SkatePrice

(SKATE)

Skate is a universal application layer designed to enable "Stateless Apps." Unlike traditional multi-chain applications that require separate deployments on every individual chain, Skate allows developers to deploy once, with the app running natively across thousands of chains simultaneously using a unified state. It solves application fragmentation through a Hub-and-Spoke architecture where the application logic resides on the Skate Hub (an Ethereum Layer 2), while assets and users remain on their native chains. This eliminates the need for fragmented liquidity pools across different ecosystems.

The intent-powered architecture allows users to simply sign an "intent"—a statement of their desired outcome—on their preferred blockchain, such as Solana or Ethereum. Instead of the user navigating complex bridging processes, Skate’s executor network handles all the underlying cross-chain technicalities to fulfill that intent. This abstraction layer ensures that users can interact with decentralized applications across multiple virtual machines seamlessly, without needing to manage state transitions or assets across different chains manually.

The $SKATE token is central to the network's operations and serves three main purposes: governance, security, and transaction utility. Token holders can participate in governance by voting on protocol upgrades and the distribution of incentives. To secure the network, tokens are staked to support the EigenLayer Actively Validated Service (AVS). Additionally, $SKATE is used to pay for transaction fees associated with cross-chain execution and state management, ensuring the smooth operation of the universal application layer.

The $SKATE token has a fixed total supply of 1 billion tokens. To ensure long-term alignment and ecosystem stability, the project has established a rigorous vesting schedule for the team and investors. This schedule typically begins with a 6-month cliff, followed by a linear monthly vesting period that spans 3 to 3.5 years. This gradual release of tokens is designed to support the sustainable growth of the Skate infrastructure and its multi-chain capabilities.

Skatepark is an engagement ecosystem where users earn "Ollies," which are on-chain reputation points. Participants can earn these by minting skateboard part NFTs, such as Decks, Trucks, and Wheels, or by completing tasks within the Telegram Skateboard Workshop Bot. A portion of the token supply, approximately 10%, is allocated for community airdrops to reward early participants and contributors, including specialized categories like "Kaito Yappers" and users of partner protocols like Range Protocol.

The $SKATE token is available for trading on major digital asset exchanges, including LBank. For users looking to earn yield while securing the network, Skate offers options like ezSKATE. This product enables liquid restaking via EigenLayer AVS, allowing users to earn rewards while contributing to the security of the cross-chain infrastructure. Users should note that this project is a Web3 infrastructure layer and is entirely unrelated to the EA "Skate" video game.