When it comes to DAO voting, it seems very democratic on the surface, but if you read to the end, it often boils down to "who pays, who makes the decisions"... These days, I’ve been bouncing between a few L2s, casually checking proposal texts and on-chain voting records. Many incentive schemes actually tie voting power directly to rewards: a "temporary bonus" airdropped before voting, then directing emissions to specific pools afterward. Basically, it’s using subsidies to buy passing rates. When a new L1/L2 pulls in TVL, people start complaining about “mining, liquidity, and selling,” which I understand. Veteran users contribute activity, but once rules change, their earnings and influence are taken over by new liquidity providers. Now, when I look at proposals, I focus on three things first: who can change parameters, who gets the rewards, and who takes the blame if it fails… Don’t just look at how good the headline sounds.