Governance mechanics matter more than most realize. When a proposal requires skin-in-the-game voting—meaning you need to hold the token to participate—it creates genuine friction. That's not a bug; it's often a feature driving real demand.

Look at why certain tokens outperform: the lack of perpetual and spot market exposure on major exchanges actually works in their favor. Limited trading infrastructure means lower speculative noise and stronger price foundations. When there's nowhere easy to short or leverage trade, the token ecosystem tends to stabilize around committed holders rather than momentum traders. It's a counterintuitive edge in market structure.