Last night, I was browsing on-chain until past 2 a.m., and I saw that a certain protocol’s governance was voting again. So I clicked in—when I took a look, the delegated amounts of the top addresses were ridiculously huge… To put it simply, the token claims “everyone governs,” but in the end it looks like just a few people are forming a small group to decide things, while the rest can at most serve as background boards.

I’ve also been tempted once before by “delegated voting is so convenient.” Since I didn’t understand the proposal, I casually delegated to a KOL. Later, that person suddenly cast all their votes in support of a proposal to change parameters, and that’s when I realized I hadn’t even pressed the oppose button. In that moment, it was a bit awkward. Anyway, from that day on, I believe in one rule: if I don’t understand it, I won’t take action—even if it means getting fewer “rewards.”

Recently, there’s been a whole bunch of social mining and fan tokens again—every day they keep yelling that attention is being mined… It sounds pretty lively, but in the end, attention will also be “delegated” to people who can shout more effectively, right? As for who governance tokens are actually governing—I’m increasingly leaning toward this: it’s governing people like me, who don’t love reading the fine print. That’s it for now—slowly take a look.