Q3 saw the sixth consecutive quarter of positive Net Revenue on Sky Protocol, with wider margins and continued contributions to Sky Reserves. Key Highlights: → Gross Protocol Revenue: $99.29M (+14.2% YoY) → Net Revenue: $37.19M (+11.8% QoQ), sixth consecutive positive quarter → Net Revenue Margin: 37.5%, up from 31.0% in Q2 → Protocol Collateral: $11.41B (+25.3% YoY) → Sky Reserves: $28.47M remitted during Q3, closing at $85.08M → sUSDS Supply: $4.52B (+118% YoY)