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Recently looking at on-chain governance voting, it’s a bit like watching the “delegate leaderboard”… To put it simply, who exactly is the governance token governing? Many people (including myself) end up giving their votes to a few big accounts, just to save trouble, but as a result, power becomes more concentrated, and oligarchic tendencies follow naturally. Saying decentralization in words, but actually handing over the steering wheel to others.
Outside, people are interpreting ETF capital flows, U.S. stock risk appetite, and crypto market rises and falls together, I also watch but don’t dare to treat them as signals. Anyway, I’ll just keep waiting: waiting for the proposal details to be confirmed, waiting until I understand the stakes clearly, waiting until I can write that “why” into my trading journal. Otherwise, voting or not voting makes no difference.