Actual operation of the governance mechanism:
The holder of $WAL should pay attention to their governance system. Currently, 7 proposals have been passed, with a voting approval rate of around 40%—this data actually indicates significant community divisions.
The most recent passed proposal is about adjusting the staking reward release cycle, with opposition votes accounting for 35%. Participating in voting requires staking at least 5000 WAL, which may deter some smaller participants.
One detail worth noting:
The governance contract sets a 48-hour cooling-off period, which is longer than many other projects. Although this reduces efficiency, it allows for more thorough discussion.
I've observed that the voting rates for the last three proposals have all been around 15%, to be honest, this level of participation is not high. If governance tokens lack real participation in governance, their value support will weaken.
