Singapore, Singapore, April 3rd, 2024, Chainwire – Range Protocol, a unified liquidity provisioning platform, has officially launched Skate, a universal application layer that aims to make web3 more efficient for a modular future. Skate is backed by leading players in web3, including EigenLayer, Polygon, Manta, Axelar, Biconomy, Pendle, A41, Vertex, Navi, Galxe, Pontem, and more.
Designed with an intent-centric approach, Skate addresses the issue of application fragmentation in today’s multi-chain landscape. With the rise of modularity, there has been an increase in the number of chains, leading to the need for applications to deploy, adapt, and maintain across various chains. Skate solves this problem by offering a Universal Application Scope where essential applications are developed collectively and maintained in a shared pool accessible to all chains, regardless of their underlying Virtual Machine environment.
Skate is the only intent-centric application layer in the ecosystem, allowing applications to run on thousands of chains and different tech stacks simultaneously through a single interface. This eliminates the need for duplication of deployments and works as a hub for deploying, developing, and maintaining a singular version of smart contracts while servicing users across diverse chains.
One of the key innovations of Skate is its embedded interoperability within the application logic. Unlike the traditional approach of building apps first and integrating interoperability afterwards, Skate ensures that all applications are created with interoperability as a foundational component. This streamlines the development process and enhances the user experience by providing a fluid, interconnected ecosystem where transactions and information flow effortlessly between chains.
Skate will also be connected to all blockchains through Fast Finality Network, secured by EigenLayer actively validated service (AVS), to send state attestations from Skate with sufficient trust minimized assumptions. This allows for instantaneous cross-chain intent-driven settlements and reduces slippage when making trades, while also simplifying the process for end-users.
The launch of Skate is supported by buy-ins from leading web3 players, including EigenLayer, Polygon, Manta, Axelar, Biconomy, Pendle, A41, Vertex, Navi, Galxe, Pontem, and more. The Skate team brings together deep cumulative experience from leading companies like Altonomy, Point72, Bybit, Certik, and Citigroup.
Skate’s launch follows Range Protocol’s $3.75M seed round last year, led by HashKey Capital and Nomad Capital. In the coming months, Skate will introduce Testnet Campaigns to community members with unique incentives.
To stay updated on Skate and its upcoming testnet campaigns, follow their Twitter: https://twitter.com/skate_chain.
Siddharth Lalwani, Co-Founder, and CEO of Range Protocol is available for interview.
About Range Protocol and Skate:
Range Protocol is a unified liquidity provisioning platform that covers key DeFi asset classes through its vault offerings. It is supported by a team of financial engineers and web3 developers with extensive crypto trading experience from leading companies like Altonomy, Point72, Bybit, Certik, and Citigroup. Its most recent $3.75M seed round was led by HashKey Capital and Nomad Capital.
Skate is the universal application layer developed by the same team behind Range Protocol. It aims to efficiently solve application fragmentation in a modular web3 landscape and is backed by leading web3 players. Skate is connected to all chains through Fast Finality Network and ensures faster finality and universal application scope. For more information, please visit: http://skatechain.org/.
Contact:
Skate / Range Protocol
[email protected]
