I just looked at a DAO proposal—the voting power weighting is pretty flashy. At first glance, the incentives look completely maxed out, but when you work it out carefully, the voting power is actually concentrated among a few big whales, while the tokens held by small retail users are basically just there to fill out the numbers. In plain terms, the power structure is hidden pretty deeply—just like the DA-layer narratives people hype around modular blockchains. Developers are getting wildly excited, and we users are left looking confused. It sounds simple, but the details are where all the “tricks” are. I treat “simple” as a trap—there are plenty of pitfalls like this even in things like the option funds fee rate. Anyway, for community governance, take a closer look at the proposal text itself—don’t just vote based on the title.

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