# vlPEAS (Governance)

Peapods governance is powered by vlPEAS, a value-accruing wrapped form of the native $PEAS token. Users acquire vlPEAS by wrapping PEAS, granting them direct voting rights over protocol strategy, Metavault capital allocation, and Treasury deployment.

Unlike traditional vote-escrow models, vlPEAS requires no fixed lockup period, and voting weight is determined solely by the amount of vlPEAS held. This structure enables flexible yet aligned governance participation while maintaining protocol decentralization.

### **vlPEAS holders control:**

**Metavault Allocations**:\
Electing which Pods receive liquidity and defining per-Pod allocation caps to manage systemic risk.

**Treasury Management**:\
Deciding how vlPEAS-controlled capital is allocated—including yield strategies, buybacks, and insurance reserves.

Governance actions are fully executed on-chain and are binding across all protocol modules. However, to preserve protocol safety, Peapods retains a veto right. This veto right may only be instated in instances where the team of Peapods Finance deems a vote outcome to be malicious, reckless, or harmful to protocol integrity. In these edge case scenarios, execution may be delayed or overridden.


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