In the current situation of Web3 multiple chains coexisting, the multi-chain structure has brought a variety of choices, but it has also brought a lot of trouble. Developers have to develop applications for each chain separately, which is costly and inefficient; users operate between different chains, the steps are cumbersome and the experience is not good; liquidity is also scattered on each chain, just like water is divided into many small puddles, it is difficult to form a large "water flow", which is not conducive to the development of the entire market.
However, #Skate appeared, and it is like a solid bridge, connecting multiple chains such as EVM, $Solana, $TON , allowing applications to run smoothly on these chains, and providing new ideas for solving cross-chain problems. Now, as the relevant important stages are approaching, Skate’s AMM trading activities have entered a stage where rewards can be obtained. This is a good time to seize the opportunity to participate early.
Skate: The “Icebreaker” of Cross-Chain Problems
Skate is a stateless, cross-virtual machine (VM) infrastructure layer that builds a solid framework for cross-chain applications.
In the past, blockchain applications were like independent "islands", each with its own rules and status. Every time an application was deployed, the state and logic had to be rebuilt, which resulted in high development costs, complicated user operations, and liquidity was scattered across the "islands". Skate proposed the concept of "universal application scope", allowing applications to run seamlessly across multiple chains and share a unified state, just like connecting these "islands" to form a "continent".
Skate's architecture is unique. The global application logic allows all chains to access the unified application state. Developers only need to deploy the application once and use it on multiple chains. Intent-driven execution allows users to sign transaction intentions on the native chain, and the executor will process it in real time, just like having an intelligent "little secretary" to help users complete cross-chain operations, which is safe and convenient. The stateless coordination layer is only responsible for coordinating logic and liquidity, and does not host assets, ensuring the security of cross-chain execution. Moreover, it supports multiple platforms, not just EVM, like a multi-functional "toolbox" that can meet different needs.
Compared with other cross-VM solutions, Skate has obvious advantages. It is built from scratch, supports multiple platforms, the integration model is based on intent, there is no need to rewrite smart contracts, the liquidity framework is unified across chains, and security is guaranteed. It is like a more advanced and practical "new tool".
Skate Innovation: Changing the Rules of Cross-Chain
The “pain points” of traditional cross-chain
Low development efficiency: Each chain must deploy applications separately, and must repeatedly audit and guide liquidity, which is very costly. It is like building a house, each building must be redesigned and constructed, which is very troublesome.
In addition to production, you also have to face price deviations and slippage losses, which is like transferring between different cities, which is very troublesome.
Liquidity is fragmented: When a new chain is launched, there is insufficient liquidity, and stablecoins and RWA protocols are difficult to expand across chains, just like a small stream with too little water to form a big river.
Skate’s “Innovation Magic Weapon”
Skate achieves cross-chain unification through four architectural innovations:
Global application logic: Share a single application state that can be accessed by any chain. Developers only need to deploy it once, just like having a shared "warehouse" that everyone can use.
Intent-driven execution: When a user signs a transaction intention on the native chain, the executor will process it in real time without the need for manual cross-chain. It is like having a "courier" to help users deliver their items to another "island".
Stateless coordination layer: only coordinates logic and liquidity, and the assets remain on the original chain, avoiding bridging risks. It is like a "security butler" who is only responsible for coordination and does not touch the user's "property".
Cross-VM compatibility: Supports multiple platforms, breaking the limitation of "only using EVM", like a "universal translator" that allows people of different languages to communicate.
Compared with traditional solutions, Skate is better in cross-VM support, integration cost, liquidity model and security, just like a better "player".
Skate AMM: The “hub” for cross-chain liquidity
In modern DeFi, liquidity dispersion is a big problem. When a new public chain is launched, liquidity is limited, arbitrage efficiency is low, and the price deviation of stablecoins and interest-bearing tokens is large, which affects the capital utilization efficiency of users and protocols. It is like a "market" where goods are scattered in different places and it is difficult to form effective transactions.
As a middleware, Skate AMM unifies the liquidity between multiple virtual machines, achieving real-time, cross-chain price alignment and efficient arbitrage execution. It adopts a unified global Bitmap model and builds a shared liquidity model. All transactions inherit a unified price curve, which is anchored to the deep liquidity pool on the main chain to ensure cross-environment pricing consistency. With the help of Hyperlane's message transmission infrastructure, Skate AMM can also automatically adjust liquidity between VMs in real time, just like an "intelligent traffic commander", allowing goods to flow quickly and accurately between different "warehouses".
Skate AMM has many advantages. The unified price discovery mechanism allows L2 and alt-VM to accurately reflect the main chain price, eliminate liquidity premiums, and achieve fair liquidity acquisition; seamless arbitrage execution reduces slippage and inefficient arbitrage, maintains market equilibrium and capital efficiency; plug-and-play arbitrage infrastructure allows protocols to be easily integrated, without additional operational burdens, to capture spread gains and MEV opportunities, like a "convenient toolkit" that allows everyone to make money more easily.
Skate AMM is an important infrastructure for stablecoins and RWA protocols. It eliminates cross-chain liquidity friction, makes liquidity portable, makes transaction execution seamless, and enables better combination and interoperability of cross-chain finance, just like a "transportation hub" that allows different "transportation tools" to pass smoothly.
How to get rewards: "Small benefits" of AMM transactions
Skate’s rewards are mainly for those who actively participate in ecological construction.
Aito users provide a 1% bonus pool of the total amount of related rewards, mainly for early Skate Yappers, Kaito ecosystem, and the first 20,000 Yappers who contributed to Skate AMM. There are also some mechanisms to increase rewards, such as 1.5 times the reward for the top 1,000 Solana chain transactions, 1.5 times the reward for the top 1,000 Yappers, and 2 times the reward for active users in the Korean community. The reward distribution cycle is shortened from one month to two weeks, and the first distribution will be made in the 6th week.
Skatepark participants are also eligible for rewards. Skatepark is a place where users can dive into the cross-VM application ecosystem and earn Ollies (equivalent to participation rewards). The first season will end on June 3.
There are currently two ways to obtain rewards. One is to publish high-quality original manuscripts to obtain yap reward certificates, and the other is to participate in the six-week Skate AMM event.
The portal for AMM activities is https://amm.skatechain.org/swap. You can link your wallet through the portal, fill in the invitation code: CJ5KI7, and trade. You will get reward certificates based on the trading volume. In addition, the inviter can also get reward certificates by trading.
The activity will last for 6 weeks from May 19 to June 30. When the global total transaction volume reaches 250 million, 500 million, and 1 billion US dollars, participants will receive an additional 5% reward. The reward vouchers are divided into two categories: Yap vouchers and transaction referral vouchers. Global vouchers = (Yap vouchers + transaction referral vouchers) × promotion multiplier, and transaction referral vouchers are snapshotted every two weeks.
Future Outlook: Skate’s “New Journey”
The Skate project is in a stage of rapid development, and an important stage is coming soon, which means that the project will move from the testing stage to full ecological expansion.
The eta test has achieved certain results. Within two months of its launch, the cumulative transaction volume exceeded US$100 million, covering multiple chains such as Ethereum, Base, BNB Chain, Solana and Eclipse. This shows that it has strong deployment capabilities in a cross-virtual machine environment and meets market demand.
As the first project in the ecosystem to realize actual benefits and redistribute them to participants, Skate has demonstrated long-term sustainability through real benefits rather than pure token incentives. The completion of the first protocol fee distribution also consolidates its position in the ecosystem.
The approach of relevant important stages will release the potential of Skate, attract more developers, protocols and users to join its ecosystem, and bring new impetus to the interoperability and composability of cross-chain finance. For the majority of users, participating in the Beta test now can not only experience this innovative infrastructure in advance, but also lock in some small opportunities before the important stage.
Skate, with its innovative stateless infrastructure and powerful Skate AMM, has brought new hope to cross-chain finance. AMM trading activities before relevant important stages are opportunities for users to obtain reward certificates. You can pay attention to it, participate in the ecological construction of Skate, and take a look at the new development of cross-chain finance.
References
Related announcement: https://x.com/skate_chain/status/1897291874828001578
Related white paper: https://www.skatechain.org/amm-whitepaper.pdf
AMM dashboard: https://flipsidecrypto.xyz/Hessish/skate-amm-RBaNPu
Skate related incentive plan: https://x.com/skate_chain/status/1924049086967394334
Skate’s role in cross-chain: https://x.com/skate_chain/status/1877306465511408044
