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

# Governance

Important Usage of PEPA Token

## 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.