# Graduation

Graduation is when a coin finishes its bonding curve and its liquidity moves to a regular DEX pool, where trading continues.

Source: https://unisongo.com/learn/graduation · Updated 12 Nov 2026 · Unison (unisongo.com)

## How it works

The curve has a set amount of coins for sale or a set amount to raise. When it is reached, the launchpad stops curve trading and moves the coins and the raised quote into a pool. Most launchpads lock or burn that liquidity.

| Launchpad | Graduates at | Moves to |
| --- | --- | --- |
| [pump.fun](https://unisongo.com/atlas/pump-fun) | All 793.1M curve coins sold, about 85 SOL | PumpSwap, liquidity burned |
| [Pons](https://unisongo.com/atlas/pons) | 4.2 ETH raised | Uniswap v4 with the Pons hook, locked |
| [Four.meme](https://unisongo.com/atlas/four-meme) | The whole curve, about $10,000 | PancakeSwap |
| [flap.sh](https://unisongo.com/atlas/flap) | BNB Chain 800M sold; Robinhood Chain 80% sold, about 5 ETH | Uniswap v3 fork or v2; Robinhood Chain v2 |
| [Bags](https://unisongo.com/atlas/bags) | 85 SOL by default | Meteora DAMM v2 |
| [LaunchLab](https://unisongo.com/atlas/launchlab) | 85 SOL, or a custom curve from 24 SOL | Raydium CPMM |

## Worked example

pump fun: selling all 793.1M curve coins leaves 279.9M virtual coins. k ÷ 279,900,000 = 115.005 SOL on the quote side, minus the 30 virtual: 85.005 SOL raised. The market cap at that point is about 411 SOL.

## How often it happens

Of non-team Pons coins launched 14 to 27 October 2026 and 1 to 6 days old when measured, 0.84% had graduated. See the [Launch Desk report](https://unisongo.com/desk/robinhood-chain/2026-10).

## Sources

- The [Launchpad Atlas](https://unisongo.com/atlas), every value with its source.

Also called: bonding, migration.

## Related

- [Bonding curve](https://unisongo.com/learn/bonding-curve): A bonding curve is a launchpad’s built-in market that sets a coin’s price from how much of it has been bought, so the price rises with every buy.
- [Creator fees](https://unisongo.com/learn/creator-fees): Creator fees are the share of a coin’s trading fees that the launchpad pays to the coin’s creator.