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Per ESPN.com:

Friday brought a bit of clarity to Kam Chancellor's immediate future with the Seattle Seahawks.
While it's still uncertain if a neck injury suffered last season will allow the Pro Bowl strong safety to ever play football again, it has been expected that he will remain with the team for the time being as his medical situation is sorted out. That seems even more certain now that Chancellor's entire $6.8 million base salary for 2018 is fully guaranteed.
The three-year, $36 million extension Chancellor signed last summer called for his '18 salary to become fully guaranteed if he were to remain on Seattle's roster through Friday, which was the fifth day of the new league year waiver period. That money was guaranteed for injury only at the time of signing.

Not that shocker of a move based on how Seahawks have placed on their "Core" guys. There was almost no win-win situation unless you were most concerned with their salary cap and Kam's implications.

Due to the fact that he was injured and his status is still up in the air, it made it nearly impossible for the Seahawks to act and Kam has not stated his intentions for next year. Kam has injury guarantees so there's no motive for him to retire based on what he would receive over the next two years.

This is not played out yet but it's another look into how the Seahawks act and how they've managed their cap. I know @Veda-the-Moor has wanted to go a more Patriots-Way when it comes to handling our veterans, especially based on their cap.