Exchange-owned chains built on the OP Stack generated over $495 million in onchain revenue in the second half of 2025, according to OP Labs. This revenue includes sequencer fees, application-generated income, and assets retained onchain. The rapid expansion of applications on these chains, such as Morpho on Coinbase-backed Base, contributed significantly to this growth. Morpho's total value locked (TVL) on Base surged from $48 million to over $960 million in 2025, driven by lending products integrated into the Coinbase app. Kraken's Ink chain also saw substantial growth, adding over one million unique addresses since December 2024, with 99.4% being new onchain wallets. Tydro, a lending protocol on Ink, reached $100 million in TVL within 24 hours of its launch in October 2025, surpassing $500 million in 90 days. Across the OP Stack ecosystem, chains secured $16.33 billion in total value and processed 3.6 billion transactions in H2 2025, marking an all-time high. Regulated companies like Bitpanda and Mitsui & Co. are also adopting the OP Stack for institutional projects.