If Binance is a state-owned enterprise and BSC is a state-owned enterprise chain, then all of this makes sense In my previous article, I talked about the extreme danger of Binance conducting on chain coups. Suddenly, a friend told me that if you could accept a premise - "Binance is a state-owned enterprise, BSC is a state-owned enterprise chain", suddenly all of this became clear, and I even began to admire Binance's precise and thorough implementation. You think you can influence the allocation of emissions, but in fact, that's the leader making you feel involved. You think this is a reform, but in fact it is a 'cadre adjustment'. You think it's a lightning vote, but it's actually 'the organization has studied and decided'. Abolishing governance is not an accident, it is a plan. Isn't what happened on BSC just a 'on chain state-owned enterprise restructuring'? What did Cakepie do wrong? No, The only problem is that they are too 'private' and have too much influence. This is glorious on the chain, but dangerous under the logic of state-owned enterprises. So, a chain reform of "concentrating efforts to accomplish great things" quickly landed. Do you think it's a governance adjustment? No, it's' organizational cleansing '. Do you think this is just a vote? No, this is a 'power grab on the chain'. You can't even say 'Binance has taken action' because this is a common 'shadow operation technique' used by state-owned enterprises: not showing up, but controlling the overall situation. And the most classic one is that this governance "rectification movement" occurred on the chain, within the rules, with legal processes, and everything followed procedural justice. This is the advanced aspect: you have no formal reasons to object. From then on, the "new era" of BSC governance officially began, and we even have to thank this coup because it exposed everything. The behavioral logic of Binance and BSC has finally been perfectly interpreted: Voting is just a tool of formal democracy, and power does not belong to those who lock it in; DAO is only a temporary mobilization method needed, and it will eventually return to the "parental governance track"; The so-called decentralization actually refers to "phased decentralization and ultimate recycling". All of this is not governance failure, but governance completion. It's not the collapse of DAO, but the consolidation of DAO by state-owned enterprises. Welcome to the new era of 'Web State Owned Enterprise 3.0', where every vote is a ceremony for you to confirm your obedience. As you said, Binance is a state-owned enterprise and BSC is a state-owned enterprise chain. Therefore, this "on chain cleanup" that occurred under the name of governance is not only reasonable, but also admirable for its technical accuracy and execution. However, it does not belong to DeFi. It also does not belong to the free world of encryption. It belongs to the planned economy, on chain version.