Recently, I've seen quite a few protocol votes again, and when I click in, most of them are basically pushed through by "delegated whales"... To put it plainly, governance tokens end up governing whom? Sometimes it feels like it's just giving a stamp of approval to a few people. Retail investors either don't bother to research or think their votes are insignificant, and in the end, they rely more on delegation, which naturally leads to oligarchic control.

What's more awkward is that the layer of on-chain execution isn't very "fair" either. These days, everyone is complaining about validator income, MEV, and block ordering, feeling like: governance voting relies on having more people and less speech, while block ordering depends on rules but can be manipulated, leaving ordinary users stuck in the middle as mere spectators.

I personally don't have strict doctrines about "long-term" either, since it's not about emotions over a week or two. At least, we should wait through a quarter, to see the heat subside and liquidity thin out. Only after enduring this can we reassess. Lower your positions and expectations first; the lighthouse can only do so much.