2025-12-23 08:24:50

The recent turmoil surrounding AAVE has made it clear that the idealism of Blockchain is hard to stand firm in reality.

I heard that DAO community governance seems very democratic, but in essence, it is still controlled by a small circle. As long as the power figures want to bypass the community, there are ways to do so. No matter how angry the community is, it cannot change the fundamental power structure.

Resistance? The most ruthless way is to crash the market. What was the result? It instead made things cheaper for those in power. This is awkward.

AAVE, as the top player in DeFi lending and the spiritual embodiment of on-chain finance, can only achieve this step. Under a stock ownership system, the second largest shareholder teaming up with small and medium shareholders would have long since pushed the founder out. Luckin Coffee is a living example—second largest shareholder Lu Zhengyao was ousted, and small and medium shareholders drove that management overhaul, which led to a genuine recovery. That is real company governance.

Compare it to now, many altcoins are becoming less like stocks and instead resemble some sort of powerless mascot. The power structure is rigid, and the community only participates in crashing the market. This is not democracy; it is an illusion.

AAVE0.52%

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DegenDreamer

· 12-23 09:00

To be honest, dumping actually made it cheaper for the market maker, this cycle is quite desperate.

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SchroedingerGas

· 12-23 08:56

The power is in the hands of the founders, and the community's dumping instead gives them the opportunity to buy the dip. This tactic is just too brilliant.

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0xSherlock

· 12-23 08:48

Dumping is really the most powerless resistance, instead it hands a knife to Large Investors. DAO governance is like this, the promised Decentralization still turns to look at the founder's face. The democracy in the crypto world feels like the emperor's new clothes, everyone pretends not to see it. If the power structure doesn't change, the community will always be the suckers being played for. Compared to the traditional equity system, this web3 system is indeed disappointing, at least there is still a board of directors to balance it. The ideal is very beautiful, but the reality is a small circle playing games, and we just watch the fun. The governance of DAO has become a joke, making people feel that the governance of shareholding enterprises is more transparent.

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PancakeFlippa

· 12-23 08:37

To put it bluntly, dumping only hurts both oneself and others; the key issue is that the power structure cannot fundamentally change, which is the most painful part.

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