Recently, I’ve been looking at some protocol governance votes, and it feels like listening to an old radio station: the station says, “the community decides,” but once the signal is delayed, the real knobs have already been tightened by a few people. Delegated voting is supposed to be pretty convenient—I’ve done it too—but the more I look, the more something feels off. Put simply, you hand your vote to “professional players,” and in the end it turns into an oligarchic conclave—so the governance token is really “governing” whom…? Most likely, it’s just governing retail investors’ sense of participation.

What’s even funnier is that when the airdrop season comes around, the task platform’s anti-Sybil measures keep getting stricter. The points system turns reward-farming into something like showing up for work and clocking in. As a result, everyone is busy grinding tasks and calculating Gas—so who actually goes and reads the proposals? Anyway, now when I see the words “increase participation,” I can’t help but laugh a little.