I just looked at a project proposal voting session—the delegation rate is almost 80%, but in reality there are only a handful of voting addresses. As for proxy voting, let’s put it plainly: it’s just shifting power from one big holder to another big holder, only under a different disguise. When it comes to governance tokens, they initially shouted “everyone is equal,” but when you look at it now, regular people can’t even finish reading proposals, let alone doing any research. As for me, I’m not very interested in voting right now—unless it truly affects my own interests.

Recently, the RWA on-chain U.S. Treasury product wave has been pretty lively. When I compare the return curves, honestly, I’m a little tempted—but I’m also afraid it’s just a whole new packaged scythe. When there’s too much information, I generally follow one principle: if I can’t understand the complexity, it’s the same as having no exit route. In any case, don’t deceive yourself into thinking you can research everything thoroughly—first figure out how you’re going to get out.