Skate Network unlocks significant potential by allowing for assets to flow between any network with near-instant finality, with a wide variety of use cases for industries including GameFi, SocialFi, and new DeFi primitives such as CYTs on Pendle.

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GameFi

There is currently a wide range of fragmented gaming ecosystems, such as games building on Solana (non-EVM), Arbitrum (EVM), or custom-purpose gaming networks (e.g. Flow).

Skate unifies assets and data between ecosystems to improve Web3 gaming, including: significantly

  • New Gaming Experiences: Assets from one ecosystem (e.g. EVM’s Axie Infinity) can be used in other ecosystems (e.g. Solana’s Star Atlas).
  • Lending: Items could be lent out cross-chain for yield.
  • Cross-chain games & betting: Cross-chain battles and wagers.

Given that it’s so simple for a project to launch using Skate and immediately benefit, we plan

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SocialFi

Users can access SocialFi platforms in any ecosystem while remaining on their favorite network. interacting with others seamlessly by paying an extra fee to the solver.

Examples of this could include:

  • Fee Payment: Pay any subscription fee using any network and token (instant swaps can be integrated).
  • DID Integration: One could use SocialFi on Solana, with their Lens Protocol ID from Polygon, and other on-chain credentials from any other network.

Cross-chain reputation: One’s score, points, historical posts, and more could all be shared across networks. For example, if a new custom-purpose L3 were launched in the EVM, any non-EVM ecosystem could have all relevant flow there instantly.

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NFT-Fi

NFTFi is a rapidly growing sector where users can use their NFTs in various financial activities, including:

  • NFT Lending and Borrowing: Platforms allow users to borrow cryptocurrencies or stablecoins using their NFTs as collateral. This can provide liquidity to NFT holders without having to sell their assets.
  • Fractional Ownership: NFTFi platforms enable the fractionalization of NFTs, allowing multiple investors to own a portion of a single high-value NFT. This democratizes access to expensive NFTs and diversifies investment opportunities.
  • NFT Derivatives: Futures and options contracts based on NFTs, allowing for leverage and hedging strategies.

Other examples include staking, index funds, marketplaces, and insurance for NFTs.

Skate brings NFTFi to 1,000+ networks.

An example of this could include using one’s Solana-based NFT as collateral for a loan on any other connected network, such as an EVM-based network (e.g. Ethereum or Arbitrum) or a MoveVM-based network (e.g. Sui or Aptos). Alternatively, NFT derivatives could have their liquidity consolidated, with it possible to open positions on an NFT collection from any given chain.

NFT projects can leverage Skate for unified liquidity, fast transaction speeds, and no bridging risks. This is also needed to make it easy for NFT communities to communicate with one another, which will be increasingly important as the range of NFT use cases expands (e.g. NFT tickets, token-gated memberships, and so on).

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Crosschain DeFi

Beyond interoperable DEXs and NFTFi, many other DeFi-related activities are possible.

This could include investing in token launches across any platform, such as using funds on Arbitrum to participate in a launchpad on Solana or Sui. Alternatively, any yield optimizer that launches on Skate would allow users to maximize their yields without having to change networks at all.

While other projects have invested significant efforts into developing interoperable DeFi solutions across a single vertical (e.g. DEX aggregators), Skate allows for projects across any vertical to quickly launch on Skate and seamlessly connect to any other network.

Two interesting examples include:

  1. Leverage Loops

Users could take their restaking yields (e.g. from EtherFi) and have the yield deployed elsewhere, with profits used to accumulate more liquidity rewards.

For example, yield could be taken to a website like GetGrass.AI to contribute towards decentralized AI compute resources for profit. This yield could then acquire additional EtherFi rewards, creating a form of reinvestment loop. This could also be used for other forms of investment loops beyond just AI, identifying yield potential that is reinvested through various cross-chain investment strategies.

  1. Composite Yield Tokens

Skate can create a new Composite Yield Token (CYT) that’s a blend between restaking rewards of EtherFi’s LRT with both Jito’s liquid staking yield on Solana as well as similar tokens across any other EVM or non-EVM network.

This token could be used as collateral for external networks, such as on Aptos or other non-EVM networks.

Interoperable DEX