Staring at the charts late into the night until my brain goes numb, I casually click into a governance proposal to take a look. Well, voting power has once again been swept up by the big whales and institutions—again and again. Proxy voting? To put it plainly, it’s big holders handing their votes to another big holder, while small retail can’t even get so much as a glimpse. So who are governance tokens really governing for? They’re governing over the “greens” who spend their nights watching charts—people like me who are burning the midnight oil—yet we can’t even get a seat at the table. And we even have to pretend we’re sleeping giant whales, so that someone can delegate votes to them with a casual click. Over on Layer2, those folks are still arguing over TPS, fees, and subsidies, with comment threads practically overflowing the screen. But at the governance layer, it’s still the same old few players playing the same old game. Forget it—I’m no more than a spectator. I’ll leave it at that; keeping the coffee going is more important.