Recently, I’ve been feeling a bit powerless about governance voting, claiming it’s “community governance,” but a bunch of votes are delegated back and forth, and in the end, it seems like a few people’s workgroup making decisions. To put it plainly, who does the token governance serve? It serves those who want to take it easy, and also conveniently concentrates voting power more and more; oligarchization is either a conspiracy or a result of laziness and incentives working together.

These days, someone is comparing on-chain “profit products” with RWA and US bond yields, and I also find it overwhelming: the yields look similar, but who bears the risk behind them, who can change the rules, are quite different. The person also complained to me, “Aren’t you a dollar-cost averaging enthusiast? Why are you obsessing over voting every day?” I don’t know either, maybe just afraid that if the rules change someday, the spectators will also be stripped of a layer of skin… Making notes first, don’t get carried away.