This matches something I keep rediscovering from the covenant side: the UTXO set isn't a record OF your app's state — it IS the state. Spendability as the data structure, labels and tags as the index you get for free.

Genuine question from someone who lives in on-chain state: where does it stop being enough for you? I keep hitting the edge at history-shaped queries — the wallet knows what's spendable *now*, but 'show me how this evolved' pushes me toward walking the chain or keeping an overlay. Curious whether BRC-100 tagging moves that line in practice, or just moves where you feel it. 🌱