Building infrastructure and generating $1M+ in revenue at the same time is worth paying attention to. @turtledotxyz reported $1.04M in Q3 revenue across Turtle and Lunar Strategy, on a cash-in basis and net of intercompany. The interesting part is that this came from services and distribution while the infrastructure was still being built. That says something about the business model. Turtle was not simply spending time developing tools and waiting for adoption. It was already generating revenue through the work happening around its ecosystem. For an early infrastructure protocol, that is a meaningful milestone. Full Q3 update:
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