governance turnout quietly dominates builder priorities

Treat governance turnout as the constraint and Ether as the amplifier, not the other way around.

Ignoring wallet UX because options skew looks exciting is how late-cycle mistakes compound.

That debate sits next to today’s market focus around “'Congratulations,' Peter Schiff Reacts as Saylor's Bitcoin Treasury Sits at Cost Basis.”

Revisit assumptions weekly; markets change faster than slogans.

Most blow-ups start as comfortable consensus.

Historically, stretches where on-chain fees leads without support from perpetual futures invite sharper reversals.

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