How does equity work in a new company?

[APXG]

i'm not sure if this is commonly done, but i would issue warrant-style shares to the resource partners that would only vest at strike prices above an equity threshold, and also introduce a time component. for example:
contributions:
rp1 = $50
rp2= $50
mp= $100

shares:
rp1 = 80 --> 20 fully vested at time 0, 10 at time 1, 15 at time 2, 20 at time 3, etc. of the 10 at time 1, 2 would vest at strike / equity = $2.5 per share, 2 at $3 per share, etc.
rp2 = 80 --> same as rp1
mp = 40 --> all fully vested

you can obviously change all the numbers to drive how much the mp wants to pay the rp's for their work outside of equity creation, hence vesting 2 shares at $2.5 despite that being breakeven equity. if you want to pay them extra despite equity destruction, make some of the shares vest at $1.5 or $2 and scale this in for as time gets longer.

perhaps some of this is wrong / doesn't make sense, but i think its a start in the right direction in terms of framework.