It is well established that Ca 2؉ plays a key role in promoting the physiological depolarization-induced release (DIR) of neurotransmitters from nerve terminals (Ca 2؉ hypothesis). Yet, evidence has accumulated for the Ca 2؉ -voltage hypothesis, which states that not only is Ca 2؉ required, but membrane potential as such also plays a pivotal role in promoting DIR. An essential aspect of the Ca 2؉ -voltage hypothesis is that it is depolarization that is responsible for the initiation of release. in promoting physiological depolarization-induced release (DIR) of neurotransmitters from nerve terminals is well established and needs no further confirmation. Indeed, the calcium hypothesis holds that intracellular elevation of Ca 2ϩ is both necessary and sufficient to induce release. Yet, there is considerable evidence for the role of depolarization per se in promoting release (1-4), based on which the calcium-voltage hypothesis was suggested. Accordingly, under physiological conditions of DIR, Ca 2ϩ is indeed necessary but membrane potential plays the pivotal role in release (5). In particular, we proposed that presynaptic inhibitory autoreceptors, in addition to their known role in feedback inhibition (6), are also the vehicle by which membrane potential controls initiation and termination of release. As a molecular mechanism for the calcium-voltage hypothesis we suggested that under rest conditions the release machinery is subject to a tonic block, which is attained by the association of the ligand-occupied inhibitory autoreceptor (which mediates feedback inhibition of transmitter release) with proteins of the exocytotic machinery. Initiation of release is achieved upon depolarization by relief from the tonic block; when this block is reinstated upon membrane repolarization, termination of release occurs (5).The hypothesized molecular mechanism for release control was tested for one major neurotransmitter, acetylcholine (ACh), for which the relevant inhibitory autoreceptor is the M 2 muscarinic ACh receptor (M 2 R). In particular, the idea that, at rest, the release machinery is tonically blocked is supported by the finding that release of ACh was enhanced by antagonists of M 2 R (7-9). The hypothesis that this block is achieved by the association of M 2 R with proteins of the exocytotic machinery is supported by findings in rat brain synaptosomes that M 2 R coprecipitates with synaptotagmin and with SNARE proteins [syntaxin, 25-kDa synaptosomal-associated protein (SNAP25), and a vesicleassociated membrane protein (VAMP͞synaptobrevin)]. Moreover, it was found that this association takes place only if M 2 R is bound to ACh or a muscarinic receptor agonist, and that this association is strong at resting potential, but it becomes weaker under depolarization. It was further shown that M 2 R has two states, of high and low affinity, and membrane protential controls the distribution between the two states (10, 11). Based on the above experiments, a molecular scheme and corresponding mathematical model for DIR were develop...