source avatarSZB ✰

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Most projects focus on building infrastructure first and worry about business growth later. @turtledotxyz seems to be taking a different route. Its Q3 update reported $1.04M in combined revenue from Turtle and Lunar Strategy, calculated on a cash-in basis and after removing intercompany transactions. What caught my attention isn't just the number. It is how that revenue was generated. Turtle was still developing its infrastructure while bringing in revenue through services and distribution. There is another interesting part to this update. Hare and Lunar Strategy are the first two external businesses using Turtle's tools. This means the ecosystem is starting to move beyond its own operations. For me, that's an important signal. Building technology is one challenge. Getting real businesses to use it and generate activity around it is another. Of course, long-term growth will depend on recurring revenue, costs and healthy margins. But seeing actual business activity while the infrastructure is still taking shape makes Turtle worth watching. The next thing I'll be looking at is how this adoption develops from here.

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