Lately, reading governance voting records has become more and more boring: a bunch of addresses claiming to be "the community," but through layers of delegation, in the end, it's just a few big wallets making the decisions. Who exactly does governance tokens govern? Honestly, it’s like outsourcing decision-making to "seemingly professional people," and ordinary users voting or not makes little difference, at most giving oligarchs a boost in participation rates.

What I care more about are those staged transfers, route changes, and flows into exchanges—claiming decentralization while positions are always ready to be withdrawn... It’s quite realistic. Recently, social mining and fan token schemes have become popular, with the idea that "attention is mining." My partner complains: you spend a whole night scrolling on your phone and don’t mine any electricity bills, but you end up enriching others’ governance power. Sigh, for now, I’ll keep watching the inflows and outflows on-chain—at least the numbers don’t lie.