# Contract Governance

### Contract Governance

### Architecture <a href="#architecture" id="architecture"></a>

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

### Governance <a href="#governance" id="governance"></a>

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

#### Timelock Controller <a href="#timelock-controller" id="timelock-controller"></a>

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) <a href="#multi-sig-wallet-phrase1" id="multi-sig-wallet-phrase1"></a>

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) <a href="#elementdao-phrase2" id="elementdao-phrase2"></a>

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

[PreviousContract Overview](https://docs.element.market/welcome-to-element/developer/broken-reference)[NextDeployed Contract](https://docs.element.market/welcome-to-element/developer/broken-reference)

Last updated 2 years ago