Recently, I’ve been feeling a bit powerless when looking at governance proposals… Many votes are actually “delegations” piled up, in other words, the voting power is packaged and handed over to a few familiar faces. Tokens claim to be “governance,” but in the end, who is actually being governed? It’s more like managing ordinary people’s trouble: changing parameters, shifting incentives, clicking on the voting page and you’ve already lost, with information asymmetry and time costs standing there.

What’s more awkward is that everyone is still arguing loudly about Layer 2 TPS, fees, and subsidies, but the ones who truly decide how subsidies are distributed and to whom are often just those few large delegation addresses. Anyway, when I look at votes now, I first check the boundary conditions: can they be withdrawn, is there a limit, who presses the emergency switch… I don’t want to argue, I just want to avoid pitfalls.