It will be followed by another motion to fast-track Runtime Upgrade 8 so it will be enacted shortly after the referendum vote ends.
Once the motion to fast-track Runtime Upgrade 8 has passed, the proposal will become a referendum, that all token holders can vote on, using their AIR tokens. The referendum will be open for people to vote on for ~2880 blocks (~1 day with an average block time of 30 sec).
Remember, that you donβt lose your AIR by voting on referenda - they are just locked for the duration of the vote. After that, they will be available for transfer again. You can make your vote count for more by voting with conviction which means that you can vote with up to 6X the amount of tokens you have, by locking them for a longer period of time.
If you want to know how voting with conviction works, you can check this manual .