Looking at DAO proposals, I’m not focusing on the grand vision right now, just translating the incentives: how to get voting rights, how long to lock, whether you can withdraw immediately after voting, whether delegation is a one-click vote pull... In simple terms, the power structure is all written in the parameters. If rewards are linearly distributed based on voting rights, whales will basically eat steadily, and retail investors, even if more active, will just be like side players; conversely, if the threshold is too low and easy to manipulate votes, it ultimately becomes “governance arbitrage.” Recently, someone has been inserting AI Agents and automated trading systems into governance, claiming they can help you vote automatically and interact automatically. I’m a bit worried: once permissions are enabled and contracts are swapped, who will bear the security boundaries? I’m personally watching two numbers: the proposal approval threshold/delay execution time, plus whether risk control allows emergency pauses—so that governance doesn’t remove the safety barriers only to find out before liquidation that they’ve been dismantled.