# Governance & Voting

## Voting requirements:

***veXB3 and Quorum.***

As XB3 Finance is a sufficiently decentralised protocol, any community member may propose protocol changes. Below are the rules of proposal acceptance:

* 20% of veXB3 is needed to vote in order to achieve quorum (ie. The vote is valid when a minimum of 20% of veXB3 has voted on it.)
* Majority of votes required to pass.
* Proposals must be listed on gov.xb3.finance
* Snapshot (<https://snapshot.org/#/xbefinance.eth>) vote must link to the <https://gov.xb3.finance> proposal
* A minimum of 24 hours must be given to the proposal prior to start to allow community contribution, and a vote must run for a minimum of 48 hours. The more time the better.

## History of governance and voting:

* [XIP1 (XBE improvement proposal 1),](https://gov.xbe.finance/t/rewards-protocol-fees-and-liquidity-upgrade/82) was put forward by the team 3 May 2021 and [accepted](https://snapshot.org/#/xbefinance.eth/proposal/Qma8n5n5ptQtQaiZ6kkXbGaWjVcktR4vZwdrM4qM4dRH49) by the holders of XBE on 28 May 2021.
* [XIP2 ](https://gov.xbe.finance/t/xip2-reward-update-proposal-passed/122)
* [XIP3 (Bug Bounty Proposal)](https://gov.xbe.finance/t/xip3-xbe-finance-bug-bounty-passed/124)
* [XIP4 (Hive Test Allocation)](https://gov.xbe.finance/t/xip4-xbe-hive-reward-allocation-test-week/131)
* [XIP5 (XBE Hive Reward Allocation)](https://gov.xbe.finance/t/xip5-xbe-hive-reward-allocation/133)
* [XIP6](https://gov.xbe.finance/t/xip6-dao-hired-developers/138)&#x20;
* [XIP7 (XBE Hive Reward Ramp Up)](https://gov.xbe.finance/t/xip7-xbe-hive-reward-ramp-up/141)
* [XIP8 (DAO Leadership Colony Implementation)](https://gov.xbe.finance/t/xip8-dao-leadership-colony-implementation/143)
* [XIP9 (Emission Reduction)](https://gov.xbe.finance/t/xip9-emission-reductions/144)
* [XIP10 (Protocol Migration)](https://gov.xbe.finance/t/xip10-protocol-migration/146)