Graduation
When the curve sells out, liquidity moves into a Uniswap v4 pool that keeps the same hours and cannot be withdrawn.
Graduation is the moment the bonding curve is finished. It happens inside the transaction of the buy that sells the last token, with no vote and no delay.
What happens, in order
The curve closes
The coin is marked graduated. buy and sell on the curve stop working for it.
The pool is created
The launchpad initializes a Uniswap v4 pool for the coin against its quote asset, at exactly the price the curve ended on, so there is no jump.
Liquidity goes in
The raised ETH (about 4 ETH) and the 200 million reserved tokens are deposited across the full price range. Whatever tokens do not fit the price are burned, not kept.
The position is locked
The position belongs to the launchpad contract, and the launchpad has no function that removes liquidity. There is no owner key that can pull it. It stays there for good.
Same rules after graduation
Every graduated pool has a hook attached. The hook:
- rejects any swap while the coin's exchange is closed,
- takes the 1% fee and the creator tax on the ETH leg of every swap,
- applies the opening tax at every bell,
- and honours tax exemptions only for swaps routed through the launchpad.
Trade through Lunch Break, not a generic router
You can swap a graduated coin through any Uniswap v4 router, and the hours and fees still apply. But only swaps sent through the launchpad's poolBuy and poolSell can be recognized as coming from an exempt wallet. Through a third-party router, everyone pays the opening tax.
What graduation is not
Graduation means the curve sold out. It says nothing about the team, the coin, or where the price goes next. A coin can graduate and go to zero the next session. Treat "graduated" as a state, not a signal.
Fees after graduation
Creator fees keep accruing from every pool swap, exactly as they did on the curve. The creator claims them from the profile page, or, if the coin shares fees with holders, distributes them to every holder with the same button.