According to CoinMeta, research cited by Cryptoslate indicates that in 2026, for 48 large Ethereum DAO, the actual governance power was still highly concentrated. In 39 of these projects, the top ten token holders controlled more than half of the voting rights, and delegated voting tended to be even more concentrated than direct voting. Among 36 projects that required registration for governance rights, only about 21% of the total token supply was actually registered on average. Taking Proposal 289 of Compound as an example, this proposal was passed after a surge in supporting votes towards the end of the voting period, aiming to transfer approximately 499,000 COMP tokens. However, the related fund allocation was later canceled through a settlement. Subsequently, Compound introduced a veto mechanism to allow for intervention before the implementation of abnormal governance outcomes. The study points out that while such "emergency brakes" can reduce the risk of governance attacks, they also lead to a further concentration of control in the hands of a few entities, forcing DAO to continuously face a trade-off between automatic execution and manual intervention.