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Sky Ecosystem
Insights
The central hub for financial reporting, operational updates and ecosystem data. Delivering clear transparency on the fundamental health of Sky Ecosystem.
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Sky Ecosystem Quarterly & Annual Reports
The following reports are produced by Sky Frontier Foundation, an independent foundation, to provide the community and institutional observers with quarterly and annual analysis of the Sky Ecosystem.
Sky Ecosystem Q1 2026 Quarterly Report
This report details Sky Protocol's strongest quarter on record, with Gross Protocol Revenue of $123.79M and Net Protocol Surplus of $46.04M. Q1 results exceeded SFF's 2026 forecast across every key metric, reinforcing the 2026 outlook of $20.6B in USDS supply.
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Sky Ecosystem Q4 Update and 2026 Outlook Summary
This report details the Sky Ecosystem’s efficient scaling in 2025, featuring a 74% surge in USDS supply and $338 million in revenue. It outlines the 2026 strategic shift toward aggressive market expansion, projected to drive USDS supply to $20.6B through diversified real-world yield sources.
Annual State of Sky Ecosystem
This report provides an overview of Sky Ecosystem financial and performance metrics for 2025, and outlines the strategic capital allocation updates and financial outlook for the upcoming quarters of 2026.
Press Releases
Monthly Updates
Sky Ecosystem: April Financial & Operational Update
Welcome to the second Sky Ecosystem Financial & Operational Update, published by the Sky Frontier Foundation (SFF).
Sky Ecosystem: March Financial & Operational Update
Welcome to the inaugural March Financial & Operational Update, published by the Sky Frontier Foundation.
Press Releases
Q1 2026 marks a decisive inflection point for Sky Protocol. The protocol returned to record-setting growth, generating Gross Protocol Revenue of $123.79 million for the three months ended March 31, 2026.
Veteran of Falcon X, Bakkt and Genesis joins Sky as the USDS stablecoin reached $12 Billion in supply in Q1.
Following $134M investment from R01 Fund LP, Framework Ventures, Tether Investments, S.A. de C.V., and Sky Frontier Foundation, Stablecoin Development Corporation has acquired 2.06B SKY tokens.
Better will join Sky as a “Star”, bringing a powerful new source of yield on-chain for the world’s third largest stablecoin.
Annual State of Sky Ecosystem 2025 report sets a new standard for transparency in onchain finance. In 2025, the onchain protocol grew USDS supply 86% to $9.9B.
Monthly Updates
Sky Ecosystem: April Financial & Operational Update
Welcome to the second Sky Ecosystem Financial & Operational Update, published by the Sky Frontier Foundation (SFF).
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Sky Ecosystem: March Financial & Operational Update
Welcome to the inaugural March Financial & Operational Update, published by the Sky Frontier Foundation.
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Sky Ecosystem Statistics
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