Why 97% of DeFi Investors Lost Money in the Bull Market—And What No One Told You About Lido DAO’s Hidden Voting Trap

I still remember the night I first saw it: a quiet vote on Lido DAO that changed everything.

The proposal passed with near-unanimous support—53.6M LDO in favor, just barely above the threshold. But beneath those numbers? Only 1.18 million LDO tokens stood against it. That tiny minority? They were stETH质押者—the real owners of the chain.

They didn’t cheer. They didn’t tweet.

They used their stakes to delay decisions.

Meanwhile, ReSupply—a DeFi protocol—just lost $10M in bad debt. Their ‘rescue’? A token dump disguised as governance.

OneKey founder Yishi called it what it is: ‘rug pull from your wallet.’

And then came FIUSD—a stablecoin backed by Fiserv, PayPal, Circle—designed to replace cash but built on Solana’s brittle infrastructure.

I asked: If you can vote on who gets paid… but you’re not allowed to withdraw?

The data doesn’t lie—but your emotions do.

Trump’s approval rating hit historic lows? Sure. But here? When algorithmic voting replaces human judgment? That’s when the market turns cold—and your money vanishes silently into smart contracts.

We think we’re building democracy. We’re not. We’re building dependency.