Unified Liquidity Platform Range Protocol Unveils Skate: The First Universal Application Layer Powering Apps to Run on All Chains With One State

Singapore,
Singapore,
April
3rd,
2024,
Chainwire

Skate
is
backed
by
leading
founders
in
web3,
including
EigenLayer,
Polygon,
Manta,
Axelar,
Pendle,
A41
and
Galxe,
supporting
its
vision
to
make
web3
efficient
for
a
modular
future
by
solving
application
fragmentation 

Range
Protocol,
a
unified
liquidity
provisioning
platform,
today
announced
the
launch
of
Skate,
the
universal
application
layer
that
empowers
apps
to
run
on
thousands
of
chains
with
one
state. 

Designed
with
an
intent-centric
approach,
Skate
aims
to
efficiently
address
the
application
fragmentations
as
a
single
hub
for
all
code
deployment
across
all
chains.
Backed
by
leading
web3
players,
including
EigenLayer,
Polygon,
Manta,
Axelar,
Biconomy,
Pendle,
A41,
Vertex,
Navi,
Galxe,
Pontem
and
more,
Skate
will
deliver
its
vision
with
faster
finality
and
universal
application
scope,
paving
the
way
for
its
mainnet
launch
within
the
year. 

In
today’s
multi-chain
landscape,
applications
face
pressing
needs
to
deploy,
adapt
and
maintain
across
an
increasing
number
of
chains.
Skate
introduces
the
concept
of
a
Universal
Application
Scope,
where
essential
applications
are
developed
collectively
and
maintained
in
a
shared
pool
accessible
to
all
chains
—
regardless
of
its
underlying
Virtual
Machine
environment.
With
Skate,
users
and
developers
are
able
to
efficiently
and
instantly
access
thousands
of
chains
by
interacting
with
one
application
instance.

Siddharth
Lalwani,
Co-Founder
and
CEO
of
Range
Protocol
shared,
“The
rise
of
modularity
powered
innovations
such
as
improved
throughput
and
reduced
transaction
costs.
However,
it
also
came
with
its
own
set
of
challenges,
most
notably,
application
fragmentation.
Skate
introduces
the
concept
of
the
Universal
Application
Layer,
where
essential
applications
are
developed
collectively,
and
maintained
in
a
shared
pool
accessible
to
all
chains.
This
ensures
foundational
needs
of
builders
and
users
are
met
efficiently,
allowing
each
chain
to
focus
on
creating
value-added
services
and
laying
the
building
blocks
for
a
modular
future.”

Move
from
Duplication
to
Innovation:
One
Skate,
One
State

Skate
is
the
only
intent-centric
application
layer
in
the
ecosystem,
enabling
applications
to
run
across
thousands
of
chains
and
different
tech
stacks
at
the
same
time
through
a
single
interface.
Moving
past
duplication
of
deployments,
Skate
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
the
embedding
of
interoperability
within
the
application
logic,
reversing
the
legacy
approach
of
building
apps
first
and
integrating
interoperability
afterwards.
Skate
ensures
that
all
applications
are
created
with
interoperability
as
a
foundational
component,
streamlining
the
development
process
and
removing
the
necessity
to
bridge
assets,
but
also
significantly
enhances
the
user
experience
by
providing
a
fluid,
interconnected
ecosystem
where
transactions
and
information
flow
effortlessly
between
chains.

Aside
from
the
underlying
interoperability
networks,
Skate
will
be
connected
to
all
the
blockchains
through
Fast
Finality
Network,
secured
by
EigenLayer
actively
validated
service
(AVS),
to
send
state
attestations
from
Skate
with
sufficient
trust
minimized
assumptions.
This
brings
instantaneous
cross-chain
intent-driven
settlements
and
reduces
slippage
when
making
trades
while
removing
unnecessary
complexities
from
an
end-user
perspective.

Securing
the
Modular
Future,
Backed
by
Web3
Pioneers

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.
Forged
by
the
same
team
of
financial
engineers
and
web3
developers
behind
Range
Protocol,
a
unified
liquidity
provisioning
platform
covering
key
DeFi
asset
classes,
the
Skate
team
brings
deep
cumulative
experience
from
leading
companies
like
Altonomy,
Point72,
Bybit,
Certik
and
Citigroup.
Skate’s
launch
also
follows
Range
Protocol’s
$3.75M
seed
round
last
year,
led
by
HashKey
Capital
and
Nomad
Capital.
In
the
coming
months,
Skate
aims
to
introduce
Testnet
Campaigns
to
community
members
with
unique
incentives.
To
keep
up
to
date
on
Skate
and
its
upcoming
testnet
campaigns,
make
sure
you
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

Underpinned
by
robust
on-chain
trading
infrastructure,
Range
Protocol
is
a
unified
liquidity
provisioning
platform.
Harnessing
advanced
expertise
and
professional
strategies,
Range
Protocol
covers
key
DeFi
asset
classes
through
its
vault
offerings.
Combining
the
best
of
automated
market
makers
(AMMs)
and
request-for-quote
(RFQ),
Range
Protocol
empowers
sound
decision-making
and
optimized
strategies
for
the
next
generation
of
investors
—
with
no
intermediaries
needed. 

Forged
by
a
team
of
financial
engineers
and
web3
developers
with
extensive
crypto
trading
proficiencies,
Range
Protocol
brings
deep
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.

Range
now
expands
into
Skate,
the
universal
application
layer
that
empowers
apps
to
run
on
1000s
of
chains
with
one
state.
Skate
was
born
with
the
realization
of
the
limitations
of
the
legacy
on-chain
trading
infrastructure,
which
deploys
repetitive
blocks
on
every
new
chain.
Underpinned
by
innovation,
Skate
delivers
fast
finality
across
all
chains,
secured
by
EigenLayer
actively
validated
service
(AVS),
and
acts
as
a
single
hub
for
all
code
deployments.
Separating
assets
from
pricing,
Skate
introduces
the
concept
of
a
Universal
Application
Scope,
where
essential
applications
are
developed
collectively
and
maintained
in
a
shared
pool
accessible
to
all
chains
—
regardless
of
its
underlying
Virtual
Machine
environment.
Solving
for
dApp/chain-liquidity
fragmentation
in
a
modular
web3
landscape,
Skate
ensures
foundational
needs
are
met
efficiently,
allowing
each
chain
to
focus
on
creating
unique,
value-added
services.

For
more
information,
please
visit:

Website:

http://skatechain.org/

Twitter/X:

https://twitter.com/skate_chain  

Contact

Skate
/
Range
Protocol
[email protected]