# 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. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.defioptions.org/protocol/governance/proposal-voting.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.