# Governance

## Overview

The governance module in the PEPA protocol consists of three components. These three component enables the community to propose, vote, and implement changes to our protocol.

1. **Token** - For voting, incentivizing users, applying discounted trading fees, and distributing dividends
2. **Governance Contracts** - Control delegation, voting, governor proposal, and proposal processing
3. **Timelock** - Keeping track of time

### Timelock

Timelock contract keeps track of the progress of proposals and implements a “time-delayed, opt-out” pattern for doing so. With a minimum delay set to one week, each proposal-related action will be published for at least one week before further actions. A common timeline for accepted proposals is "Published -> Voting -> Approval" in a three-week duration.