I've recently been looking at DAO proposals, and it feels a bit like reviewing contracts... On the surface, it says "incentivize contributors," but in reality, it's about changing who can sign multi-signatures, who can operate the treasury, and who has a lower proposal threshold. To put it simply, incentives are just the sugar coating; the real medicine is the power structure. If you ignore this part when voting, you'll just be waiting to be "governance optimized" out.

And then there are those who embed rewards into the voting process: you vote, and you get a subsidy. It sounds quite democratic, but it's actually more like buying participation rates. In the end, whoever writes the best proposals and pulls the most votes wins.

By the way, I’ve been a bit slow to react to the recent AI Agent/auto-trading setups... Everyone's talking about "automatic on-chain interactions," and my first thought is: who has the permissions? Can the contract be upgraded? Which route does it take? Will MEV just use you as an ATM? Anyway, whenever I see the words "automatic execution," my first instinct is to look for the revoke button.