The threshold requirement programmatically checks that more than 50% of tokens that participated in the vote, after exclusion of abstain votes, voted in favor of the proposal. The no veto requirement confirms that less than 33.4% of bonded tokens that participated in the vote, after exclusion of abstain votes, vetoed the proposal. Finally, the code the proposal wishes to modify is altered by developers of the network and implemented during the next hard fork of the network – the updated version of the protocol then gets pushed to all nodes supporting the network.
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