# Governance and Voting Mechanism

**Language:** [Русский](../ru/governance.md) | [English](governance.md)

**Navigation:** [← Contents](https://github.com/VC-HB3-Accelerator) · [For investors](for-investors.md) · [Business model](business-model.md) · [Financial calculations](financial-calculations.md)

This document describes **governance of the VC HB3 Accelerator fund** and the rights of holders of **fund governance tokens**.

Important: this is a separate contour from **DLE license tokens**.  
Voting by license-token holders on licensed product development is described in [service-terms.md](https://hb3-accelerator.com/gitea/VC-HB3-Accelerator/DLE/src/branch/main/legal.ru/service-terms.md).

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## Distribution of fund governance tokens

| Participant | Share | Tokens |
|----------|------|--------|
| Founder | 70% | 2,100,000 |
| Investors (LP) | up to 30% | 900,000 |
| **Total** | | **3,000,000** |

LP investors receive fund governance tokens and effectively become GPs with voting rights — not only dividend rights, but real participation in governance.

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## Quorum and voting mechanism

### Quorum for decisions

- **Initial quorum:** 51% of all governance tokens
- **Dynamic change:** quorum is set by token holders via voting
- **Protection against sole control:** quorum can be raised to 70%, meaning the founder (70%) cannot pass decisions without investor consent

### How it works

1. Token holders may propose a quorum change through the voting system
2. Changing the quorum requires a vote under the current quorum (51% or higher)
3. At a 70% quorum, the founder cannot decide unilaterally
4. This protects the interests of investors (30%)

### Technical implementation

- On-chain voting via smart contracts (ERC20Votes)
- Each token = one vote
- Results are recorded on-chain and available for verification

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## Fund voting procedure

**Who may create proposals:** all holders of fund governance tokens.

### Process

1. **Proposal creation** — any token holder
2. **Discussion period** — the proposal is opened for discussion
3. **Voting** — holders vote for or against
4. **Tally** — proportional to token holdings
5. **Decision** — if votes in favor are >= quorum

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## Balance of founder and investor rights

### At 51% quorum

The founder (70%) can pass decisions unilaterally, because 70% > 51%.

### At 70% quorum

The founder cannot pass decisions without investor consent. Investors (30%) effectively gain a veto.

### Investor rights

- Voting participation with weight up to 30%
- Creating proposals for voting
- Blocking decisions at 70% quorum
- Access to reports and financial data
- Access to accelerator projects
- Co-investment in deals

### Minority protection mechanisms

1. Raising quorum to 70% via voting
2. Right to create proposals and initiate votes
3. Transparency — all decisions on-chain
4. Access to financial reports and metrics

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## Reporting

- Regular reports on treasury inflows
- Information on profit distribution (15% / 15% / 70%)
- Reports on portfolio companies
- All transactions are transparent via blockchain

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## Additional materials

- [For investors](for-investors.md) — investment offer, rights, risks
- [Business model](business-model.md) — revenue sources, structure
- [Financial calculations](financial-calculations.md) — return scenarios
- [License terms](https://hb3-accelerator.com/gitea/VC-HB3-Accelerator/DLE/src/branch/main/legal.ru/service-terms.md) — separate document on license tokens and product-development voting

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**Last updated:** 2026-02-19