Governance Tokens Are Bigger Scams Than Memecoins

Governance tokens like Uniswap and Arbitrum tokens are the biggest scams in the crypto industry, and imo it's ridiculous how nobody talks enough about this.

Most of these projects have their own "foundations" (e.g., Uniswap foundation) where they do not need to answer to the governance token hodlers, and the founders are always the leaders of these foundations. The big VCs who funded these foundations often have equities/stake in the foundations and get the governance tokens for free (e.g., a16z has equity in Uniswap foundation, but average UNI hodlers do not).

The prime example of how useless the governance token is actually Arbitrum, where arbitrum foundation intentionally ignored the majority of the token hodlers' votes simply because they disagreed with them.

So, while the SEC argue about Ethereum being security or not, they should have just sued all these foundations who issued worthless governance tokens.