Singapore, Singapore, April 3, 2024, Chainwire
Backed by major Web3 founders including EigenLayer, Polygon, Manta, Axelar, Pendle, A41, and Galxe, Skate streamlines Web3 for a modular future by solving application fragmentation. We support the company's vision to
Range Protocol, a unified liquidity provisioning platform, today announced the launch of Skate, a universal application layer that enables apps to run on thousands of chains with one state.
Designed with an intent-centric approach, Skate aims to efficiently address application fragmentation as a single hub for all code deployments across all chains. Backed by major Web3 players including EigenLayer, Polygon, Manta, Axelar, Biconomy, Pendle, A41, Vertex, Navi, Galxe, Pontem, and more, Skate delivers vision with faster finality and universal application scope. and pave the way to the mainnet. Released within the year.
In today's multi-chain environment, applications face the pressing need to deploy, adapt, and maintain across a growing number of chains. Skate introduces the concept of universal application scope, where critical applications are developed collectively and maintained in a shared pool that isaccessible to all chains, regardless of the underlying virtual machine environment. Skate allows users and developers to efficiently and instantly access thousands of chains by operating their single application instance.
Siddharth Lalwani, Co-founder and CEO, Range Protocol “The rise of modularity has spurred innovations such as increasing throughput and reducing transaction costs. However, this has also come with its own set of challenges, most notably application fragmentation. Skate is a universal It introduces the concept of an application layer, where critical applications are collectively developed and maintained in a shared pool accessible to all chains, which efficiently meets the basic needs of builders and users. This will enable each chain to focus on creating value-added services and building the building blocks for a modular future.”
From replication to innovation: one skate, one state
Skate is the only intent-centric application layer in the ecosystem, allowing applications to run across thousands of chains and different technology stacks simultaneously through a single interface. Skate acts as a hub to deploy, develop, and maintain a single version of smart contracts while avoiding duplication of deployments and serving users across diverse chains.
One of Skate's key innovations is building interoperability within the application logic. This reverses the traditional approach of building apps first and integrating interoperability later. Skate ensures that all applications are built with interoperability as their fundamental components, streamlining the development process and eliminating the need to bridge assets as well as transacting and transacting across chains. It greatly improves the user experience by providing a fluid, interconnected ecosystem where information flows easily.
Apart from the underlying interoperability network, Skate is connected to all blockchains via the Fast Finality Network, secured by the EigenLayer Active Verification Service (AVS), with minimal sufficient trust assumptions. Submit your status certificate from Skate. This enables cross-chain, intent-driven, instant payments, reducing slippage during transactions while eliminating unnecessary complexity from the end-user perspective.
Secure a modular future powered by Web3 pioneers
Skate's launch is supported by buy-ins from major Web3 players including EigenLayer, Polygon, Manta, Axelar, Biconomy, Pendle, A41, Vertex, Navi, Galxe, Pontem, and more. Forged by the same team of financial engineers and his Web3 developers behind Range Protocol, a unified liquidity provisioning platform covering major DeFi asset classes, the Skate team includes Altonomy, Point72, Bybit, Certik, Citigroup, and more. brings a wealth of accumulated experience from leading companies. Skate's launch also follows Range Protocol's $3.75 million seed round last year led by HashKey Capital and Nomad Capital. In the coming months, Skate aims to introduce his testnet campaign, complete with unique incentives, to his members of the community. Be sure to follow us on Twitter to stay up to date with Skate and our upcoming testnet campaigns. https://twitter.com/skatechain.
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Siddharth Lalwani, co-founder and CEO of Range Protocol, joins us for an interview.
About range protocols and skating
Range Protocol is an integrated liquidity provisioning platform backed by a robust on-chain trading infrastructure. Range Protocol leverages advanced expertise and specialized strategies to cover major DeFi asset classes through its vault products. Combining the best of automated market makers (AMM) and requests for quotation (RFQ), the Range protocol empowers the next generation of investors with sound decision-making and optimized strategies without the need for intermediaries.
Range Protocol was created by a team of financial engineers and Web3 developers with extensive cryptocurrency trading proficiency, bringing deep experience from leading companies such as Altonomy, Point72, Bybit, Certik, and Citigroup. The latest $3.75 million seed round was led by HashKey Capital and Nomad Capital.
The scope has now expanded to Skate, a universal application layer that allows apps to run on thousands of chains with one state. Skate was born out of recognition of the limitations of traditional on-chain trading infrastructure, which deploys iterative blocks on each new chain. Powered by innovation, Skate delivers fast finality across all chains secured by EigenLayer Active Validated Service (AVS) and acts as a single hub for all code deployments. By separating assets from prices, Skate introduces the concept of universal application scope. In this concept, critical applications are developed collectively and maintained in a shared pool that is accessible from all chains, regardless of the underlying virtual machine environment. Solving dApp/Chain liquidity fragmentation in a modular Web3 landscape, Skate ensures that basic needs are efficiently met, allowing each chain to focus on creating its own value-added services .
See below for more information.
Website: http://skatechain.org/
Twitter/X: https://twitter.com/skatechain
contact
Skate/Range Protocol
range@wachsman.com
Source: the-blockchain.com
