Curve governance has changed! 1700万 $CRV proposal for development funding was jointly vetoed by Convex and Yearn, as the founder's influence yields to capital.
This is not just a simple proposal being vetoed, but also marks a new stage in DeFi governance: the end of the "money-giving model" that just gives money when asked, and DAOs begin to question funding efficiency and transparency. The community is not opposed to funding, but demands a clear roadmap, measurable benefits, and financial constraints—governance is moving from rough to fine.
The ve model highlights its design characteristics: voting rights are tied to cash flow, and long-term locked assets filter out the "capital groups" that focus on long-term value. Ordinary users, in pursuit of liquidity, delegate tokens to protocols like Convex, causing governance rights to become increasingly concentrated in the hands of large stakeholders. The founder initiates a proposal but must look at capital's "face", as Curve governance has entered the "elite-led" era.
In the future, the core decision-making of DAOs will shift from the founding team to capital players with long-term game capability. Is this progress in governance or a return to centralization? Time will provide the answer, but there is no doubt that DeFi governance is undergoing deep reconstruction. $ETH $UNI
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