The third time I see "governance" being turned into a delegated voting contest. Basically: the moment you hand over your vote, the governance tokens start governing you—governing your patience, governing your sense of participation, ultimately forming a small circle of big holders and agents.

Recently, new L1/L2s are launching incentives to attract TVL, and veteran users complain about "mining, selling, and withdrawing." I actually think it's quite honest: at least everyone admits what they're here for. But while mining and delegating votes to the same group of people, the narrative smoothly shifts from "community co-governance" to "oligarchs maintaining stability." Anyway, when I see high delegation rates and low voting participation, I just assume there will be chaos later—so don’t get too caught up in it.