Last night was another sleepless night staring at the candlestick charts. I brewed a cup of tea and casually looked through the governance voting records of a certain project. The more I looked, the more it seemed like “delegated voting”—how they package everyone’s voices and send them to a few people. They call it community governance, but in the end, who does the token really govern… Honestly, the person with the most delegated votes is the real invisible board of directors.

Recently, modularization and the DeFi layer narrative have excited developers to no end, but users are left confused: I just want to know if my vote counts. Maybe I’m more like someone sitting on the sidelines sipping tea, watching, rather than someone who can change the outcome. Anyway, from now on, I’ll check the delegation flow before voting, so I don’t become just a “participation” contributor again.