Recently, governance has become both funny and frustrating: people say "community decision," but a bunch of folks just delegate their votes to a few familiar faces, since they’re too lazy to review proposals. Basically, governance tokens ultimately control not the protocol itself, but who can hold the largest delegation… I even specifically checked the on-chain voting packing order and nonce to see if someone was manipulating the timing of their votes. The conclusion isn’t really a conspiracy; it’s just that the process makes it too easy for power to concentrate. Even more absurd is that some call for decentralization but are daily anxious about unlock schedules and selling pressure, and they still delegate their votes to others—it's quite surreal.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned