Recently reviewed several DAO proposals, on the surface they all talk about "optimization, upgrades," but I'm more interested in how those few lines of incentives are written: who gets the voting rewards, whether delegation is allowed, how snapshot weights are adjusted... Basically, it's quietly reshuffling power. On-chain, I mapped out the flow of votes into a colorful diagram, and you can instantly see if a few big whales are passing the baton back and forth; in reality, not many people are actually participating. By the way, I saw the community arguing again about privacy coins/mixing and compliance boundaries, which is quite divisive; but many votes follow the same logic — whoever can define "compliance" can take the steering wheel of governance. Anyway, when I look at proposals now, I first see where the money is flowing, where the power is coming from, and then decide whether to click "Approve."