Lately, watching DAO votes has been giving me a bit of a chill down my spine. The more proposals are written "for the ecosystem," the more you have to watch who gets the control rights and who benefits from incentives. Honestly, many of these votes aren't about "right or wrong," but about "who will be in charge in the future." The same phrase "increase rewards" could mean buying votes, or it could mean pushing risks into the treasury, and when the market swings, it could lead to liquidation waterfalls.

These days, that mainstream public chain is about to upgrade/maintain, and everyone in the group is guessing whether projects will migrate. I'm actually more concerned: if the chain really got stuck for two hours back then, who held the emergency authority in the DAO? Is multi-signature control by the same group of people? Did the proposal sneak in a "temporary power" that could be made permanent? Anyway, before I vote now, I first look at the power structure, then at the narrative—survival is more important than excitement.