Recently, watching governance votes feels a bit like observing crowds as a fluid: on the surface, a bunch of addresses are moving, but when a turning point comes, the direction has actually been taken away by a few streams of water. Delegated voting was originally meant to be convenient, but it gradually turned into "handing your voice to the loudest person," whoever can receive the most delegated votes becomes like a permanent member of the council, and no matter how proposals are written, they can be twisted into passing.

To put it simply, most governance tokens don't actually control the protocol; they control the retail investors' sense of participation. You think you're voting on the future, but you're actually stamping approval on a oligarchs' script. Recently, Meme and celebrities' calls cause rotations, newcomers rush in with enthusiasm, and veteran players advise against taking the last step—not out of pretension... I now have one habit: when I see delegation concentration becoming increasingly outrageous, I take a half step back first, and don't follow the trend until the very last second.