Seamless is a DeFi protocol that makes complex strategies accessible with just a few clicks. Its Leverage Tokens, or LTs, are ERC-20 tokens that wrap like-to-like yield loops into a single token, saving users significant gas cost and hours of manual work. Fully onchain, LTs are tokenized and can be used throughout DeFi as collateral, on decentralized exchanges, and in many other ways.

Alongside LTs, Seamless also has a handful of Morpho Vaults on Base. Since October 2025, Seamless has been using Merkl to reward Vault users. These reward campaigns, which are still ongoing at the time of writing, help attract liquidity to support the DeFi strategies behind LTs.

When preparing to launch its Leverage Tokens, Seamless wanted to kickstart adoption and encourage users to mint LTs directly on the protocol. For this, Merkl’s proven incentive system was the natural choice.

Seamless launched targeted campaigns on Merkl for three of its Leverage Tokens:

• wstETH / ETH 25x LT
• siUSD / USDC 11x LT
• RLP / USDC 6.75x LT

The campaigns were designed to encourage DeFi users to mint these Leverage Tokens, giving a boost to early liquidity and creating a network effect that would attract even more users over time.

Incentives are most powerful at this early stage, when liquidity is limited and adoption is just starting. By offering rewards strategically, Seamless maximized adoption and set the stage for rapid growth.

Each campaign was short, lasting between 15 days and six weeks, and distributed a modest amount of rewards. This approach provided an initial push without overspending.

Merkl made it simple to launch these campaigns while giving them maximum exposure, appearing directly in the Merkl App where more than 200,000 monthly users are actively hunting for new reward opportunities. This combination of flexibility and exposure allowed Seamless to attract liquidity quickly and efficiently.

The campaigns for the three Leverage Tokens distributed just $2,640 in total rewards, yet they successfully drove over $100 million in new TVL.

Merkl’s campaigns gave Seamless the jumpstart it needed, demonstrating that targeted incentives combined with strong visibility can accelerate adoption and unlock significant growth even in the early stages of a product launch.

Looking ahead, Seamless plans to continue using Merkl for future Leverage Token launches.