Recently looked at several DAO proposals, on the surface they read like "community consensus," but when I got to the end: who gets the incentives, how voting rights are distributed, who can propose and who can veto, the power structure is hidden in those small print. To put it plainly, tokens aren't given for free; they're bought with your vote, and at the same time, they make the opponents hungrier and thinner.

People in the group are still arguing whether the extreme funding rate is a reversal or just continuing to squeeze the bubble. I think it’s very similar to a DAO: when the sentiment is fed in one direction, everyone is more likely to "vote and follow," and once they realize they’re locked into the same narrative, they have to queue up to get off.

My mom just asked me, "Isn't your voting just liking?" I said pretty much... just that before liking, you first check who’s handing out candy, where the candy comes from, and whether the candy dispenser can sit on the throne forever. Anyway, now whenever I see the words "incentive optimization," I frown first.