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Quorum & Requirements

Holders of JPEG can create or vote on governance proposals that shape and oversee the protocol. Such proposals may include, but are not limited to, changing debt limits on vaults, changing deposit, interest, insurance, or any other type of fees, adding new NFT collections, approving increased credit limits for certain NFTs, etc.
Votes are conducted on our Snapshot page, which you can find here. Votes are approved if they attain over 50% of the votes in support. Additionally, valid proposals must pass quorum. Quorum is 4% of the total supply (2,776,800,000 JPEG). If a proposal achieves 50% of votes in favor, yet does not meet quorum, it will not pass as it is not a valid, binding proposal.