I just went through a DAO proposal, and the voting page is formatted like community self-governance. But when you look closer, the core incentives are all aimed at whales and market makers, and small retail holders can spend half a day voting and still can’t even cover the transaction fees. To put it bluntly, many proposals are just a rebranded “carrot-and-stick,” and the power structure has already been written into the smart contract. As for those social mining and fan tokens people have been pushing lately—the whole “attention is mining” pitch—I’m seeing it as the same old thing. Once liquidity gets pulled, attention turns straight into a negative asset. Anyway, I’m cautious; I only dare to set a take-profit and get out quickly. That kind of voting power should be left to the real believers who genuinely care about consensus.

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