The situation with AAVE's drama has made me once again feel that the idealism of blockchain is not feasible in today's world.

The so-called DAO community governance is essentially still the autonomy of small groups. If someone with real power in the small group forcefully bypasses the community to implement their own authority, the community lacks the essential control capability.

The only form of resistance possible is to angrily crash the market, which might make those in power even happier, as the chips become cheaper.

However, this is the top leader in DEFI lending, AAVE, the spiritual totem of DEFI & blockchain DAO, and it can only reach this extent.

If it were equity, the major and minor shareholders could unite to drive out the founder, just as seen in the management overhaul of Luckin Coffee. The second shareholder united with minor shareholders to directly oust founder Lu Zhenyao, which truly achieved the revival of Luckin Coffee; this is real corporate governance.

It feels like altcoins are becoming less like stocks and instead resembling simple mascots.