Lately, the more I watch governance voting, the more I feel uneasy, claiming to be "community co-governance," but in the end, a bunch of people entrust their votes to a few big accounts, and it ends up like a shareholders' meeting... I'm not pretending to understand everything, but I just feel like who the token really governs: serious proposers often have no say, while those who hold the delegation relationships set the tone with a single word. What's more awkward is that I used to leverage based on "positive voting expectations," but after quitting, I realize this emotion was just fed to us.

The NFT royalty disputes are also quite similar, also claiming to be "for creators / for liquidity," but in the end, who can influence the rules? It's still those platforms and big players who can bring volume and set market standards. Anyway, I now hold small spot positions and options hedges, trying not to get caught up in the "governance narrative" and lose my head... That's all for now.