Sky Ecosystem Q3 Report: Net Income Reaches $37.19 Million, Marking Six Consecutive Quarters of Positive Net Income

October 29 — Sky Frontier Foundation has released the Sky Ecosystem third-quarter report. Net income for the quarter reached $37.19 million, up 11.8% quarter-over-quarter and positive for the sixth consecutive quarter, with the profit margin rising from 31.0% to 37.5%. Total protocol revenue was $99.29 million, up 14.2% year-over-year and down 7.4% from the second quarter. Total expenses fell 16.0% to $62.10 million. Protocol collateral stood at $11.41 billion, up 25.3% year-over-year and down 7.3% from the second quarter. sUSDS supply was $4.52 billion, up 118% year-over-year, but below the second quarter's $5.52 billion. During the quarter, $28.47 million was transferred to the Sky reserves, bringing the reserves' end-of-period balance to $85.08 million.