# Governance Intro

The PEAKDEFI protocol is governed and upgraded by PEAK token-holders, using three distinct components; the [PEAK](https://etherscan.io/address/0x630d98424efe0ea27fb1b3ab7741907dffeaad78) token, governance module ([Governor Alpha](https://etherscan.io/address/0x1a76ff40cddbf908e3289414d54f6caa85bef0a2)), and [Timelock](https://etherscan.io/address/0x5a88bcfe2ab1a5cf720438cf605314e8ed2380d3). Together, these contracts allow the community to propose, vote, and implement changes. Proposals can modify system parameters, mint / burn PEAK tokens, or add entirely new functionality to the protocol.

PEAK token-holders can delegate their voting rights to themselves, or an address of their choice. Addresses delegated at least 10,000,000 PEAK can create governance proposals.

When a governance proposal is created, community can cast their votes and voting weights are recorded. Voting lasts for 7 days; if a majority, and at least 40,000,000 votes are cast for the proposal, it is queued in the Timelock, and can be implemented 2 days later. In total, any change to the protocol takes at least one week.

![](https://2912952422-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MGIrVj0_5_Ki3ix6PzR%2Fuploads%2FtNxHAo8IXLgC4RpwNDky%2Fgov_diagram-1-9bc9f7797121de9e8c8210d39b1c0dc3.png?alt=media\&token=0850ad29-81d0-453b-8201-05c68b091651)

### Addresses

`PEAK` token, `Timelock`, `GovernorAlpha` contracts are deployed on Ethereum network at following addresses

```
Peak Token: 0x630d98424efe0ea27fb1b3ab7741907dffeaad78
Timelock: 0x5A88Bcfe2aB1a5cF720438cF605314E8ed2380d3
GovernorAlpha: 0x1a76fF40cDDBF908E3289414d54F6CAA85beF0A2
```