ON GOVERNANCE TOKENS: If you want number to go up, you need to make sure the governance is actually good 🤣 Three years ago, Lido had a vote to do the right thing for itself and ensure that it didn't become a threat to Ethereum by capping at 1/3 of Eth staked so as never to put finalization in jeopardy Instead Lido voted 99.8% to try to take over Ethereum staking and become the de facto governance token for all of ETH. It was an interesting theory - if they took over staking, then LDO would be worth multiples more (though obviously at the direct expense of ETH) Facing the threat of Lido as a centralization vector, the Ethereum community fought back. Lido is now down at about 25% of ETH staked What happened to LDO? It's gotten rekt LDO is down 70-80% vs ETH.