KuCoin AMA With Skate (SKATE) — The Future of Cross-Chain Applications Through a Unified State Layer

Dear KuCoin Users,

 

Time: June 12, 2025, 10:00 AM - 12:09 PM

KuCoin recently hosted an AMA (Ask Me Anything) session in the KuCoin Exchange Group, featuring Siddarth Lahlwani, Co-Founder and CEO of Skate.

Official Website: https://www.skatechain.org/

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Siddarth: With Skate, we are building an infrastructure that lets web3 apps run seamlessly across multiple blockchains (like Solana, TON, and more) without being tied to a single network. It keeps the app’s core logic consistent everywhere, just like how apps like Instagram work the same on different devices. like Android, iPhone, Windows , Mac etc.

So you can imagine a single app, to be on Solana, Sui, Base, Hyperliquid, all at the same time.

Q: How is Skate AMM different from other AMMs?

Siddarth: The key differentiator is Skate AMM enables a single liquidity pool on every chain. So unlike needing to go to Uniswap on Ethereum, Raydium for Solana etc. Skate AMM will have a shared pool on every ecosystem.

I can break it down into 3 key features of Skate AMM:

 

1. Unified liquidity: Unlike traditional AMMs, which silo liquidity and pricing per chain, Skate aggregates liquidity from all supported blockchains into a single, global pool with one canonical price. This means every trade, on any chain benefits from the deepest liquidity possible and minimal slippage.⁠⁠

2. Stateless architecture: Skate separates token custody (kept on local chains) from the AMM’s global state (managed centrally). This resolves fragmentation and lets users and LPs interact with DeFi on their chain of choice, while the protocol keeps everything in sync.⁠⁠⁠⁠

3. Lower toxic flow: By eliminating local price discrepancies, Skate reduces arbitrage opportunities that drain liquidity provider profits, creating a more sustainable market for all participants.⁠⁠⁠⁠

Q: Which ecosystems is Skate live on, and where is it headed next?

Siddarth: Skate is already powering liquidity on Solana, Eclipse and EVM L2s like Base, Arbitrum, showing true multichain reach and composability.⁠⁠⁠⁠⁠⁠ We will soon be going live on Sui and Aptos, and MoveVM would be third VM stack we would be supporting. Aside from Skate Amm, there are many other teams building on top of Skate. More announcements regarding that soon.

 

 

Q: What does “Stateless Apps” mean, and why does it matter?

Siddarth: Stateless Apps separate the smart contract’s “brain” from the “hands”, meaning core logic runs centrally while users interact from any chain. Apps behave like cloud software, not stuck on any one chain, with consistent state and logic everywhere.⁠⁠ So when you interact from Solana or EVM or Sui, it feels like their native app.

 

 

Q: What’s the big deal about unified liquidity?

 

Siddarth: You no longer need to bridge assets or pick the “best” chain for a swap. Thanks to a single liquidity and pricing pool, every supported chain benefits from the same pool depth and best-available price.⁠⁠ This unlocks deeper liquidity for DeFi, reduces inefficiency, and makes bootstrapping new markets on any chain much easier.⁠⁠

Q: Who benefits from Skate’s approach?

 

Siddarth: For regular users: Enjoy seamlessly defi apps on their favorite chain with better liquidity, greater security, and no extra steps. Liquidity providers: LPs don’t need to fragment their assets, manage positions separately, or fear cross-chain arbitrage draining their earnings.⁠⁠ Project teams: Can tap deep, cross-chain liquidity from day one, bootstrapping their tokens in multiple ecosystems with a single integration.

Q: How does EigenLayer power Skate’s cross-chain security?

 

Siddarth: EigenLayer provides the “economic trust backbone” for Skate. When you use a dApp on any chain via Skate, all cross-chain interactions are attested by Skate's EigenLayer AVS operators, who secure the network using restaked ETH and other assets.

This means when user intents are submitted, they're processed securely and verifiably, even across totally different blockchains. Soon, Developers can dial up or down how much “economic trust” they require, tailoring security to their specific needs.⁠⁠

And recently, Skate became one of the first AVSes on EigenLayer to provide actual, protocol-level revenue to restakers, aligned directly with on-chain activity, not just emissions.⁠

Free-Ask from the KuCoin Community to Skate

Q: Will users need to bridge assets manually to access cross-chain liquidity on SKATE AMM?

Siddarth: No. Users don’t need to bridge manually. Skate abstracts cross-chain interactions through its stateless app infrastructure. You trade or use apps natively from your source chain, as if that app is deployed on that chain, and Skate handles settlement trustlessly, secured with our Eigenlayer AVS.

So far, people see interoperability as just bridging of assets. Skate changes that by introducing app level interoperability, where we make a single app run across every chain.

Q: How does Skate handle security across multiple chains?

Siddarth: Skate uses an EigenLayer AVS to validate cross-chain actions.

Each interaction is attested before settlement, ensuring economic trust without relying on centralized relayers or custodians.

Aside from that, there are always smart contract risks. We are working with multiple audit firms and that's the reason why we have taken a cautious approach in Skate AMM phased launch. Soon we will have the full launch.

 

 

Q: What are the incentives for skaters to adopt Skate over other platforms or currencies?

Siddarth: Our community benefits from seamless access to liquidity across ecosystems (EVM, Solana, Sui, etc.). And the stateless app design pattern is overall a superior design pattern as our token stakers will earn revenue from network activity coming from all blockchains. Just taking into account the Skate AMM, the addressable market is the cumulative revenue of all AMMs across blockchains combined.

Q: Do you have any plans to burn in the future to reduce the supply of #SKATE tokens and increase investment attraction? If yes, please share?

Siddarth: There is no mechanism for burning of tokens but yes, we just announced buyback of tokens from the protocol revenue and then redistribution of the revenue towards the token stakers.

In terms of protocol revenue:

1. 1/3rd of Skate AMM Trading Fees

2. Skatechain's Sequencer Revenue - Revenue coming from intents on all chains, towards the Skate AMM.

 

Q: With the Skatepark airdrop rewarding ‘Ollies’ and the upcoming launch of the Skate AMM, how are you balancing incentives between early adopters and long-term liquidity providers? Will rewards evolve once AMM goes live to maintain engagement?

Siddarth: Yes, we recently put out an article sharing some details regarding upcoming season 2. Rest, ollies and Skatepark were part of our season 1 campaign. We will redesign the structure now that we have recently had our TGE.

Early July, we will have a full launch of Skate Amm. That's when people would be able to add/remove liquidity. That's when revenue is expected to go exponential.

 

 

Q: What’s the most exciting upcoming feature or milestone on your roadmap that you can tease for us?

 

Siddarth: Few major things are coming on our roadmap.

1. Skate AMM integrations with aggregators like Jupiter

2. Skate AMM is going live on Sui soon.

And Season 2 started with major revenue distribution. Over 50k worth of revenue would be distributed to SKATE stakers on our AVS. The current APY multiple for it is crazy high.

 

Q: How does $SKATE ensure scalability and maintain optimal performance as network activity increases, especially during peak trading hours or major token launches?

 

Siddarth: There are tons of optimizations we have done over the course of our development timeline.

1. Batching of intents from different ecosystems while execution.
2. Optimization of P2P communication layer with Othentic for attestation of tasks on the AVS.
3. We recently had a major restructure of our codebase to support low latency ecosystems like Solana, Monad etc.

Q: Can you tell us more about the background and experience of the people behind your project? What makes them uniquely qualified to develop and manage this project?

 

Siddarth: We come from prior background in trading and market making operations and we see this major efficiency in defi in the current multi-blockchain world. Skate is an honest effort to solve that.

We started off this project with a focus on Liquidity Management on top of AMMs. But after a while when there were so many L2s coming up, we understood that no matter how much we try to optimize the liquidity, the biggest limitation is that we have to do it independently on every chain. That's where Skate began.

Q: Skate’s vision is to enable stateless apps with a unified application state across multiple VMs and chains. Looking ahead, what are the most significant technical or regulatory challenges you anticipate in scaling from 20+ integrated chains today to supporting hundreds (including emerging VMs like MoveVM), and how do you plan to tackle issues like ecosystem coordination, compliance, and ensuring security and UX consistency as you expand?

 

Siddarth: There are three main challenges as i see it:

1. Technical fragmentation

Each VM has unique signature schemes, gas models, and execution semantics. We abstract this through our periphery–kernel architecture, where only user interaction logic is VM-specific, while core app logic stays unified on Skate’s hub chain. That's where a key complexity lies that we have to build across different blockchains.

 

2. Ecosystem coordination & compliance: As jurisdictions evolve, we modularize compliance, keeping execution logic and asset custody decentralized.

3. Security: Our AVS on EigenLayer attests cross-chain interactions before settlement, ensuring economic trust without centralized custodians. It is still a novel design and getting it robust will take some time.

All these actually cumulatively affect the key issue we are solving for, that is the UX consistency, across blockchain VMs.

Q: Why did Skate choose KuCoin as one of its listing partners? Are there any special rewards or airdrops planned exclusively for KuCoin users?

 

Siddarth: Yes, being active users of Kucoin ourselves, we really like the overall UX of trading here. Right from our TGE and Airdrop distribution, our community had a really smooth experience with pre deposits into Kucoin. Aside from it, there is a great gempool opportunity on Kucoin to earn more SKATE.

 

 
Q: Skate stakers may become eligible for EigenLayer rewards. Could you explain how that integration works in practice, and what the timeline looks like for AVS-based incentive distribution?

 

Siddarth: We will be having an announcement regarding EIGEN incentives rolling out towards our AVS. It would be on top of protocol revenue for the SKATE stakers.

 

 
Q: The Pre-Boost model introduces time-weighted multipliers for early $SKATE stakers. Can you explain how this system will interact with Season 2 airdrops and ecosystem incentives? Will higher multipliers translate directly into better allocations?

Siddarth: Yes, the pre-boost will offer a significant multiplier to future revenue distribution.

 

 
Q: How does Skate plan to onboard developers and support them in building stateless apps across multiple chains?

 

Siddarth: We are working on a detailed documentation and will have a seamless MCP integration for it, where people can vibe code on top of our architecture.

 

Q: What is the background of your project? What are your top 3 priorities for 2025? And what are your plans for this year?

 

Siddarth:  1. Expanding Skate AMM to new ecosystems and its full launch.

2. Getting more stateless apps to run on top of Skate.

3. Increasing protocol revenue.

Q: Do you have [an] AUDIT certificate or are you working to AUDIT your project, so that the security of the project becomes more secure and reliable?

 

Siddarth: We are undergoing our initial audits with Nethermind and a few independent researchers. Post that, there will be bounty programs ongoing on platforms like ImmuneFi etc.

 

 

KuCoin and Skate have prepared a total of 30,000 SKATE to give away to AMA participants.

 

1. Pre-AMA activity: 11,000 SKATE

2. Free-ask section (Main group): 750 SKATE

3. Free-ask section (Other groups): 1,480 SKATE

3. Flash mini-game: 4,500 SKATE

4. Post-AMA quiz: 12,270 SKATE

 

Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.

 

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