DeFi lender Sky hits $124m revenue record. Yet token holders aren't impressed [Yahoo! Finance]
S&P Global Inc. (SPGI)
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Source: Yahoo! Finance
On Wednesday, the Sky Frontier Foundation released the Q1 2026 financial results for the $13 billion lender, revealing it made nearly $124 million in gross revenue, and almost $61 million in net revenue in the first three months of the year. It's the highest income the protocol has made since it launched as MakerDAO back in 2017. Yet the market doesn't seem to be impressed by the record figures. Sky's governance token has registered a decline of around 2.4% since the results were announced publicly. Sky, like many decentralised finance protocols, operates as a type of digital cooperative called a decentralised autonomous organisation, or DAO. Here, those who hold the Sky governance token can suggest and vote on changes to the protocol. The Sky token trades at almost a $2 billion market value, per CoinGecko. Sky's record earnings come as institutional interest in onchain apps that provide yield on crypto assets continues to grow. DeFi protocols — including Sky — are rushin
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SPGI
Earnings
- 4/28/26 - Beat
SPGI
Sec Filings
- 4/29/26 - Form IRANNOTICE
- 4/28/26 - Form 10-Q
- 4/28/26 - Form 8-K
- SPGI's page on the SEC website