Revenue is not a token dividend. Sounds obvious, right? Yet crypto has a habit of mixing the two. Turtle's Q3 update reported $1.04M in revenue across Turtle and Lunar Strategy, on a cash in basis and net of intercompany transactions. That revenue came from services and distribution. But here's the distinction worth examining. At @turtledotxyz , $TURTLE has a separate role tied to coordination access. Staking can influence access to deals, while the published framework says protocol revenue is currently reinvested. So I read these as two different signals. Revenue tells us about commercial activity. Token utility tells us what the asset does inside the network. Confusing them turns a useful financial update into a misleading narrative. https://t.co/nakSTfrbge