Recently, I saw "delegated voting" again, which sounds like outsourcing democracy... The result is mostly just shoving votes into a few major wallets, so who is governance tokens really governing? Probably just the illusion of retail investors. Usually, everyone finds voting troublesome, and when something goes wrong, they blame the project team for dictatorship. Honestly, it’s just laziness to participate but still want to be represented.

What’s even more amusing is that Layer2 projects argue over TPS, fees, and subsidies, while governance proposals still rely on the same few people to give the nod. On-chain, it looks very decentralized, but opening the voting records feels like watching a meeting of oligarchs. Whenever I see proposals to "increase participation," I want to laugh: first, show the concentration of delegated votes, then talk. Don’t treat voting as a decoration. Anyway, I only trust funding rates and human nature for perpetuals; human nature has never let me down in this area.