To be honest, I’ve been getting a bit too obsessed with watching DAO votes lately. Some proposals seem to be about distributing the treasury and building the ecosystem on the surface, but once you dig into the terms, you see the incentives are all tilted toward the core team and their own holders; even if the community has bigger voting power, it’s often steamrolled by a few committee members with more votes. Anyway, I’ve tried voting for a few “radical reforms,” but it never worked out—basically, the power structure is just too rigid. In the past couple of days, the funding rates have been extremely outrageous. The community is arguing for a reversal, but looking at on-chain activity, the capital moving hasn’t stopped either. It feels a lot like the interest games hidden in these proposals—thinking there’s choice, but it was calculated long ago. I still believe this “decentralized governance” thing can have a new play, but I don’t know when.