Recently, I’ve found governance voting a bit awkward. They call it “community co-governance,” but in the end, a bunch of people delegate their votes away, and it turns into only a few addresses making the final decisions. It’s not necessarily that they’re bad, but the feeling is like: governance tokens—so who are they actually governing? In plain terms, they’re governing the **choice/right** of the “people who don’t have the time to review proposals.”

Over the past couple of days, the funding rate has been pushed to pretty extreme levels again, and the chat has erupted—was this the peak of sentiment before a reversal, or the prelude to squeezing the bubble further? Watching it, I can’t help thinking governance follows the same psychology: the more anxious everyone gets, the more they want to outsource their judgment, and power naturally ends up concentrating around “the ones who seem to understand the most.”

My current approach is a bit like giving myself a “backup”: I don’t fully delegate my votes. I keep a portion to vote myself— even if I vote clumsily, it still leaves some redundancy. Anyway, in the long run, don’t hand your entire fate over to a single click.