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Strategy Vaults include a governance system that lets managers propose changes and LP holders vote (optional) on them. Policy changes on a live vault (AUM > 0) must go through this proposal flow using PolicyAction — direct wrapper policy calls are restricted to vaults with zero AUM.

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Proposal Lifecycle

Manager proposes → Voting period → Finalize → Timelock → Execute
  1. Propose — manager creates a proposal with a ProposalAction (settings change or position update)
  2. Vote — LP holders stake LP tokens to vote Reject or OptOut during the voting period
  3. Finalize — after the voting period ends, anyone can finalize to determine pass/reject
  4. Timelock — if approved, the proposal enters a timelock period before execution
  5. Execute — after the timelock passes, anyone can execute the approved proposal
Managers can cancel a proposal at any time before execution. For details on the voting model and proposal account structure, see ActionProposal.
Sentinel operations (emergency pause/freeze) are currently managed by Exponent.

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Instructions

Propose Action

Create a governance proposal for settings or position changes.

Voting

Stake LP tokens to vote on proposals. Unstake after voting ends.

Execute Proposal

Finalize and execute approved proposals.