Announcing Skate’s Execution Network: Paving the Way for Trillions in Cross-VM Settlements

Today, we’re excited to announce that leading DeFi trading desks and liquidity providers, collectively having managed trillions in on-chain volume, will be joining Skate’s Execution Network.

Tokka Labs, Selini, Flowdesk, Herring Global and Caladan.

DeFi innovations often remain confined to a single chain, limiting their addressable market to whichever user base exists on that chain. At Skate, we believe these breakthroughs deserve universal reach — spanning multiple VMs, with frictionless settlement and deep liquidity. Building on our recent integration with Polymarket, which settled $7.5 million in one week across Eclipse (SolanaVM) and TON, we’re now prepared to scale to more capital intensive usecases like yield tokenization, cross-VM DeFi protocols, RWA products and beyond.

Skate’s Execution Network: Your Cross-VM Clearinghouse for Next-Gen DeFi

Skate’s Execution Network is a universal settlement layer that eliminates the complexities of bridging and multi-chain interaction. It’s an integral part of our tech stack that will help us achieve our vision of connecting all VMs.

Instead of forcing users to bridge or manage multiple wallets, Skate captures “intents” on any chain — be it EVMs, SolanaVMs, Move, SUI, or TON — and routes them to professional Executors who finalize transactions behind the scenes. This gasless, slash-protected model, soon enhanced by Eigenlayer restaking, ensures trust and security at scale.

Whether it’s yield tokenization or advanced DeFi trades, a single click in Skate’s ecosystem can tap liquidity and settle across multiple VMs without any friction.

Polymarket on altVMs: Just the Tip of the Iceberg

Our integration with Polymarket demonstrated Skate’s potential:

• $7.5 Million Settled mostly in a single week — showcasing how cross-VM trading can attract robust volume.
• No Bridging Hassles — Traders on TON and Eclipse had zero need for extra wallets or asset migration.
• Minimal Inventory, Big Impact — The Polymarket settlements were handled by one single internal executor, operating with an average inventory of just $60k. Now imagine the addressable market and liquidity thresholds when major trading desks contribute their capital.

This is only a sliver of what’s possible when DeFi can move seamlessly across chains spanning every VM like EVM, SVM, TonVM, MoveVM, and more — free of bridging complexity.

The Potential of RWAs: Yield Tokenization & Beyond

According to RWA Market Metrics from the Tokenized Asset Coalition (TAC) report for 2024:

• Projected $30 Trillion by 2034, driven by broader regulatory clarity, institutional acceptance, and technological improvements.
• $186 Billion in tokenized assets overall, up 32% YTD; growth climbs to 53% if stablecoins are excluded.
• Dominance of Stablecoins: Represent 91.4% of the market share, with a cap of $174.6 billion.
• Private Credit: Over $8.93 billion (+40% YTD).
• Short-Term US Government Debt: Soared to $2.15 billion (+179% YTD), a strong sign of institutional appetite.

Source: State of Asset Tokenization 2024 (RWA.xyz)

Despite these promising figures, most RWA activity exists primarily on EVM-based chains today. Skate is determined to expand those benefits to altVMs, opening up a vast global market for RWA and yield tokenization opportunities.

Why It Matters

• LSD Yields & Tokenized Strategies: Protocols offering LSD vaults or stablecoin yields can now extend effortlessly to altVM ecosystems like Solana, TON, Sui, Eclipse, and Movement without forcing users to manage extra wallets or bridging steps.
• Advanced DeFi Apps: From sophisticated yield-aggregation to undercollateralized lending, cross-chain synergy becomes a single-click operation, expanding the total addressable market for each application.

Scaling to Trillions

Now that top trading desks — collectively responsible for billions in liquidity — are joining Skate’s Execution Network, we expect:

• Deep Cross-Chain Execution: Large swaps, hedging, and complex strategies settled swiftly and economically.
• Arbitrage & Efficiency: Major desks continuously rebalance and compete across VMs, leading to tighter spreads and competitive markets.
• Professionalized On-Chain Markets: Institutional-grade capital meets slash-based AVS (Active Validator Set) security, raising overall confidence and reliability.

With cross-VM DeFi rapidly advancing, we see trillions in potential future activity as:

• Institutional Players find a slash-secured environment ideal for operating advanced strategies at scale.
• Tokenized Assets (RWA, stablecoins, LSD yields) proliferate across multiple chains and beyond the EVM.
• DeFi Protocols unify their user bases, bridging liquidity across diverse VMs through Skate’s single pipeline.

Final Word

From a single $7.5 million Polymarket pilot — accomplished with a modest $60k executor inventory — to a vision of trillion-dollar multi-VM markets, Skate is clearing the path for boundary-free DeFi. With major trading desks joining our Execution Network, yield deposits, tokenized asset strategies, and cross-chain swaps can all be done in one click, minus bridging complications.

Keep an eye out for our upcoming spot liquidity innovation, which promises to push our frictionless model to new heights. If you’re a protocol, liquidity provider, or institution ready to shape the next era of multi-chain finance, we invite you to join Skate’s Execution Network — the gateway to unstoppable DeFi growth.