> For the complete documentation index, see [llms.txt](https://docs.liquidroyalty.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.liquidroyalty.com/token/token-vesting.md). # Token Vesting > **Illustration only:** Percentages and the optional **pre-sale** described here are examples of how a listing *could* be structured. They are **not** a fixed launch framework. A pre-sale is **optional** and may be omitted, resized, or given a different vesting schedule per RTGE. In one illustrative setup, 10% of the Royalty Token supply is sold in an optional pre-sale and 10% is locked in the liquidity pool. The diagram below shows how remaining tokens might unlock over time.
For merchants, unlocking their tokens is tied directly to business performance. This vesting mechanism ensures that the merchants' interests align with Royalty Token holders: **Growth-Based Unlocking** Revenue growth target * Annual performance reviews using platform data oracle, measured at each anniversary of initial offering * Each review can trigger token transitions from locked to LP staked status **Unlocking Process** 1. (Stage One) Locked → LP Staked * When growth targets are met, tokens move to LP staking * Royalty Token are automatically sold to create matching LP pair * Merchants are not able to redeem LP until Stage Two is reached 2. (Stage Two) LP Staked → Liquid * Only occurs when LP size exceeds 30% of circulating Royalty Token supply * Excess LP tokens unlock every 3 months This mechanism ensures: * Merchants stay committed to growth * Market stability through adequate liquidity to protect against selling pressure * Gradual token distribution based on performance Asset originator is also subject to the same vesting requirements.