Just now I grabbed a bit of test coins from a faucet and, on the way, checked the voting status of a few governance proposals. Honestly, I’ve been feeling pretty deeply about it lately—the governance token thing, the more I look at it, the more it feels like a small circle indulging in its own hype. Delegated voting turnout has never been able to rise, the big holders just lie there and do nothing, and small holders can’t be bothered to mess around—so in the end, the people in charge are still the same old faces. Put simply, through all this governance, who is it actually governing for?

My own mindset has been pretty steady. Just make small fixes and tweaks—no need to chase some perfect plan. As for the cycle, it’s like sunrise and sunset: move when the light is right; there’s no need to stare at the voting window every day and bicker over it. Lately I’ve been seeing a lot of testnets doing incentives—points, airdrop expectations, and so on. Everyone’s guessing whether tokens will be issued when the mainnet launches. I even grabbed a bit along the way. It’s whatever, I won’t lose, but I don’t expect overnight wealth. Just wait patiently—the light will come eventually.