Stargate Finance has introduced that SKATE (the Skate token) is now reside on its modern protocol on the core of the Omnichain DeFi motion.
SKATE is the native token that powers Skate’s multi-VM infrastructure – a undertaking that goals to dismantle the technical obstacles between varied digital machines like EVM, Toncoin, Solana, and plenty of extra, growing a unified multi-chain execution ecosystem.
However, Stargate Finance is a cryptocurrency bridge based mostly on LayerZero infrastructure, which permits the motion of belongings between varied chains effectively and securely. It hyperlinks Layer-1 and Layer-2 chains, addressing one of the vital problematic challenges within the DeFi panorama: inter-chain liquidity.
SKATE is reside on Stargate.$SKATE has adopted the OFT Customary by @LayerZero_Core. Now you can transfer SKATE between Solana, BNB Chain, Arbitrum and Ethereum.
No switch charges (solely fuel). Zero slippage.
The Stargate Customary. https://t.co/oI8b4wjvJ0 pic.twitter.com/nKFWjly7nW
— Stargate (@StargateFinance) June 9, 2025
Why STAKE tapped Stargate’s LayerZero
The center of this integration lies in STAKE leveraging Stargate’s LayerZero’s OFT (Omnichain Fungible token) customary to facilitate multi-chain transfers.
Not like conventional bridges that usually wrap tokens (producing an IOU token on the meant blockchain), the OFT customary gives a extra superior strategy. This native strategy transfers, burns tokens, and mints equal quantities of tokens to the vacation spot chains with out fragmentations related to conventional bridges.
This strategy will effectively keep STAKE’s provide throughout built-in blockchains. It would additionally make sure that SKATE cash are usually not held or wrapped in liquidity swimming pools on middleman blockchains, resulting in “zero slippage” and no “switch charges,” as highlighted within the report.
Enabling cross-chain bridging of STAKE tokens
This integration is essential for the STAKE crypto asset and the broader DeFi ecosystem. First, the combination is about to enhance SKATE’s accessibility and liquidity. By enabling STAKE to seamlessly transfer between a number of blockchains, together with Ethereum, Arbitrum, BSC community, Solana, and others, the combination massively will increase the token’s liquidity. By way of this interoperability, customers are now not restricted to utilizing a single ecosystem, enabling to them use, lend, stake, and commerce the STAKE token seamlessly throughout all kinds of DeFi purposes.
Secondly, the “zero slippage” and no “switch charges” pledges to create a less expensive and environment friendly consumer expertise. This eliminates frequent challenges related to conventional cross-chain transfers, selling broader use and adoption of STAKE.
Moreover, the OFT customary permits STAKE’s unified provide throughout all blockchains. This removes issues and potential challenges related to wrapped tokens and fragmented liquidity, powering a stronger and extra predictable asset for customers and builders.
Final however not least, with STAKE’s availability on quite a few distinguished chains, it may well take part in a broader number of DeFi platforms and yield-generating alternatives. That is set to create new gateways for software and worth addition for STAKE token holders.
Lastly, leveraging the LayerZero OFT customary locations STAKE for larger interoperability as LayerZero continues to widen its supported blockchains. This ensures the asset stays accessible and related within the steadily increasing cross-chain DeFi panorama.
