Another day... another airdrop that disappointed me! The Skate Foundation has unveiled the full tokenomics for SKATE, the native utility and governance token at the heart of Skate’s multi-VM infrastructure.
Skate is built to let decentralized applications run seamlessly across multiple blockchains—both EVM-compatible and alternative VMs—while also offering native access to VM-specific apps on other chains. Central to this is the Skate AMM, a multi-VM automated market maker with a unified liquidity curve spanning all supported chains.
SKATE powers every layer of the ecosystem. As a governance token, holders can stake to vote on key protocol decisions, like incentive allocation and parameter changes. The longer and larger the stake, the greater the influence, encouraging long-term alignment.
To fuel adoption and growth, SKATE offers deep ecosystem incentives. Liquidity providers are rewarded for supporting the AMM. Operators and restakers securing Skate’s EigenLayer AVS also earn SKATE, as the network builds in advanced features like slashing to strengthen security and reliability for cross-chain, stateless applications.
SKATE also incentivizes the creation of stateless apps across emerging altVMs. By serving as the reward layer for these developers, Skate ensures alignment with its AVS architecture, enabling true cross-chain deployment with shared liquidity and a unified user base.
Finally, community members who contribute to the network’s health and expansion will be eligible for SKATE rewards, making the ecosystem more participatory, sustainable, and vibrant for everyone involved.
There was a 30% bonus on your airdrop if you claim and stake. Those that have been using the testnet or part of the Eigenlayer Skate community are probably going to cook.
By staking, you become an integral part of securing the Eigen Layer AVS, directly contributing to the economic trust and robustness of our cross-chain interactions.
This active participation is crucial for the vision to making Skate's infrastructure truly feature-complete, especially as we introduce advanced capabilities like slashing.
Apparently my decision to claim and stake was an act of alignment, empowering the very foundation upon which stateless applications will seamlessly operate across all blockchain ecosystems.
Why I felt betrayed? I was available to claim 215.79 $SKATE from the 30 bps to early yappers and 15 bps for referrers. It sucks to claim $16 worth of crypto and pay $5.43 as mainnet fees! Securing the Eigen Layer sucks hard!
Basically I paid a third of my drop in fees, not financially efficient! I feel betrayed because I was yapping about it since early days, and because I referred a few friens that used the AMM on Solana!
There's a handful of people that I know they used to swap several $SOL on Skate, plus the ones I don't know about it! It's hard to track those that used the AMM from the link in my article, because SKATE doesn't have a referral dashboard!
Not sure if volume counted but me alone swapped $200 worth of crypto over there, and all that to receive crypto that will last for two Starbucks grande Frappuccino! And I choose to stake them... not even spend them!
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