Grvt’s first buyback and burn is finished. 1.1M GRVT off the market and out of circulation. The onchain dashboard from is the detail that stands out. Independent partner executes, hashes are public, you can track the purchases and cumulative burns without relying on announcements. Intended monthly and discretionary going forward. It all lines up with @grvt_io's Grvt 2.0 rollout. Of the pieces landing in the next few weeks, Yield as Margin is the one that most directly solves a real friction. Earn balances that can also be used as trading margin means the same capital doesn’t have to sit idle just because you want to trade. That’s rarer than it should be. The burn is the delivered signal. The products will show whether the capital-efficiency angle holds.