Skip to main content

​
What graduation does

When a token’s bonding curve completes:
  1. A pool opens on the exchange — a constant-product pool on the native exchange, seeded with the curve’s liquidity
  2. The liquidity position goes into a locker — a dedicated contract holds the position
  3. The transfer gate lifts — the token becomes freely transferable and trades like any other asset
Graduation is permissionless and incentivized: once the curve is complete, anyone can call it, and the caller earns a graduation reward set for the deployment. No one — not the creator, not the platform — decides whether a completed launch graduates; the reward makes sure someone actually pulls the trigger. The pool itself cannot be front-run: CP pool creation is restricted to the launchpad’s role, so nobody can open a launch’s pool ahead of graduation and set its terms.

​
What “locked” means

Most launchpads promise locked liquidity. Here the locker has no function that could unlock it — withdrawing the position is not a permission that could be granted or a timelock that could expire; the capability does not exist in the contract. What the locker does allow:
  • Fee collection — the locked position keeps earning trading fees, and only the designated fee recipients may collect them
  • Creator revenue for life — the creator’s share of those fees keeps paying for as long as the pool trades
This turns launch incentives around: the creator’s upside is the long-term trading of their token, not an exit.