I've held enough governance tokens to approach veBR with calibrated suspicion. The vote-escrow model sounds democratic. Lock your tokens longer, earn more voting power, align incentives between long term holders and protocol decisions. Elegant in theory.
In practice I've watched ve-tokenomics concentrate power in the same three categories every time. Early insiders with large allocations and long lock periods. Protocols that accumulate governance tokens to direct emissions toward themselves. And whales who treat voting power as a yield optimization tool rather than a governance responsibility.
I went looking for veBR's actual power distribution before forming an opinion about whether it governs anything meaningfully.
The architecture is sound. Whether the humans operating inside it behave differently than every other ve-system I've examined that's the question the whitepaper can't answer.
#bedrock $BR @Bedrock
In practice I've watched ve-tokenomics concentrate power in the same three categories every time. Early insiders with large allocations and long lock periods. Protocols that accumulate governance tokens to direct emissions toward themselves. And whales who treat voting power as a yield optimization tool rather than a governance responsibility.
I went looking for veBR's actual power distribution before forming an opinion about whether it governs anything meaningfully.
The architecture is sound. Whether the humans operating inside it behave differently than every other ve-system I've examined that's the question the whitepaper can't answer.
#bedrock $BR @Bedrock