Today, Grass announced that it is rewarding network participants in USDC instead of its native token. Grass reached profitability near the end of last year, and is now in the unusual position of being able to compensate contributors directly from the revenue the network generates. To me, this represents an important milestone. A network should eventually graduate from subsidized growth to a self-sustaining economy. Token incentives are a powerful tool for bootstrapping supply, but they should not become a permanent substitute for real demand. The end state was never "pay people with tokens forever." The end state is a business with customers, cash flow, and a network whose participants are compensated because the underlying service creates real economic value. We're still early in that journey, and there's an enormous amount of work ahead of us. But today feels like an important step, and it makes me incredibly excited for what's next.