Skate Price

SKATE is the native utility and governance token of SkateChain, a universal application layer designed to connect all virtual machines (VMs) across multiple blockchains. This infrastructure enables users to interact seamlessly with decentralized applications (dApps) from their preferred chains, whether it's Ethereum, Solana, TON, or others. By maintaining a single shared state, SkateChain eliminates fragmentation, allowing applications to operate across thousands of chains simultaneously. SKATE plays a pivotal role in this ecosystem, facilitating transaction coordination, protocol governance, and incentivization mechanisms that reward participants contributing to network security and application development.

SkateChain employs a hub-and-spoke architecture, where the SKATE hub chain maintains a shared state, and peripheral chains (the spokes) consume data from this hub. Users initiate transactions by signing "intents," which are then matched and executed in real-time using technologies like EigenLayer for faster finality. This design introduces "stateless apps," meaning applications don't store data locally on individual chains but rely on the hub's shared state pool. Consequently, a single dApp deployment can run on multiple chains simultaneously, providing a unified user interface regardless of the underlying VM. This approach reduces state duplication, minimizes cross-chain complexity, and ensures faster on-chain interactions with lower gas costs.

SkateChain was founded in 2023, initially operating under the name Range Protocol before rebranding to better reflect its mission of creating a universal application layer. The project focused on developing its hub-and-spoke architecture to synchronize multiple VMs. A significant milestone was achieved in mid-2023 with the introduction of the "Stateless App" paradigm, successfully demonstrated across numerous chains. Following this, SkateChain announced its tokenomics and officially released the SKATE token to the community in early 2024, marking its readiness for public participation and governance. The project has garnered support from notable investors, including HashKey Capital and Nomad Capital, and continues to expand its ecosystem and developer support.

The SKATE token serves multiple functions within the SkateChain ecosystem:

Governance: SKATE holders can propose and vote on protocol upgrades, parameter changes, and network-wide decisions, ensuring community-driven development.

Staking & Security: By staking SKATE, participants help validate signed intents and maintain the shared state, earning protocol fees as rewards and contributing to network security.

Incentives & Rewards: Users accumulate "Ollies" (on-chain reputation points) by engaging in Skatepark activities, such as minting NFTs and completing tasks. Ollies can be converted into SKATE tokens during airdrop distributions or redeemed for additional benefits.

Access to Features: Holding SKATE unlocks access to exclusive dApps, early drops of new stateless apps, and reduced fees within the Skatepark ecosystem.

Overall, SKATE aligns economic incentives to encourage active participation, developer collaboration, and long-term ecosystem growth.

There are several ways to earn SKATE tokens:

Skatepark Tasks: Engage in activities like minting Skateboard NFTs, completing social media tasks, and participating in Zealy quests to earn Ollies points, which can be converted into SKATE tokens.

Staking SKATE: Delegate your SKATE tokens to validator nodes or AI-driven signed intent tasks within the network to earn a share of protocol rewards and contribute to state finality.

Participation in Governance: Vote on proposals or contribute to the project's development. Active governance participants may receive discretionary SKATE grants during community growth phases.

Liquidity Provision: Supply SKATE-paired liquidity on the Skate AMM or partner decentralized exchanges to receive fees and token incentives aimed at bootstrapping early liquidity pools.

By combining these activities, users can steadily accumulate SKATE tokens and deepen their engagement within the SkateChain ecosystem.

SKATE has a capped total supply of 1 billion tokens, allocated as follows:

Community & Ecosystem (12%): Initial distribution to early participants, community bounties, and partner incentives.

Staking & Incentives (40%): Reserved for rewarding stakers, validators, and protocol guardians who secure the shared state.

Team & Advisors (15%): Subject to a 24-month cliff and subsequent linear vesting over 12 months to ensure alignment with the project's long-term vision.

Investors (20%): Tokens sold during private and seed rounds to fund initial development and growth.

Reserve & Partnerships (13%): Held by the protocol treasury for ecosystem grants, strategic partnerships, and future innovation funds.

This tokenomics structure balances early incentives with long-term sustainability, aiming to foster a decentralized governance model and robust security.

To claim SKATE tokens through the airdrop:

Connect Your Wallet to Skatepark: Visit the Skatepark airdrop page and connect a compatible wallet (e.g., MetaMask).

Accumulate Ollies Points: Engage in activities like minting Skateboard NFTs, completing social tasks, and participating in Zealy and Galxe quests to earn Ollies points.

Verify Eligibility & Claim: Once you have sufficient Ollies, the airdrop page will display your claimable SKATE amount. Click "Claim" and sign the transaction to receive tokens directly to your wallet.

Stay Updated: Follow official channels for announcements about additional qualification windows or bonus Ollies tasks.

By actively participating in these community-driven activities, users can maximize their SKATE claim and support SkateChain’s multi-VM ecosystem.