Blazers give up a pick swap to get off the contracts of Jrue and Grant. They can bring Butler back on an expiring contract next year. If things don't work out, they can trade Butler at next year's deadline to a contender or just let his contract expire. If they let his contract expire, they have cap space to go after a free agent in summer ‘27.
Here is another trade idea for Giannis that will include the Blazers: https://fanspo.com/nba/s/general/trades/e9zdl3IklS3Rtx/giannis-to-knicks-