> ## Documentation Index
> Fetch the complete documentation index at: https://mintlify.com/p2pdotme/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Token-Holder Governance

> How token holders control protocol parameters and decisions

The target model gives token holders direct control over protocol parameters, treasury, and upgrades.

## Governance Parameters

| Parameter         | Value                                 |
| ----------------- | ------------------------------------- |
| Voting Power      | 1 staked \$P2P = 1 vote (delegatable) |
| Voting Delay      | 1 day                                 |
| Voting Period     | 7 days                                |
| Standard Quorum   | 4%                                    |
| Critical Quorum   | 20%                                   |
| Standard Majority | 50% + 1                               |
| Critical Majority | 66% supermajority                     |
| Timelock          | 7 days before execution               |

## Voting Mechanics

### Voting Power

* **1 staked \$P2P = 1 vote**
* Voting power is **delegatable**
* Only staked tokens count for governance

### Proposal Thresholds

<Tabs>
  <Tab title="Standard Proposals">
    **Standard Quorum:** 4% of staked tokens must participate

    **Standard Majority:** 50% + 1 of votes cast must approve

    Used for routine parameter changes and non-critical updates
  </Tab>

  <Tab title="Critical Proposals">
    **Critical Quorum:** 20% of staked tokens must participate

    **Critical Majority:** 66% supermajority required

    Required for major protocol upgrades, treasury spending, and structural changes
  </Tab>
</Tabs>

### Timeline

1. **Voting Delay:** 1 day after proposal submission
2. **Voting Period:** 7 days for voting
3. **Timelock:** 7 days before execution (if passed)

## Governable Parameters

Token holders can control:

<CardGroup cols={2}>
  <Card title="Fee Structure" icon="percent">
    Fee percentages and spread configuration
  </Card>

  <Card title="Staking Rules" icon="layer-group">
    Staking requirements and slashing conditions
  </Card>

  <Card title="Volume Limits" icon="gauge">
    Transaction volume limits and caps
  </Card>

  <Card title="Treasury Allocation" icon="vault">
    How protocol revenue is deployed
  </Card>

  <Card title="Smart Contracts" icon="code">
    Protocol upgrades and contract changes
  </Card>

  <Card title="Token Whitelisting" icon="list-check">
    Which tokens can be used in the protocol
  </Card>
</CardGroup>

## Additional Resources

<Info>
  For contract-level governance detail (roles, permissions, dispute mechanics), see [For Builders](/builders/start-here).
</Info>