I tried participating seriously in a DAO vote once, and it turned out to be less about “choosing the right direction” and more like uncovering the incentives and power structure hidden inside the proposals: right before voting, there’s suddenly an airdrop of “little subsidies,” the discussion forum instantly gets lively—but on closer inspection, the terms actually pull the execution power back into the hands of those few people… to put it plainly, it’s like luring you onto the same vote with candy. Later, I learned my lesson: first check who can change parameters, who can move the funds, and whether the opposing votes have a real “brake,” otherwise casting your vote feels like merely going through the motions.

Recently, funding rates have been extremely volatile. In the group, people are arguing about whether to flip the direction or keep squeezing out the bubble—I think it’s a lot like voting: once emotions flare up, incentives push people toward the same direction, and the more heated it gets, the colder you need to be to look at the cause-and-effect chain. That’s it for now. Anyway, I’d rather participate less than end up as part of the “atmosphere crew.”