It's me again, always realizing after finishing a section that "participating in governance" is a thing. Recently, I’ve been looking at delegated voting for a few projects; they say decentralization, but in reality, they just bundle votes and hand them over to a few big addresses/organizations. Whether a proposal passes or not ultimately has little to do with retail investors. Honestly, governance tokens are about "who has the louder voice, who has the stable voting power." I also go on-chain to check out these proxy addresses, just to find reasons for myself: hmm, they seem pretty professional… but deep down I know, this is pretty much oligarchic.

By the way, in the group chat these days, there's been a heated debate about the boundaries of privacy coins and coin-mixing compliance—one side says privacy is a right, the other says don’t drag projects down with it. I feel governance is similar; everyone wants "rights," but when it comes to voting day, the most honest thing is still the hands: too lazy to look into it, delegate directly, or just not vote at all. Anyway, I’m usually the latecomer. Let’s leave it at that for now.