> ## Documentation Index
> Fetch the complete documentation index at: https://mintlify.com/p2pdotme/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Delegation and Revenue Sharing

> Token delegation and revenue distribution mechanics

Token holders stake $P2P on Circles to attest to merchant trustworthiness and earn a share of the Circle's transaction revenue. Revenue is split based on working capital ratio with a merchant premium. Only delegation to $P2P-denominated Circles grants governance voting rights.

## How It Works

<CardGroup cols={2}>
  <Card title="Stake to attest" icon="hand-holding-dollar">
    Token holders stake \$P2P on Circles to signal merchant trustworthiness
  </Card>

  <Card title="Earn revenue share" icon="chart-pie">
    Delegators earn a share of the Circle's transaction revenue
  </Card>

  <Card title="Working capital ratio" icon="calculator">
    Revenue split based on working capital ratio with merchant premium
  </Card>

  <Card title="Governance rights" icon="vote-yea">
    Only \$P2P-denominated Circle delegation grants governance voting rights
  </Card>
</CardGroup>

<Note>
  The full delegation UI and Circle-level reward routing mechanics are planned for a future release.
</Note>