> For the complete documentation index, see [llms.txt](https://docs.axiomprotocol.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.axiomprotocol.io/protocol-design/governance-by-staked-value.md).

# Governance by Staked Value

No governance token exists.

* Top 50% stakers: create markets, propose outcomes, and vote in initial resolutions.
* All stakers: participate in escalated resolutions.

Protocol parameter changes follow stake-weighted processes: supermajority (>⅔ of total staked value) required to execute changes. Penalty adjustments include safeguards (cooling period, range limits, proportionality).


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