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

# Governance

Holders of $MMDAO gain voting power proportional to their holdings. Voting proposals include:

* Selection of target trading pairs for market making
* Allocation of treasury to specific strategies (CEX vs DEX, bot type, volatility thresholds)
* Adjustments to treasury risk profiles and thresholds<br>

Governance voting takes place quarterly, with emergency proposals allowed via supermajority quorum.

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