Graduation is a one-way event. The token moves from its bonding curve into a Raydium CPMM pool. From that point it trades like any other Solana token. Jupiter routes it. Every explorer charts it. Any AMM can swap it.
Trigger
A token graduates when net SOL inflow into the curve reaches 85 SOL. LaunchLab enforces this on-chain. No human approval step. No manual migration.
The migration transaction
The on-chain flow does three things:
- Closes the bonding curve so no more curve trades can happen.
- Creates a CPMM pool seeded with the token and SOL held by the curve.
- Emits events for indexers and the Liport backend.
The frontend flips the token’s status from “On curve” to “Graduated” once the event confirms. Discover has a migratedOnly filter that shows only graduated tokens.
What changes for traders
| Before graduation | After graduation |
|---|---|
| Trades priced by curve formula | Trades priced by CPMM pool |
| 1.00% curve fee (0.25% Raydium + 0.55% Liport + 0.20% creator) | 0.35% CPMM fee (0.30% base + 0.05% creator) |
| Max depth = curve reserves | Depth = full CPMM pool |
| Only tradable through Liport | Tradable through Jupiter, Raydium and any aggregator |
What changes for creators
Creators keep earning. See Creator Economy. The Creator Rewards section of your profile shows both pre- and post-graduation earnings and lets you claim them from the same place.
What changes for holders
Nothing. The SPL mint is the same before and after. Your balance, metadata and price history are continuous. No wrap, no claim, no re-approval.
Things to know
- Partial fills do not trigger graduation. Only the 85 SOL threshold counts.
- The curve does not reopen after graduation. Buys after the event run through the CPMM pool.
- If migration fails (congestion, a config mismatch), the backend retries. Trading on that token can pause for a moment until the migration lands.
Watching it live
Every token page has a graduation progress bar while the token is on its curve. On the coins list, the migratedOnly toggle filters to graduated tokens.