SKY eyes $0.085 as Q3 net revenue climbs 11.8%

Gopal identified a falling wedge on SKY’s four-hour chart, with lower highs and lower lows converging after a prolonged correction. The token had not broken above the formation’s upper boundary in the Nov. 5 post. A move through $0.070–$0.072 would be needed to activate the proposed recovery scenario; $0.063 was cited as support.

From the $0.0675 reference price, $0.085 would represent a gain of about 25.9%. The target is a chart projection, not a valuation based on protocol earnings.

Sky Frontier Foundation reported Q3 net revenue of $37.19 million, up 11.8% from the previous quarter. Gross protocol revenue fell 7.4% to $99.29 million, but expenses declined 16% to $62.10 million. The net revenue margin increased from 31% to 37.5%, marking the sixth consecutive quarter of positive net revenue.

Milk Road Crypto’s breakdown attributed the improvement to lower savings-rate payouts, which fell by $11.97 million to $41.94 million as sUSDS supply decreased from $5.52 billion to $4.52 billion. That reduction exceeded the $8.06 million drop in revenue, producing a $3.91 million net revenue improvement. Sky sent $28.47 million to reserves, whose quarter-end balance stood at $85.08 million—about 56.7% of the $150 million target.

The report also listed $8.72 million for SKY buybacks and USDS payments to stakers: $5.60 million in buybacks and $3.12 million in rewards. The Foundation said Stage 2 of its buyback framework began funding purchases, staking rewards and permanent burns from net revenue. The first burn removed 2.86 million SKY on Sept. 13. Galaxy’s $100 million sUSDS treasury allocation and approval of the token as collateral in its institutional lending business also featured in the report.

Separately, Osero proposed connecting its Ethereum and Base liquidity systems through Circle’s Cross-Chain Transfer Protocol and adding a Gauntlet-curated USDC vault on Base. The plan sets a 15 million USDC deposit rate limit, replenishing at 10 million USDC daily, with withdrawals unlimited under the configuration. Cross-chain transfers would have a separate 10 million USDC limit, replenishing at 50 million USDC daily in each direction. The proposal targets the Nov. 19 governance spell, depends on Sky Core actions and execution on both chains, and says the spell itself transfers no tokens. Engineers plan to test the setup with a 1,000 USDS round trip through the Base vault and back to Ethereum after configuration checks.