GRVT is starting to show a different model for perpdex incentives. @grvt_io is already distributing yield to users at the product level, with returns coming from tokenized deposits, commissions, and platform activity rather than a future token unlock. Capital on the platform is not idle. Collateral can earn yield while being used for trading, which changes how traders think about deployment and cost of capital. The structure leans toward revenue alignment, where user returns are tied to actual usage instead of purely emissions. For a perpdex, delivering visible yield before TGE is a notable signal. Worth watching how this model scales as more capital and users enter the system.(Whale Factor)