> For the complete documentation index, see [llms.txt](https://bitsmiley.gitbook.io/bitsmiley-native-btc-backed-stablecoin/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bitsmiley.gitbook.io/bitsmiley-native-btc-backed-stablecoin/core-start-contracts/governance-module.md).

# Governance Module

Module Name: Governance Module

1\. Introduction

The governance module includes SMILE voting, execution of governance procedures, and proposal initiation.

2.Core Mechanism

bitSmiley's decentralized governance will be conducted based on SMILE. Key protocol parameter adjustments, such as changes to the total issuance of bitUSD, addition or removal of collateral types, and adjustments to collateral LTV ratios, will be determined by SMILE holders. When a user submits a proposal to the governance protocol, SMILE holders will vote on it. The proposal will pass and be executed if it meets the minimum SMILE threshold within the specified time frame and receives over 50% approval from the voters.

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