View source for Skale (SKL)

[https://skale.network/ Skale] is a decentralized network of [[blockchains]] built on [[Ethereum (ETH)|Ethereum]], with a focus on running [[Decentralized Applications (DApps)|decentralized applications]] with speed and low cost.{{Crypto_info_template|website = https://skale.network/|launch = 30-6-2020|total_supply = 7.000.000.000|type = L2}}

==Basics ==
* Founded in: [https://skale.network/blog/3-2-1-blast-off-skale-mainnet-is-live/ 2017]
* [[Mainnet]] release: [https://codefi.consensys.net/blog/the-skale-network-is-live-on-mainnet 30-6-2020] (first of three phases). Phase 2 [https://skale.network/blog/skales-phase-2-decentralized-mainnet-goes-live-with-over-80-million-usd-in-total-value-locked/ got live] on 1-10-2020 with Over $80 Million USD in [[Total value locked|Total Value Locked]].
* Based in:
== History ==
* [[Skale Labs]] raised nearly $10M to develop a [[second layer]] scalability infrastructure for [[Ethereum (ETH)|Ethereum]]. They were going to launch the first implementation on a [[Plasma]] chain since they had plans to go live at the end of 2018. In the end it took until the summer of 2020.

== Audits & Exploits ==
* [[Bug bounty]] program can be found [https://skale.network/blog/network-bounties-and-delegation-workflow/ here] (12-2020).
=== Bugs/Exploits ===

== Governance ==

=== Admin Keys ===
=== DAO ===

=== Treasury ===

* [https://twitter.com/CoinDesk/status/1494719389161213955 Launched] a new $100M ecosystem fund. The first $5M will go towards [[blockchain]] gaming projects (19-2-2022). 

* Has a [https://skale.network/blog/foundation-treasury-ecosystem-fund-and-protocol-development-fund-update/ treasury] which is subjected to lock ups (30-11-2020).

== Token ==
=== Launch ===
* Deployment of Proof-of-Use for its [[token]] launch. [https://formalverification.substack.com/p/radar-skale-96d?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo1ODU4OTMsIl8iOiJjOXhSbiIsImlhdCI6MTU5MzEwNzY4NiwiZXhwIjoxNTkzMTExMjg2LCJpc3MiOiJwdWItMzkxNjAiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.YIc36ujXm_JxUc8c0iDrsAlQLqswmgk747TNGlOMpLM From] [[Formal Verification]] (24-6-2020):
"''SKALE will be the first token launch on [[Consensys]]’ new [https://activate.codefi.network/ Activate] platform. Following on from Consensys’ Token Foundry [https://medium.com/tokenfoundry/introducing-token-foundrys-standards-for-consumer-tokens-cdc7fd99f2d5 standards], there is now a requirement for prospective token buyers to also become active participants in the network through its 90 days [https://email.mg1.substack.com/c/eJwtUEGOgzAMfA05ojhQGg457GW_gYxjIGpIUBJa8ftN25UsWxqPPJ4hLLzGdJkj5iLOzGly1kAvpZajsEbeFd1n4fK0JOYdnTfiOGfvCIuL4U3uRhik2MzIeqGBNAwaQN87uo2EM-DSoyZNSrwlJjyt40BsYvDXdKCzwputlCM33U-jfmtRtLy4lmLIHPKV28ClwrW_Ynpk4YySSsoBRgC4gW6hlUBAalht759NL_cV2nzOuSA96p1dJOP55XK7YfIY7JuC9NlUM1Od-xlcuSYOOHu2RpRvIJ-Xy3WwCfzKnkvh9AWr8dugRtCiCtlYkwlmiWlH_-Tklv98_gCPmXiq Proof-of-Use] period."''
* [https://decrypt.co/41776/ethereum-based-skale-raises-5-million-public-token-sale From] [[Decrypt]] (14-9-2020):
"''SKALE sold over 167 million [[tokens]], worth over $5 million in a public token sale. Those tokens will be [[distributed]] on September 24, at which point owners can use them to generate [[staking]] rewards on the network. SKL buyers can [[stake]] the token on [[ConsenSys]] Codefi's Activate platform. The platform uses proof of use, which mandates that holders stake the token for a predefined period before they are unlocked for other uses."''

=== Token allocation ===
* From their [https://skale.network/tokenomics Tokenomics page] (31-7-2020):
[[Validator]] rewards 33%

Delegator allocation 27.3%

Founding team 16%

SKALE [[Foundation]] 10%

Dev Fund 7.7%

Core Team 4%

Ecosystem 2%

=== Utility ===
* From their [https://skale.network/tokenomics Tokenomics page] (31-7-2020):
"''The SKALE token (SKL) is a hybrid use token which represents the right to work in the network as a validator, stake as a delegator, or access a share of its resources by deploying and renting an Elastic [[Sidechain]] or Elastic Blockchain for a period of time as a developer. Users pay SKALE in a subscription-based model to rent these resources (computation, storage, [[bandwidth]]) for a predetermined amount of time in the form of an Elastic Sidechain. [[Validators]] stake SKL into the network and then gain the right to run nodes and [[earn]] both [[fees]] and tokens via inflation. Delegators may delegate their tokens to validators and earn rewards."''

=== Token Details ===
=== Stablecoin ===
== Tech ==
* [[Whitepaper]] can be found [https://skale.network/whitepaper here] (7-2020).
* Code can be viewed [https://github.com/skalenetwork here].
* Built on: [[Ethereum]]
* Programming language used:
=== Transaction Details ===
* Capacity ([[TPS]]): [https://codefi.consensys.net/blog/the-skale-network-is-live-on-mainnet 2000m]
* [[Latency]]:
=== How it works ===
* [https://formalverification.substack.com/p/radar-skale-96d?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo1ODU4OTMsIl8iOiJjOXhSbiIsImlhdCI6MTU5MzEwNzY4NiwiZXhwIjoxNTkzMTExMjg2LCJpc3MiOiJwdWItMzkxNjAiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.YIc36ujXm_JxUc8c0iDrsAlQLqswmgk747TNGlOMpLM From] [[Formal Verification]] (24-6-2020):
''"A network of interoperable [[proof-of-stake]] elastic [[sidechains]]. Chains are ‘elastic’ because they are highly configurable with regards to size, duration, [[VM]], storage capacity, as well as the number of [[nodes]] securing the chain. SKALE utilises a work token model. SKALE tokens are [[staked]] by validators as well as used in its [https://skale.network/whitepaper subscription model] when chains are created.''

''When choosing chain size for example, developers are effectively determining how much of a single node’s resources they want securing its chain. Small chains (where a chain takes 1/128th of a node’s resources) can cater for smaller non-critical [[dApps]] while large chains (using 100% of a node’s resources) can target dApps that have larger user bases and require higher throughput capabilities. The number of validator nodes themselves is also customisable allowing any configuration of is 3n+1 where n>=1.''

''SKALE makes use of [https://medium.com/skale/bls-deep-dive-793a4e8a6f4e BLS signatures] that provides a potentially fruitful alternative to scaling network [[transaction]] rates without requiring user monitoring, wait periods, or dispute resolution (which can be the [[case]] with certain [https://medium.com/starkware/validity-proofs-vs-fraud-proofs-4ef8b4d3d87a Fraud Proofs] set ups). But the most intriguing aspect to the addition of BLS Signatures is that it applies to many facets of the network - it can also [https://skale.network/blog/introducing-bls-rollup/ facilitate] fast but secure [[interchain]] messaging between SKALE chains through each chain’s group [[signature]], providing the desired interoperability within the network itself.''
* [https://ournetwork.substack.com/p/issue-45?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoxNjE1ODkyNCwiXyI6IlUva0lWIiwiaWF0IjoxNjA0MTI3ODAyLCJleHAiOjE2MDQxMzE0MDIsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.4rd-UQWdD2-Cji0W3-f4U2dpV7mL6Eg518GaGuhLJDk From] [[Our Network]] #45 (30-10-2020):
"''SKALE is rooted in the Ethereum [[Mainnet]] (EM) from which it is also managed. The entire $80M volume of SKL that is staked in SKALE nodes is held directly on the EM. The set of [[smart contracts]] that orchestrate the SKALE Network operates on Ethereum as well. This connection with Ethereum lets SKALE combine [[Layer 1]] security with fully [[decentralized]] [[Layer 2]] performance."''
===Fees ===
===Upgrades ===
*Skale v2 [https://skale.network/blog/into-the-skaleverse-introducing-skale-v2/ launched] in March 2022: ''"v2 will allow users to hop between Skale chains in under a minute and without having to pay high [[gas]] fees."''
*[https://ournetwork.substack.com/p/issue-45?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoxNjE1ODkyNCwiXyI6IlUva0lWIiwiaWF0IjoxNjA0MTI3ODAyLCJleHAiOjE2MDQxMzE0MDIsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.4rd-UQWdD2-Cji0W3-f4U2dpV7mL6Eg518GaGuhLJDk From] [[Our Network]] #45 (30-10-2020):
"''On October 1, the SKALE [[MainNet]] Phase 2 launched into a fully [[decentralized]] [[state]] with over $80M Total Value Locked ([[TVL]]), over 3700 delegators from 90 different countries, 46 validator orgs, and 140 [[nodes]]; many well-reputed validators such as [[BlockDaemon]], [[Chorus One]], [[Figment]], and others launched and ran nodes in the network."''
===Staking===
====Validator Stats====
* 25 validators [https://skale.network/blog/3-2-1-blast-off-skale-mainnet-is-live/ participated] (30-6-2020) in onboarding, training, [[TestNet]], and have completed qualifications to run in the Phase 1 and 2 Mainnet. 
* Early Skale Validator Partners [https://skale.network/ are] (31-7-2020):
[[BisonTrails]], [[Blockdeamon]], [[Certus.One]], [[Chainflow]], [[Chorus]], [[Cypher]], [[Dokia Capital]], [[Figment Networks]], [[Hashed (Company)|#Hashed]], [[Consensys]] Labs, [[NGC Ventures]], [[Staked (Company)|Staked]], [[StakeWith.Us]] and [[Stake.fish|Stake.Fish]]
* Some got [https://skale.network/blog/skale-network-ecosystem-for-ethereum-scaling/ added] as of 10-8-2020:
[[Stakin]], [[Blockware]], [[Ankr]], [[Hashquark]], [[Audit.One]], [[01 Node]], [[Anonstake]] and [[WolfEdge Capital]].
* [https://ournetwork.substack.com/p/issue-45?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoxNjE1ODkyNCwiXyI6IlUva0lWIiwiaWF0IjoxNjA0MTI3ODAyLCJleHAiOjE2MDQxMzE0MDIsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.4rd-UQWdD2-Cji0W3-f4U2dpV7mL6Eg518GaGuhLJDk 95% of token holder] [[addresses]] have been staked by MainNet launch on October 1st.

=== Liquidity Mining ===
===Scaling===
=== Interoperability===
=== Other Details ===

== Oracle Method ==
* According to their [https://skale.network/blog/skale-network-ecosystem-for-ethereum-scaling/ blog] (10-8-2020) [[Chainlink]] and [[Razor]] will be used. 
== Privacy Method ==

=== Compliance ===
* [https://decrypt.co/41776/ethereum-based-skale-raises-5-million-public-token-sale From] [[Decrypt]] (14-9-2020):
"''It says that over 14,000 people from over 130 countries wanted to participate in the launch and had indicated they were ready to purchase $43 million worth of the token—far more than total supply. SKALE used a “more compliant” [[Know Your Customer (KYC)|know-your-customer]] process to pare down the list of potential buyers."''

== Their Other Projects ==
== Roadmap ==
* Can be found [Insert link here].
* From this [https://codefi.consensys.net/blog/the-skale-network-is-live-on-mainnet article] (1-7-2020):
"''Since this is the first phase of SKALE Network’s [[mainnet]], staking and transfers are not yet enabled. However, SKALE’s incentivized [[testnet]] has been running smoothly with over 12 validators since May 20th with no downtime, to ensure that SKALE’s mainnet is secure and maximally performant when staking becomes available on Activate. You can read more about the phases of SKALE’s Mainnet launch [https://skale.network/blog/mainnet-launching-june-30th/ here]."''
* From their [https://skale.network/blog/3-2-1-blast-off-skale-mainnet-is-live/ blog] (30-6-2020):
"''Phase 1: A restricted Mainnet that does not have staking or transfers enabled. Live on June 30th.''

''Phase 2: A Proof of Use Mainnet with staking and bounty enabled, but transfers and exchange listings not active for a 90 Day period. Target early Q3. ConsenSys will announce the date their platform will be ready which is required for Phase 2.''

''Phase 3: Restrictions come off the network and unlocked tokens can be transferred. This will be 90 days after the Phase 2 Launch."''
* [https://ournetwork.substack.com/p/issue-45?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoxNjE1ODkyNCwiXyI6IlUva0lWIiwiaWF0IjoxNjA0MTI3ODAyLCJleHAiOjE2MDQxMzE0MDIsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.4rd-UQWdD2-Cji0W3-f4U2dpV7mL6Eg518GaGuhLJDk From] [[Our Network]] #45 (30-10-2020):
"''SKALE is now getting ready for the MainNet Phase 3 launch on Dec 1st, which will mean a liquid release of the token. [[Dapps]] will commence onboarding over the next few months."''
== Usage ==
=== Projects that use or built on it ===
* From their [https://skale.network/blog/3-2-1-blast-off-skale-mainnet-is-live/ blog] (30-6-2020):
"''48; The number of [[dApps]] signed up in the SKALE Innovator Program. In addition there are over 100 dApps at some point in the pipeline."''

== Competition ==
== Pros and Cons ==
=== Pros ===
=== Cons ===
== Team, Funding, Partners ==
=== Team ===
* Full team can be found [https://skale.network/team/ here] (31-7-2020).
* [[Jack O'Holleran]]; CEO & Co-founder
* Stan Kladko; CTO & co-founder
=== Funding ===
* [https://www.coindesk.com/business/2022/02/18/ethereum-scaling-solution-skale-launches-100m-ecosystem-fund/ Raised] $100M and turned it into an ecosystem fund (19-2-2022):
''"Instead of a single entity awarding the $100 million in funds, Skale will feature a number of different groups collaborating around the issuance process, which includes prominent corporations, [[Decentralised Autonomous Organisation (DAO)|DAO]] and nonprofits."''
*[https://decrypt.co/41776/ethereum-based-skale-raises-5-million-public-token-sale From] [[Decrypt]] (14-9-2020):
"''SKALE sold over 167 million tokens, worth over $5 million in a public token sale."''
*Has [https://skale.network/ support] from (31-7-2020):
[[Arrington XRP Capital]], [[Acrew]], [[BlockChange]], [[Canaan]], [[Consensys Labs]], [[Floodgate]], [[Galaxy Digital]], [[Hashed (Company)|Hashed]], [[Multicoin Capital]], [[MW Partners]], [[Neo Global Capital]], [[Spartan]], [[Winklevoss Capital]].
=== Partners ===
* [https://ethhub.substack.com/p/ethhub-weekly-127?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo4NTY2NjMsIl8iOiIwb3pkOCIsImlhdCI6MTU5ODQ2NzUzMSwiZXhwIjoxNTk4NDcxMTMxLCJpc3MiOiJwdWItMzkxMCIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.RATpSh7nRsMo9pkryiro4R8-KYepoKDJiWiahiwEmFA From] [[EthHub]] #127 (17-8-2020):
"''SKALE Labs, the core team behind the SKALE Network, has announced over 40 integration partners and validators, in addition to the [[Dapps]] that joined the SKALE Innovator program and are currently building on the platform."''
* It mentions [[Synthetix]], [[Maker]], [[Connext]] and [[Threefold]] in its [https://skale.network/blog/skale-network-ecosystem-for-ethereum-scaling/ blog] (10-8-2020) and says ''"over 50 Dapps  are currently building on SKALE".''

==== Idle Finance Yield Farming Update ====
[[Category:Coins/Tokens]]