Svmuu News: Stacy Muur posted on X stating that over the past year, Sky and Ethena generated similar levels of fee revenue, with Sky at approximately $413 million and Ethena at approximately $362 million; In terms of protocol revenue, Sky generated approximately $240 million, while Ethena generated approximately $12.4 million. Sky’s revenue comes from borrower fees and stablecoin collateral yields, with the majority remaining at the protocol level; Ethena’s revenue comes from hedging collateral, including funding fees and basis trading, with the majority flowing to sUSDe holders as yields. Over the past month, Ethena’s TVL has declined by 16%, while Sky’s TVL has increased by 0.5%.