I just got into bed and was scrolling through gate votes. I saw a proposal—honestly, it’s pretty interesting. On the surface it’s community governance, but underneath it’s all incentive games and power structures. For example, some proposals create a new pool and hand out some points rewards to voters, but everyone who actually votes knows that most of these votes are basically pre-decided; retail’s votes are basically just running alongside.

I’ve also been waiting for a few things lately: waiting for confirmation of the trend, waiting for a pullback to set up a position, waiting until I’ve figured out my position sizing before I act. Plainly: don’t rush to follow the herd and charge in—first, see who’s voting and who’s out there trying to rally votes.

The news about a recent tax increase in a certain region has been getting on my nerves. My psychological expectations around in-and-out fund flows have also dulled. That’s it for now—I'll talk after I’ve worked out the numbers clearly.