Recently, I’ve seen some new L1/L2 projects immediately boost TVL once incentives are launched, with old users rushing in while complaining, "Mining, selling," which is quite normal: the rewards attract people, but governance often lags behind. Delegated voting was originally designed to be convenient; I’ve delegated myself too, since it’s impossible to read every proposal thoroughly. But over time, it’s easy for a few major players who "default" to receiving votes to make decisions, and ultimately, who does governance tokens really serve… Sometimes it’s really quite subtle.

What I care more about now is: before a proposal passes, whether there are obvious stakeholders on-chain positioning themselves in advance; and whether delegates transparently clarify their stance and conflicts. Anyway, I don’t need to be understood, I just want to clearly define the risk boundaries: avoid voting if possible, and if I must vote, do small self-votes plus diversified delegation, at least don’t turn "participating in governance" into automatic authorization. That’s all for now.