# Selling Tokens

How to exit your positions and claim your proceeds on Streamlock.

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## Before You Can Sell

To sell tokens, you need:

* [ ] An active stream with tokens
* [ ] Pool must be in the **UNLOCK** phase (after freeze ends)
* [ ] SOL for transaction fees

**Note:** You can only sell tokens during the unlock window. Check the token page for the current phase (GRIND / FREEZE / UNLOCK).

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## Step-by-Step Guide

### 1. Go to My Streams

Navigate to **My Streams** to see all your positions.

Each stream shows:

* Token name and amount
* Current price vs target price
* **Phase status** (GRIND / FREEZE / UNLOCK)
* Withdrawable amount (during unlock window)

### 2. Select a Position

Click on the stream you want to exit.

Check the phase status:

```
Phase: UNLOCK WINDOW
━━━━━━━━━━━━━━━━━░░░░ 25% elapsed

Total Position:    100,000 TOKEN
Current Sell Fee:  ~19% (decaying toward 1%)
Time Remaining:    36h
```

### 3. Choose Your Action

You have two options:

#### Option A: Withdraw Tokens

* Tokens transferred to your wallet
* You can sell elsewhere or hold
* Settlement fee still applies (1%)

#### Option B: Close Position (Sell for SOL)

* Tokens sold via the AMM
* SOL sent to your wallet
* Sell fees apply (see below)

### 4. Execute the Sale

If closing position:

1. Click **Close Position** or **Sell**
2. Enter amount (up to unlocked amount)
3. Review the quote:

   ```
   Selling:     75,000 TOKEN
   SOL Out:     ~0.75 SOL
   Sell Fee:    ~0.15 SOL (20%)
   You Receive: ~0.60 SOL
   ```
4. Click **Confirm**
5. Approve in wallet
6. Wait for confirmation

***

## Understanding Sell Fees

Sell fees are **time-based**: they start at \~25% when the unlock window opens and decay to \~1% by the end of the unlock window (48h for milestone 1, longer for later milestones).

* **Sell at start of window** → higher fee (\~25%)
* **Sell near end of window** → lower fee (\~1%)

Patience is rewarded: selling later in the unlock window reduces your fee.

***

## Multi-Holder Streams (Gaming)

If you've participated in games, your stream may have **multiple entitlement holders**:

**Example:**

* You started with 100% (10,000 bps)
* Lost 30% in a poker game to Bob
* Now: You 70%, Bob 30%

**When you close the position:**

* Stream sells all tokens for SOL
* SOL distributed by entitlement:
  * You receive 70%
  * Bob receives 30%

You don't need to coordinate - each holder claims separately.

***

## Partial vs Full Exit

### Partial Exit

* Sell some unlocked tokens, keep the rest
* Remaining tokens stay in stream

### Full Exit

* Sell all unlocked tokens
* Stream closed (or holding only locked portion)

**Strategy:** Fee depends on when in the unlock window you sell, not how much you sell. If you miss the unlock window, your tokens stay locked until the next milestone cycle — but each subsequent unlock window is longer.

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## Claiming Proceeds

If you have entitlement rights in **someone else's** stream:

1. Wait for that stream to be settled (owner or anyone can trigger)
2. Go to **My Claims** or the stream page
3. Click **Claim Proceeds**
4. Receive your SOL share

You can only claim what you're entitled to based on your BPS (basis points).

***

## Tips for Better Exits

### Wait for Fee Decay

* Sell fees decay over the unlock window
* Selling later in the window means a lower fee
* Consider waiting if you can

### Check Entitlements First

* If you've played games, check your current entitlement
* You may own less than you think
* Or more, if you've won!

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## Troubleshooting

### "No Unlocked Tokens"

* Pool may not be in the UNLOCK phase yet
* Check the current phase on the token page
* Selling is only available during the unlock window (after FREEZE ends)

### "Insufficient for Fees"

* Need SOL for network fees
* Get more SOL before selling

### "Settlement Failed"

* Stream may already be settled
* Check if it's a claim situation instead
* Refresh and retry

### "Already Claimed"

* Each holder can only claim once per stream
* Check transaction history

***

## Related Guides

* [Buying Tokens](https://streamlock.gitbook.io/streamlock-docs/guides/buying-tokens) - How to enter positions
* [Fee Structure](https://streamlock.gitbook.io/streamlock-docs/fees-and-economics/fee-structure) - Complete fee breakdown
* [Streaming Proceeds](https://streamlock.gitbook.io/streamlock-docs/core-concepts/streaming-proceeds) - How entitlements work