I'm not very good at explaining big principles, but lately, watching governance voting feels more and more like "delegation = passing the buck." Everyone is busy mining/claiming airdrops, casually handing their votes to a few familiar proxy agents, and on-chain it shows a bunch of addresses in "democracy," but in reality, it's just those few people holding meetings... To put it plainly, governance tokens might ultimately be just an illusion for retail investors.

What's more annoying is that project teams are quite good at exploiting this inertia: proposals are written long and convoluted, voting periods are set over the weekend, and by the time you react, it's already passed. When certain regions impose taxes or tighten regulations, everyone's deposit and withdrawal expectations change, and they become even lazier about governance participation—just saying "don’t bother, if you can run, just run." My current approach is: don't delegate easily, and if I do, I regularly change the delegate and check voting records; otherwise, saving on Gas and handing over all the power just results in bigger losses.