Sky Ecosystem reported net revenue of $37.19 million in the third quarter, marking its sixth consecutive quarter of positive growth.

Sky Frontier Foundation released its third-quarter report for the Sky Ecosystem, reporting net revenue of $37.19 million, a 11.8% increase quarter-over-quarter, marking the sixth consecutive quarter of positive growth. Profit margin improved from 31.0% to 37.5%. Total protocol revenue was $99.29 million, a 14.2% year-over-year increase, but a 7.4% decrease from the second quarter. Total expenses decreased by 16.0% to $62.1 million. Protocol collateral size was $11.41 billion, a 25.3% year-over-year increase, but a 7.3% decrease from the second quarter. sUSDS supply was $4.52 billion, a 118% year-over-year increase, but a decrease from $5.52 billion in the second quarter.