Delegated voting is pretty convenient, to be honest, but over time it starts to distort: a bunch of people hand over their votes for peace of mind, and in the end governance feels like "choosing a fund manager," not setting rules. Who does governance tokens really govern? It seems more like governing those who still take voting seriously... Oligarchization isn't a conspiracy; it's path dependence. Those with large holdings and the ability to mobilize are naturally louder. Recently, people have been fixated on staking unlocks and unlock calendars. I understand the fear of selling pressure, but what I worry about more is voting power concentrating along with liquidity: when subsidies are high, everyone chases APR, and votes get bundled and moved along. Anyway, now I tend to ask more when I see "high yield + delegatable": where does the cash flow come from, and who will vote for you when subsidies stop? That's all for now.