Recently, I’ve been looking at governance proposals for several projects again, and the more I look, the more I feel that “delegated voting” is quite subtle: it’s said to be for people who don’t have time to hand over their votes to someone more knowledgeable, but in practice, it ends up with just a few addresses holding a large number of votes. I haven’t finished reading what exactly the proposal changed, but the vote has already passed smoothly… It’s a bit like a neighborhood homeowners’ committee, where only a few people keep voting.

Adding to that, now the new L1/L2 projects are incentivizing to attract TVL, and old users complain about “mining, selling,” which I can understand: governance tokens were originally meant for everyone to manage things together, but in the end, it’s more like giving liquidity providers a reason, where whoever has more votes can decide how to distribute incentives and to whom. Anyway, ordinary users are mostly just going along with the storyline.
Honestly, I now try to avoid governance pages that look like oligarchs’ domains; if I can vote myself, I do, at least it makes me feel better.
That’s all for now.