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# System prepended metadata

title: polywrap-proposal-process

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title: polywrap-proposal-process
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## Polywrap Proposal Process

### 1. Discussion

3 days to discuss merits of proposal

### 2. Voting

Quorum depends on proposal type:

1. **Spending Proposal** – Any proposal that distributes digital assets from the multi-sig
    - 5% of circulating tokens must vote
    - 50%+ of votes must be yes
2. **Governance Proposal** - Any non-spending decision, such as legal agreements, major product decisions, strategic partner additions
    - 10% of circulating tokens must vote
    - 60% of votes must be yes

### 3. Voting results
PASSED —> Notify foundation director of results
NOT PASSED —> Revise proposal and start from step 1

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## Foundation Director Duties

**Once a proposal passes, the director would be sent an email with a document detailing the proposal, voting results, and a signature request.**

The director has **3 business days** to sign or veto the proposal.

If the director doesn’t respond within 3 business days, the DAO may implement the proposal.

If the director vetos the proposal, he’ll need to provide a detailed reason why.  The DAO can then counter-vote if the following quorum is met:

**• 20% of circulating tokens must vote
• 60% of votes must be yes**