Web3 was supposed to change everything.
It promised decentralisation, equality, and participation — a new era where users weren’t just consumers but co-owners. Web3 is where protocols are governed by communities, and power is finally distributed.
Should we rethink how web3 and tokens work, or is it too late?
But somehow, along the way, most of us ended up watching from the sidelines.
Today, millions of users interact with dApps, hold tokens, and navigate DeFi — but how many are truly represented?
Participation in governance is low. Token voting is dominated by whales. “Decentralized” often means little more than a Discord server and a multisig wallet controlled by a handful of insiders. Even DAOs, which were supposed to be the solution, are often structured around financial weight rather than shared responsibility.
You don’t really get a vote – unless of course, you can afford one.
In theory, governance tokens were a brilliant concept. In practice, they replicate the same imbalances we were trying to escape. Decisions about protocol upgrades, treasury allocations, and product roadmaps are routinely influenced — or outright decided — by a small group of large holders.
For the average user, the only real power left is the power to leave.
You can “vote with your wallet,” but that’s just another way of saying: take it or leave it.
Web3 interfaces are smooth. The UX has improved. But most platforms treat users as traffic — not stakeholders.
You use the product. You generate value. But you don’t help shape it.
“Every protocol claims to be decentralized — but how many users actually feel included in the decisions? Until that changes, we’re still in Web2.5.”
— Alex Guseff, CEO of Tectum
What happened to the user as co-owner?
Participation should be more than a passive option buried in a governance tab. It should be designed into the very core of the ecosystem — not just a link at the bottom of the site.
Maybe it’s time to rethink what participation means.
Not just in terms of votes or forums – but in the way utility is distributed.
In the way value is earned, not extracted.
In the way tokens actually work for people, instead of just around them.
Because a real Web3 future doesn’t look like another boardroom with token holders — it looks like an ecosystem where everyday users have real influence, not just wallets to wave.
