Stargate Finance has introduced that SKATE (the Skate token) is now reside on its revolutionary protocol on the core of the Omnichain DeFi motion.
SKATE is the native token that powers Skate’s multi-VM infrastructure – a venture that goals to dismantle the technical obstacles between varied digital machines like EVM, Toncoin, Solana, and plenty of extra, creating a unified multi-chain execution ecosystem.
However, Stargate Finance is a cryptocurrency bridge primarily based on LayerZero infrastructure, which allows the motion of property between varied chains effectively and securely. It hyperlinks Layer-1 and Layer-2 chains, addressing one of the 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 gasoline). 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) commonplace to facilitate multi-chain transfers.
In contrast to conventional bridges that usually wrap tokens (producing an IOU token on the meant blockchain), the OFT commonplace 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 can additionally make sure that SKATE cash should 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 ready 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 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 functions.
Secondly, the “zero slippage” and no “switch charges” pledges to create a more cost effective and environment friendly consumer expertise. This eliminates widespread challenges related to conventional cross-chain transfers, selling broader use and adoption of STAKE.
Moreover, the OFT commonplace allows 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 outstanding chains, it might take part in a broader number of DeFi platforms and yield-generating alternatives. That is set to create new gateways for utility and worth addition for STAKE token holders.
Lastly, leveraging the LayerZero OFT commonplace locations STAKE for better interoperability as LayerZero continues to widen its supported blockchains. This ensures the asset stays accessible and related within the step by step increasing cross-chain DeFi panorama.
