Doug Baldwin has been tendered at the 2nd round level, Brian McIntyre reports (and confirmed by Doug himself on twitter). The tender would be worth $2.187M if signed.
What this means is that Seattle now has the right of first-refusal for any club that makes an offer on Baldwin as a restricted free agent, and if the Seahawks fail to match that offer, they receive a 2nd round pick from the team that has made the higher offer. It also means that if no club is willing to give up a 2nd round pick for Baldwin, Seattle would keep him at that $2.187M salary.
There's always an outside chance that some team sees Baldwin as worth a 2nd round pick, though, and offers him a better deal, so this could potentially get interesting. While rare, things like this happen (Emmanuel Sanders was tagged at his original round level last year -- a 3rd -- and the Patriots bit; the Steelers matched their offer though, and Sanders remained with the team).