> For the complete documentation index, see [llms.txt](https://docs.defioptions.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.defioptions.org/protocol/governance/proposal-voting.md).

# Proposal Voting

A proposal is defined as a (verified) smart contract that follows a specific template provided by **Defi Options**. Token holders that meet a minimum share of the total supply of governance tokens are allowed to submit proposals for voting [🗳️](https://emojipedia.org/ballot-box-with-ballot/) by the DAO.

The voting phase will be open for a specific period of time, after which the proposal is marked either as approved or rejected, depending on the amount of "yea" or "nay" votes it's received.

If approved, the proposal will be granted "administrative" privileges for calling functions for updating the protocol's settings. This approach allows for a flexible governance model.

If rejected the proposal is simply ignored, and won't be executed nor be granted any privilege that would allow it to modify protocol's settings.


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