Lately, I've been a bit obsessed with DAO proposals... On the surface, they're discussing "how to spend funds," but secretly, it's about who gets to make the decisions and who can keep receiving incentives. Many proposals tie voting rights and subsidies together, essentially raising the cost of opposition, leaving only the same group of people nodding at each other.

On-chain activity is also quite interesting. I just saw a transaction where 0x7b3…c21 sent 3,200 ETH to a multi-signature wallet, and two hours later, the exchange's hot wallet moved a bunch of U tokens. The group was already shouting "smart money is here." But now I want to ask: who pocketed this money, and will they conveniently change the voting threshold next... Anyway, the few lines of parameters in the proposal look more like the boundary of power structures than any large transfer.