WCT Governance Decentralization: Challenges from Symbolism to Substance
Although WCT is positioned as a governance token, current voting is limited to protocol parameter adjustments and does not involve key economic decisions (such as fee models). The foundation retains 27% of the tokens, and the top three addresses hold over 37%, posing significant centralization risks. There is a need to learn from Compound's proposal incentive system, expanding the governance scope to include token buybacks, treasury management, etc., to truly achieve 'network evolution controlled by holders'.
