Yesterday, I saw someone again posting about "unlock calendars," with a sense of impending collapse and anxiety… To be honest, I’m more anxious about governance: once delegated voting opens, retail investors just click to delegate for convenience, and the votes flow like water to a few big addresses/research accounts. The total vote count looks quite democratic, but who ultimately governs? Most likely those few individuals’ preferences and interests.

What’s even more amusing is that some projects claim to have community co-governance, but in reality, their proposals read like riddles, making it impossible for ordinary people to judge. In the end, they can only "trust the big shots." Once oligarchic tendencies form, how parameters are changed and incentives are distributed, it gradually turns into internal power struggles. Anyway, when I look at governance tokens now, I don’t really believe in "governance," I’m more concerned about whether the information gap, middlemen, and darkroom costs can be reduced. Otherwise, voting is just another way of paying tuition.