Key Use Cases Span DeFi, Distributed Marketplaces, Real World Asset Tokenization, Investor Communities, Accountless NFT & Token transfers, Social Media and More Bringing the First Multichain Network to Life

San Francisco, California — July 29, 2021 SKALE Network, the multichain network of unlimited Ethereum blockchains for powering Web 3 today announced a strategic roll out of the first dApps to go live on Mainnet. The release of the SKALE IMA bridge now enables applications to leverage the speed, security, and performance of SKALE in concert with Ethereum. The first dApps were hand selected out of hundreds based on merit, performance, and their specific use cases. These applications will pave the way for hundreds which are already signed up in the SKALE Innovator Program to go live over the coming months.

Initial Launch Partners include Boot.Finance, Covey, CurioDAO, Human Protocol, Ivy and Minds. All of which will be releasing their Dapps and protocols onto SKALE chains this summer. These new Dapps will increase SKALE’s user base to millions of users across the globe jointly.

Each of the Dapps and protocols announced today will be using their own application specific SKALE chains, giving life to the first truly decentralized internet of blockchains. SKALE is a multichain network composed of an unlimited number of secure, decentralized, high-performance Ethereum Blockchains purpose-built to bring Web3 to billions of users. SKALE’s pooled security model enables speed, security, and decentralization to work in harmony, allowing developers to deliver an amazing user experience to end users void of any gas fees or latency.  

"We are very excited to partner and launch on Skale Network and see it as one of the most innovative and powerful L2 scaling solutions in the current ecosystem. The technology is further ahead than anything else we have seen in the market, and the team seems to have been focussed on building and staying focussed under the radar vs making a lot of unnecessary noise." - A Boot.Finance core contributor

“To find the best investors, Covey records trade data for every investor on an immutable ledger open to anyone, we started on Ethereum but high transaction costs made this unfeasible,” said Brooker Belcourt, founder of Covey. “We knew we needed a scalability solution and SKALE offered us precisely what we needed at a reasonable cost, with remarkable speed, and a connection back to Ethereum. We’re very excited to go live, join our covey.io/open community to create a virtual portfolio, share your performance, and record your ideas on the SKALE blockchain today!””

“Using blockchain technology, HUMAN Protocol is able to advance to the next level of automation, especially when it comes to training AI and ML algorithms,” said Harjyot Singh, Technology and Crypto Director, HUMAN Protocol. “In order to achieve this, we have explored the capabilities of layer 1 and layer 2 solutions that can streamline the end to end processes for job creation and verification within a decentralized marketplace — this encompasses payments, work verification, utilizing on chain data and integrating with a host of data labeling tools. Among them, SKALE offers higher throughput, transactional capacity and low latency, and the backward compatibility with Ethereum makes integration a breeze."

“We believe CurioDAO is the most efficient way to get exposure to next-gen real-world asset tokenization in blockchain and wanted to make sure investors have the best experience possible,” said Fernando Verboonen, co-founder of CurioDAO. “That’s precisely why utilizing SKALE is so important. It will reduce gas fees bringing exchange or farming gas fees to almost zero utilizing Ethereum only when necessary, and it does this with high speed throughput and fast block finality. Key pieces to making an amazing end user experience.”

Overview of Launch Partners Highlighting Key Uses

Boot.Finance is a decentralized liquidity protocol launching on Skale Network. Launching in August, Boot has an initial focus on stable-coin swaps and becoming a core building block for other DeFi protocols who need custom AMM functionality (and bonding curves) that one size fit all protocols cannot provide. The core of Boot Finance is comprised of the earliest contributors and supporters of Swerve Finance (a fork of Curve), and based on their experience witnessing the meteoric rise and fall of TVL to close to $1B, have designed the protocol incentives to ensure the community and project thrive long term. For more information go to http://boot.finance

Covey is a search for the best investors. They do this by giving any investor a mock portfolio to track and share their investing ideas. What makes Covey different from other portfolio sharing software, is they seek to reward investors with jobs and direct payments based on their performance. Recruiters and large funds use Covey to find diverse talent with a proven track record. For more information go to https://covey.io/.

CurioDAO is a platform for the tokenization of real world assets. With their unique crosschain solutions today allow consumers to invest into a tokenized car such as a Ferrari F12tdf asset token via CurioInvest, or earn on CurioDAO DeFi CGT via its DEX and become a part of the community. Ultimately, they hope to accelerate tokenization of real world assets as well as allow the community to make investment decisions or govern the utility of the ecosystem. For more information go to https://capitaldex.exchange

Human Protocol provides a hybrid framework for powering decentralized marketplaces. By offering a broadly applicable solution for coordinating tasks across a global network, HUMAN Protocol enables the autonomous creation, settlement, and automation of work requests and payment remittances. Powered by blockchain technology for a more seamless way to organize the distribution, evaluation, organization, and compensation of labor, HUMAN Protocol provides a fully-audited open-source framework for decentralized labor markets to be built. For more information go to https://www.humanprotocol.org/.

Ivy gives consumers a way to trade NFTs and tokens without the need for an existing account or a new app. A simple scan of a QR code moves tokens from one user to another, using only their existing browsers. There is nothing to install, no accounts to create - all that's needed is a simple scan. Thanks to SKALE’s speed and near zero transaction cost, with Ivy, as easily as you can hand someone a dollar bill, now you can hand them crypto. Ivy will launch on the SKALE Network in August presenting a truly unique use case for moving tokens in a brand new way. To learn more go to https://ivy.cash/

Minds is an open source and decentralized social networking platform where users are rewarded with Minds tokens for contributions to the community. With over 4 Million registered users, their goal is to build a new model for content creators to take back their Internet freedom, revenue and social reach. For more information go to https://www.minds.com/.

Earlier this week, SKALE Network introduced the SKALE IMA Bridge which brings security, fast transfer speed, preservation of custody, cost efficiency, and customization to SKALE / Ethereum transfers. The SKALE IMA Bridge uses BLS cryptography, Ethereum mainnet smart contracts, Proof of Stake consensus, and other unique aspects in its design. Developers and users can safely and economically transfer digital assets including ETH, ERC-20, ERC-721, ERC-777, and ERC-1155 tokens as well as general data messaging. For more information please visit our SKALE IMA blog.

About SKALE

SKALE is a multichain network composed of an unlimited number of secure, decentralized, high-performance Ethereum Blockchains. These SKALE Chains were purpose-built to bring Web3 to billions of consumers around the world. SKALE’s advanced cryptography and pooled security model is fast, secure, and decentralized, allowing developers to deliver amazing user experiences to end users without gas fees or latency. SKALE’s modular and extensible platform includes EVM functionality, file storage, interchain messaging, and machine learning capabilities, but is open sourced and designed to allow developers to easily use best of breed solutions when necessary. This architecture further allows applications to run completely on SKALE chains without centralized dependencies. The SKALE Network is an open source project with many contributors including SKALE Labs, Inc. headquartered in San Francisco, CA.

The SKALE Network’s supporters include Arrington Capital, Blockchange, ConsenSys Labs, Hashed, HashKey, Floodgate, Multicoin Capital, Recruit Holdings, Signia VP, and Winklevoss Capital. The SKALE Network is supported by many of the top validators in the world including 01NODE, Ankr, Anonstake, Audit One, Blockdaemon, Blockware, Chainflow, Chainode, Chorus One, Cypher Core, Dokia Capital, Figment Networks,  FreshSkale, Hashed x DELIGHT, Hashquark, Staked, Stakin, Stake With Us, WolfEdge Capital, as well as Staking Facilities. SKALE Network utilised the $SKL token which is listed on 25 exchanges globally, including Binance, Coinbase, FTX, Gemini, Huobi, OKEx and more. For more information please visit www.skale.network, @SkaleNetwork on Twitter, and @skaleofficial on telegram.