> For the complete documentation index, see [llms.txt](https://docs.gbm.auction/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.gbm.auction/gbm-tokens/governance-and-voting.md).
# Governance & Voting
### 🗳️ Community Governance
The GBM Protocol is governed by its community, with every $GBM token holder having the right to vote on key protocol decisions, ranging from token buybacks, technical upgrades to reward mechanisms, distribution periods, incentive parameters and more.
Governance is coordinated and facilitated by the **GBM Foundation**, a neutral steward whose role is to propose, implement, and uphold the will of the community.
### ⚙️ How It Works
* Each proposal put to the floor has a clearly defined **voting window**
* **Voting is open to all token holders**
* A proposal passes if it receives **more than 50% approval**
* All accepted proposals are executed by the **GBM Foundation**
* **1 token = 1 vote**
All governance activity will be accessible through the **GBM Dashboard**, where proposals are submitted, discussed, and voted on transparently and on-chain.
### 🔄 Progressive Decentralisation
In the early phases, most proposals will originate from the GBM Foundation, ensuring a stable, responsible rollout. Over time, this will evolve to a more community-driven process, with proposal rights extended to a wider range of token holders.
The long-term goal is to **fully decentralise governance**, with protocol direction, features, and incentive structures driven entirely by community participation.
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