> For the complete documentation index, see [llms.txt](https://docs.element.market/developer/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.element.market/developer/contract-governance.md).

# Contract Governance

## Architecture

ElementEx is implemented as an upgradeable proxy, it proxies all logic to the ERC721OrdersFeature/ERC1155OrdersFeature implementation contract, but storage values and status for them.  

![Contract Governance](/files/SntbZqRHEf8tFLEQN9zb)

## Governance

Element Contract is under governance of Timelock Controller and Multi-sig Wallet. 

### Timelock Controller

Element's Timelock is a smart contract that delays function calls from multi-sig smart contract after 5 days has passed. 

### Multi-Sig Wallet (Phrase1)

Multi-Sig Wallet is a smart contract controlled by 5 member, the members are from core team and  investors. Each proposal must be agreed by at least 3 member, the transaction will queued to timelock controller, after 5days, it will send to ElementEx for final execution.

### ElementDAO (Phrase2)

Element will eventually turn to DAO governance. Each proposal are vote by every token holder.