As 2024 winds down, we wanted to take some time to reflect on the year and summarize what we have been building at Skate over the past year.
Our mission has always been clear: Connect all VMs. Everyday, we move closer to our goal of Stateless Apps that run on all VMs and chains with one shared state.
Here’s a look at some of the highlights of the year and a sneak peek at 2025.
The Genesis of Skate: April 2024
In 2023, our journey began with building Range Protocol, an on-chain asset management platform that we rapidly scaled to a TVL of $35M across more than 15 EVM chains. However, this expansion exposed us to the widespread issue of application fragmentation — every new chain integration required more development resources, additional liquidity, and further audits.
These escalating demands quickly proved unsustainable. At the same time, new alternative VM chains started emerging and we found ourselves sidelined alongside many other EVM apps.
In April 2024, we took action by launching Skate, a dedicated infrastructure layer created specifically to tackle the issue of application fragmentation — a challenge we had become all too familiar with.
Concurrently, Range was rebranded to SkateFi, and repositioned to align with and advance our broader vision: to eliminate liquidity fragmentation from a DeFi perspective.
SkatePark Opens: April 2024
Shortly after announcing the launch of Skate, we launched the “SkatePark”: a place for users to interact with the Skate ecosystem of apps and earn Ollies points. Our first campaign on Skatepark received tremendous interest as 814000 users participated to mint a Skate Rebel NFT on our Nollie Testnet.
Skateboard Workshop on Nollie Testnet: August 2024
Our first major milestone came with the launch of our Testnet app, “Skateboard Workshop.” This app allowed users to mint and assemble NFTs seamlessly across 20 chains and multiple VMs including the EVM, SVM, and TonVM. Demonstrating true composability, users could mint different parts of their skateboard NFT on different VM chains — such as Solana, TON, and Base — and then assemble a complete NFT using parts from each chain.
The app was a resounding success, with nearly 6 million parts minted across 20+ chains, illustrating the potential of operating an application simultaneously across multiple VMs. This not only stress-tested our infrastructure but also highlighted the improved UX of apps on Skate.
Mainnet Live: October 2024
In October 2024, we launched Skate Mainnet, another significant milestone in our mission to solve application fragmentation across all VMs and chains. Mainnet launch included the following:
- Skate Hub Chain live on Mainnet
- Preconfirmation AVS live on EigenLayer Mainnet
- Polymarket App live on TON Mainnet
Our Skate Hub Chain is an Ethereum L2 that serves as the central processing unit of all the apps the Skate enables on other altVMs. The Hub Chain maintains the unified state and core logic across all connected chains and VMs. The Skate Hub Chain was launched with the help of Alt Layer and with the dual data availability strengths of Avail and EigenDA.
Our preconfirmation AVS went live on the Eigenlayer Mainnet and was developed with Othentic’s tech stack. This component verifies all outgoing task data, ensuring secure and fast finality for operations across Skate’s platform.
Polymarket on TON: October 2024
In just under 6 months, we had our first Eureka moment. Polymarket was one of the breakout apps of 2024 leading up to the US elections. However, Polymarket is an EVM app that only exists on Polygon.
In 2024 TON and Telegram mini-apps also saw a huge influx of activity as Telegram served as a superior onboarding experience for a new generation of crypto users. Leading up to the US elections, we wanted to enable the millions of users on TON to be able to bet on Polymarket
In October, we announced that we had successfully brought access to Polymarket, an EVM app on Polygon, to the TonVM through Skate’s infrastructure. This meant that users on TON could use our Telegram Miniapp and directly place bets on Polygon prediction markets on Polygon. All without bridging. Truly seamless.
Since launch, we have have seen over 8000 orders totalling $1,162,387 USD in volume on TON.
Polymarket enabled on SVM on Eclipse: December 2024
Shortly after the success of enabling Polymarket on TON, we quickly set our sights on the SVM. Eclipse, Ethereum’s first SVM L2 was quickly gaining traction and we decided to bring access to Polymarket to users on Eclipse.
Since launching 3 weeks ago, we have seen over 14.6k trades with around $782.9k USD in volume.
Much more to come on Eclipse and the SVM soon.
What’s next for 2025?
The Skate team is incredibly optimistic about the potential of altVMs going into 2025. The rise of SolanaVM, TonVM, MoveVM and others is bringing a new multichain primitive but at the cost of increased fragmentation for users and developers alike.
At Skate, we are focused on ending application fragmentation and connecting all VMs via a 2-phased approach.
Phase 1 involves enabling access to mature EVM apps to users on altVM chains like Solana, TON, Eclipse and Movement. Polymarket on the TonVM and SVM is only the beginning. Look forward to many more of your favorite bluechip apps being powered by Skate in 2025.
Phase 2 is the endgame. Apps with one single state across every chain, and every VM. We call these stateless apps. And there’s one in particular that we are already working on to redefine DeFi.
Introducing the Skate AMM
Our upcoming flagship product, Skate AMM, is designed to elevate the native user experience across chains and VMs by introducing a revolutionary pricing and liquidity model.
Built on Skate’s core design principles of composability and single application state, the Skate AMM leverages an aggregated bitmap that delivers a single, unified price across all connected chains. This pricing mechanism mirrors the proven structure of a Uniswap V3 pool, yet extends beyond single-chain limitations to provide a truly cross-chain liquidity experience.
Closing
Looking forward to 2025, we are excited to expand the number of bluechip EVM apps we bring to altVMs and continue on our mission to connect all VMs. At the same time, we will be working tirelessly to bring Phase 2 of our vision to life starting with our flagship Skate AMM app.
We wanted to extend a warm thank you to everyone in our community who has supported us. We can’t wait to show you what we have in store for next year. Furthermore, we wanted to thank all our partners for their ongoing support and engagement. Especially: @eigenlayer @alt_layer @AvailProject @eigen_da @PythNetwork @0xOthentic @0xmantle @EclipseFND @vertex_protocol and many others.
2025 will be the year of Skate.
