b660-8030a1736bc7:3502:fees:1789084800+7620d76a-e61d-45c8-b660-8030a1736bc7:6286:fees:1789084800+ef03241a-b7f7-4c10-9f5c-1bffdc40dea0:6000:fees:1789084800",
          "at": "2026-09-11T00:00:00.000Z",
          "value": 3
        },
        "end": {
          "id": "5fde7da8-3c37-4879-8995-06f079ce2348:10169+5fde7da8-3c37-4879-8995-06f079ce2348:10487+5fde7da8-3c37-4879-8995-06f079ce2348:8482",
          "at": "2026-10-11T04:49:24.915Z",
          "value": 14
        },
        "percent": 366.66666666666663,
        "definition": "(end - start) / abs(start) * 100 over 30 days"
      }
    },
    "marketCap": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "ef03241a-b7f7-4c10-9f5c-1bffdc40dea0:coingecko:seamless-protocol:1789084800000",
        "at": "2026-09-11T00:00:00.000Z",
        "value": 572399.5001678957
      },
      "end": {
        "id": "ea5e0bde-a4b1-4259-ae6c-448457ec97b0",
        "at": "2026-10-11T04:25:51.000Z",
        "value": 475310
      },
      "percent": -16.961842234211854,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    }
  },
  "calculation": {
    "activityChangePercent": 366.66666666666663,
    "marketCapChangePercent": -16.961842234211854
  },
  "evaluatedAt": "2026-10-11T04:49:10.103Z"
}

improving tokenholder value capture · excluded · no signal

Starting value is zero; percentage change is undefined

Limits: Requires holders revenue and fees at both boundaries

Inputs and calculation
{
  "inputs": {},
  "calculation": null,
  "evaluatedAt": "2026-10-11T04:49:10.103Z"
}

peer valuation difference · included · signal

The valuation multiple differs materially from the eligible peer median

Limits: A difference is not evidence of mispricing; protocol economics may not be comparable

Inputs and calculation
{
  "inputs": {
    "currentCap": 475310,
    "latestRevenue": 0.2,
    "peerMedian": 38.94632991802476
  },
  "calculation": {
    "annualizedRevenueMultiple": 6511.095890410959,
    "peerMultipleRatio": 167.18124414073628
  },
  "evaluatedAt": "2026-10-11T04:49:10.103Z"
}

fundamental deterioration · included · signal

At least one available fundamental deteriorated beyond the configured threshold

Inputs and calculation
{
  "inputs": {
    "fees": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "7620d76a-e61d-45c8-b660-8030a1736bc7:3502:fees:1789084800+7620d76a-e61d-45c8-b660-8030a1736bc7:6286:fees:1789084800+ef03241a-b7f7-4c10-9f5c-1bffdc40dea0:6000:fees:1789084800",
        "at": "2026-09-11T00:00:00.000Z",
        "value": 3
      },
      "end": {
        "id": "5fde7da8-3c37-4879-8995-06f079ce2348:10169+5fde7da8-3c37-4879-8995-06f079ce2348:10487+5fde7da8-3c37-4879-8995-06f079ce2348:8482",
        "at": "2026-10-11T04:49:24.915Z",
        "value": 14
      },
      "percent": 366.66666666666663,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    },
    "revenue": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "7620d76a-e61d-45c8-b660-8030a1736bc7:3502:revenue:1789084800+7620d76a-e61d-45c8-b660-8030a1736bc7:6286:revenue:1789084800+ef03241a-b7f7-4c10-9f5c-1bffdc40dea0:6000:revenue:1789084800",
        "at": "2026-09-11T00:00:00.000Z",
        "value": 0.33
      },
      "end": {
        "id": "5fde7da8-3c37-4879-8995-06f079ce2348:16247+5fde7da8-3c37-4879-8995-06f079ce2348:17695+5fde7da8-3c37-4879-8995-06f079ce2348:17983",
        "at": "2026-10-11T04:49:28.176Z",
        "value": 0.2
      },
      "percent": -39.39393939393939,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    },
    "tvl": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "7620d76a-e61d-45c8-b660-8030a1736bc7:3502:tvl:1789084800+7620d76a-e61d-45c8-b660-8030a1736bc7:6286:tvl:1789084800+ef03241a-b7f7-4c10-9f5c-1bffdc40dea0:6000:tvl:1789084800",
        "at": "2026-09-11T00:00:00.000Z",
        "value": 7065323
      },
      "end": {
        "id": "5fde7da8-3c37-4879-8995-06f079ce2348:1576+5fde7da8-3c37-4879-8995-06f079ce2348:7045+5fde7da8-3c37-4879-8995-06f079ce2348:776",
        "at": "2026-10-11T04:49:10.103Z",
        "value": 7315912.65243625
      },
      "percent": 3.5467543725354087,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    }
  },
  "calculation": {
    "worstChangePercent": -39.39393939393939
  },
  "evaluatedAt": "2026-10-11T04:49:10.103Z"
}

high dilution · included · signal

Total supply is high relative to circulating supply

Limits: Supply fields are provider-reported and do not describe unlock timing

Inputs and calculation
{
  "inputs": {
    "circulatingSupply": 40685995,
    "totalSupply": 100000000
  },
  "calculation": {
    "totalToCirculatingRatio": 2.4578482104222843
  },
  "evaluatedAt": "2026-10-11T04:49:10.103Z"
}

data quality investigation · included · no signal

No provider identity conflict detected

Inputs and calculation
{
  "inputs": {
    "identityConflict": false
  },
  "calculation": null,
  "evaluatedAt": "2026-10-11T04:49:10.103Z"
}

Provenance and raw evidence

Classification evidence
[
  {
    "assetId": "coingecko:seamless-protocol",
    "kind": "sector",
    "value": "lending_borrowing",
    "status": "classified",
    "reason": "Canonical mapping from DeFiLlama category Lending",
    "sourceProvider": "defillama",
    "sourceRecord": "3502",
    "observedAt": "2026-10-11T04:49:10.103Z"
  },
  {
    "assetId": "coingecko:seamless-protocol",
    "kind": "sector",
    "value": "other",
    "status": "classified",
    "reason": "Canonical mapping from DeFiLlama category Onchain Capital Allocator",
    "sourceProvider": "defillama",
    "sourceRecord": "6000",
    "observedAt": "2026-10-11T04:49:10.103Z"
  },
  {
    "assetId": "coingecko:seamless-protocol",
    "kind": "asset_type",
    "value": "protocol_token",
    "status": "classified",
    "reason": "Canonical type mapping from DeFiLlama category Lending",
    "sourceProvider": "defillama",
    "sourceRecord": "3502",
    "observedAt": "2026-10-11T04:49:10.103Z"
  }
]
Identity relationships
[
  {
    "assetId": "coingecko:seamless-protocol",
    "protocolId": "6286",
    "protocolSlug": "seamless-v2",
    "method": "chain_contract",
    "evidence": "DeFiLlama address=base:0x1c7a460413dd4e964f96d8dfc56e7223ce88cd85; CoinGecko platforms.base=0x1c7a460413dd4e964f96d8dfc56e7223ce88cd85",
    "status": "verified_provider_relationship"
  },
  {
    "assetId": "coingecko:seamless-protocol",
    "protocolId": "3502",
    "protocolSlug": "seamless-v1",
    "method": "chain_contract",
    "evidence": "DeFiLlama address=base:0x1c7a460413dd4e964f96d8dfc56e7223ce88cd85; CoinGecko platforms.base=0x1c7a460413dd4e964f96d8dfc56e7223ce88cd85",
    "status": "verified_provider_relationship"
  },
  {
    "assetId": "coingecko:seamless-protocol",
    "protocolId": "6000",
    "protocolSlug": "seamless-vaults",
    "method": "chain_contract",
    "evidence": "DeFiLlama address=base:0x1c7a460413dd4e964f96d8dfc56e7223ce88cd85; CoinGecko platforms.base=0x1c7a460413dd4e964f96d8dfc56e7223ce88cd85",
    "status": "verified_provider_relationship"
  }
]
Research statuses
[
  {
    "assetId": "coingecko:seamless-protocol",
    "observedAt": "2026-10-11T04:49:10.103Z",
    "status": "analyzable",
    "method": "global",
    "reason": "At least one deterministic screening method is eligible"
  },
  {
    "assetId": "coingecko:seamless-protocol",
    "observedAt": "2026-10-11T04:49:10.103Z",
    "status": "excluded_from_method",
    "method": "improving_tokenholder_value_capture",
    "reason": "Starting value is zero; percentage change is undefined"
  },
  {
    "assetId": "coingecko:seamless-protocol",
    "observedAt": "2026-10-11T04:49:10.103Z",
    "status": "requires_manual_investigation",
    "method": "global",
    "reason": "At least one deterministic research signal triggered"
  }
]
Human review decisions
[]
Full fundamental evidence
[
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:762",
    "protocolId": "6286",
    "metric": "tvl_usd",
    "period": "point_in_time",
    "observedAt": "2026-09-22T21:51:30.762Z",
    "value": 7402612.835366572,
    "unit": "USD",
    "definition": "DeFiLlama protocol TVL at collection time",
    "sourceUrl": "https://api.llama.fi/protocols",
    "methodology": null
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:10326",
    "protocolId": "6286",
    "metric": "fees_usd",
    "period": "24h",
    "observedAt": "2026-09-22T21:51:32.324Z",
    "value": 0,
    "unit": "USD",
    "definition": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyFees",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
      "Revenue": "All mint and redeem fees, management fees are protocol revenue.",
      "ProtocolRevenue": "All mint and redeem fees, management fees are retained by the protocol.",
      "SupplySideRevenue": "Interest paid to lenders"
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:10327",
    "protocolId": "6286",
    "metric": "fees_usd",
    "period": "7d",
    "observedAt": "2026-09-22T21:51:32.324Z",
    "value": 0,
    "unit": "USD",
    "definition": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyFees",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
      "Revenue": "All mint and redeem fees, management fees are protocol revenue.",
      "ProtocolRevenue": "All mint and redeem fees, management fees are retained by the protocol.",
      "SupplySideRevenue": "Interest paid to lenders"
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:10328",
    "protocolId": "6286",
    "metric": "fees_usd",
    "period": "30d",
    "observedAt": "2026-09-22T21:51:32.324Z",
    "value": 0,
    "unit": "USD",
    "definition": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyFees",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
      "Revenue": "All mint and redeem fees, management fees are protocol revenue.",
      "ProtocolRevenue": "All mint and redeem fees, management fees are retained by the protocol.",
      "SupplySideRevenue": "Interest paid to lenders"
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:17100",
    "protocolId": "6286",
    "metric": "revenue_usd",
    "period": "24h",
    "observedAt": "2026-09-22T21:51:34.223Z",
    "value": 0,
    "unit": "USD",
    "definition": "All mint and redeem fees, management fees are protocol revenue.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
      "Revenue": "All mint and redeem fees, management fees are protocol revenue.",
      "ProtocolRevenue": "All mint and redeem fees, management fees are retained by the protocol.",
      "SupplySideRevenue": "Interest paid to lenders"
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:17101",
    "protocolId": "6286",
    "metric": "revenue_usd",
    "period": "7d",
    "observedAt": "2026-09-22T21:51:34.223Z",
    "value": 0,
    "unit": "USD",
    "definition": "All mint and redeem fees, management fees are protocol revenue.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
      "Revenue": "All mint and redeem fees, management fees are protocol revenue.",
      "ProtocolRevenue": "All mint and redeem fees, management fees are retained by the protocol.",
      "SupplySideRevenue": "Interest paid to lenders"
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:17102",
    "protocolId": "6286",
    "metric": "revenue_usd",
    "period": "30d",
    "observedAt": "2026-09-22T21:51:34.223Z",
    "value": 0,
    "unit": "USD",
    "definition": "All mint and redeem fees, management fees are protocol revenue.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "Management fees and Mint and redeem fees collected from leverage token operations. Fees are calculated as a percentage of the assets being minted or redeemed, as defined in each leverage token configuration.",
      "Revenue": "All mint and redeem fees, management fees are protocol revenue.",
      "ProtocolRevenue": "All mint and redeem fees, management fees are retained by the protocol.",
      "SupplySideRevenue": "Interest paid to lenders"
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:22132",
    "protocolId": "6286",
    "metric": "holders_revenue_usd",
    "period": "24h",
    "observedAt": "2026-09-22T21:51:36.166Z",
    "value": 0,
    "unit": "USD",
    "definition": "DeFiLlama holders_revenue_usd; definition is protocol-adapter specific and was not supplied",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyHoldersRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
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