Recently, an interesting phenomenon has been observed: many emerging crypto protocols are trying to hand governance rights over to token-holding users. Take Walrus Protocol as an example, where participants holding its tokens can directly participate in protocol upgrade votes, proposal discussions, and even key decision-making. This model may seem simple, but in fact, it changes many things — transparency is significantly improved because every step is verifiable on-chain; on the other hand, the development direction of the ecosystem is truly driven by the community, rather than a single team making unilateral decisions.

In plain terms, it’s about returning the voice to the participants. Such practices are rare in the industry. When everyone’s voice can be heard, the sustainability of the ecosystem naturally becomes stronger. Some say this is idealism, but from the actual results, this transparent and inclusive governance approach indeed promotes innovation across the industry.