> For the complete documentation index, see [llms.txt](https://element-2.gitbook.io/element-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://element-2.gitbook.io/element-docs/governance-protocol/elementdao.md).

# ElementDAO

ElementDAO was created with the purpose of democratizing access to fixed-rate markets. It's committed to playing a significant role in the future financial system and aims to globalize access to decentralized finance fixed-rate markets. It is governed by ELFI holders and delegates.

**The DAO's governance process is comprised of the following components:**

* Community Discussion (Discord, Commonwealth Forums)
* Off-chain polling (Snapshot)
* On-chain voting (Council Protocol)
  * Council uses Voting Vaults to distribute governance power to ELFI holders and delegates. More criteria can be added for distributing votes.
  * The system features a Governance Steering Council (GSC) with added functions within ElementDAO's governance framework.