Tightening Pin Joints - Where Does the Polish Go?

There's a million threads about tightening all kinds of joints, but there's one thing I can never find a clear answer on for when it comes to tightening pin joints using polish.
Where does the polish go?
Do you put it on the end of the pin and have it sink through the pin... hole. (marked with the red arrow):
And does it matter which side you use? Are using both suggested?
Or do you put it where the actual joint is and have it create a thicker layer between two parts, and less of the pin (marked with green arrow, both sides for style):
So, pin or joint? Red arrow, green arrow? Both, maybe?
Where does the polish go?
Do you put it on the end of the pin and have it sink through the pin... hole. (marked with the red arrow):
And does it matter which side you use? Are using both suggested?
Or do you put it where the actual joint is and have it create a thicker layer between two parts, and less of the pin (marked with green arrow, both sides for style):
So, pin or joint? Red arrow, green arrow? Both, maybe?