> For the complete documentation index, see [llms.txt](https://phemex.gitbook.io/phemex-web3-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://phemex.gitbook.io/phemex-web3-whitepaper/features/phemex-dao/proposal-and-voting/voting-system.md).

# Voting System

#### Governance Power

* Users who hold Phemex Soul Pass and vePT are eligible to participate in the voting process and exercise governing power.
* The number of tokens required and the duration of the stake could be determined by the DAO and may vary based on the type of proposal being voted on.

#### Governance Proposals

<figure><img src="/files/Fes9FWekNk7FN8NpBjUi" alt=""><figcaption></figcaption></figure>

**Initial Discussion**

Users who are eligible to participate in the voting process can discuss and brainstorm proposals in a designated Discord #dao-proposal forum.

**Request for Comments Assessment**

* Initiating a proposal: A user who is eligible to participate in the voting process can submit a proposal for consideration. The proposal should include details about the issue or decision being proposed, as well as any relevant information or arguments.
* Commenting / Discussion period: All eligible users can comment on the proposal and engage in discussion to provide feedback and ideas.

**Improvement Proposal Voting**

* Announcing the Voting: Once the commenting period is over, the proposal can be revised based on the feedback received and formally announced for voting.
* Announcing the voting result: All eligible users can cast their votes on the proposal through a designated voting platform, and the results will be announced once the voting period is over.

**Execution & Update**

If the proposal is approved, it will be implemented and any necessary updates will be made to the organization's policies or procedures.

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