Sometimes I genuinely find it quite funny. With governance tokens—on paper, everyone votes—what happens in reality? Whales delegate their voting power away, small holders can’t be bothered to participate, and in the end, it’s still a few big protocols and foundations calling the shots. I’ve looked up on-chain voting records for a few proposals—some voting power is concentrated in the hands of a handful of addresses. Put plainly, it’s just oligarchy wearing a democratic costume. Lately there have been more security incidents: everyone’s busy rushing to buy hardware wallets to protect against phishing, but no one talks about the governance structural loopholes. The real risk may not be that your wallet gets hacked—it may be that your “rights” have already been taken away in practice. Anyway, I’m not motivated to stake for votes anymore. I’ll wait and see first.