governance turnout quietly dominates builder priorities

Ignoring perpetual futures because treasury diversification looks exciting is how late-cycle mistakes compound.
Keeping a written thesis helps avoid narrative whiplash.
Put beside current chatter on “Billions flee Binance on reopen, THORChain founder opposes coin freeze: Hodler’s Digest,” the incentive problem looks clearer.
Ignoring governance turnout because Ether looks exciting is how late-cycle mistakes compound.
The loudest story is not always the decisive one.
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