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Graduation

At a $40K market cap the token moves to a Meteora DAMM v2 pool and trades freely.

Graduation is the moment a token leaves its bonding curve for an open Meteora DAMM v2 pool. It happens automatically when the token reaches a $40K market cap, and it can't be delayed or brought forward by anyone.

When a token graduates

The curve completes when it has raised its graduation amount of the pair asset: about $9.6K at the pair's price when the token launched. At that point about 76% of the supply has been bought from the curve and the market cap is $40K. The progress bar on every token page shows how close it is.

Note

The target is fixed in the pair asset. For a SOL pair, a token graduates at the same amount of SOL whatever SOL does in the meantime, so its dollar market cap at graduation can be above or below $40K. See Pair assets.

What happens

  1. The last buy completes the curve

    The buy that fills the curve is still a pre-bond buy, so it must come from fomo or from an X-verified FOMOPRIME account like every other.

  2. The gate is removed

    At the end of that same swap, Meteora removes the transfer hook from the token. From this instruction on, social_gate is never called for this token again.

  3. Liquidity moves to DAMM v2

    The pair asset the curve raised and the tokens it didn't sell move into a new Meteora DAMM v2 pool at the graduation price. Anyone can trigger this migration; it doesn't depend on FOMOPRIME.

  4. Open trading

    The token is now an ordinary Token-2022 token in a public pool. It shows Graduated · open and moves to the Migrated column on Discover.

Before and after

On the curveAfter graduation
Who can buyfomo app, X-verified accounts on FOMOPRIMEAnyone
Who can sellAnyoneAnyone
Where it tradesMeteora Dynamic Bonding CurveMeteora DAMM v2, and every app that routes it
Transfer hooksocial_gate checks buys from the curveRemoved
Trading feeThe creator fee (1–3%), split 60 / 20 / 20The DAMM v2 pool fee