Lately, I’ve been a bit overwhelmed watching governance votes, everyone talks about decentralization but in practice they’re all delegating, and in the end, it’s just a few big accounts nodding and stamping each other. Who exactly does governance tokens serve? Honestly, mostly it’s about managing retail investors’ time and emotions: if you don’t delegate, your vote is almost meaningless; if you do delegate, you’re afraid of handing over power to “insiders and oligarchs.”

A couple of days ago, I even set up a voting reminder + delegation limit for myself, which made me feel a bit more relaxed: when the reminder goes off, I just check it out; if it exceeds my limit, I don’t delegate, to avoid giving away more and more. It’s a bit mystical, but at least I’m no longer shouting about participation while pretending to be dead inside.

On the macro side, with expectations of interest rate cuts, it’s pretty surreal that the dollar index and risk assets move together—up and down at the same time… During times like these, on-chain governance feels more like “whoever has the loudest voice wins.” Anyway, I just treat it like a neighborhood meeting—if I understand, I vote; if I don’t, I stay out of it. That’s how I’ll do for now.