Lesson 02 · Unit 7 · Solana
Graduation day
Roughly one launch in a hundred crosses the arch. The arch checks size, not honesty.
When enough buying completes the curve — historically around a $69K market cap on pump.fun — the token graduates: the SOL collected by the curve becomes a real liquidity pool on a DEX, and the LP tokens are burned. From that moment it trades like any other token, order flow and all.
Minute 0
Token minted on the launchpad — costs almost nothing
Curve phase
Buyers push price up the formula; no pool exists yet
≈$69K mcap
Curve completes — graduation triggers
Graduation
Curve SOL becomes a DEX pool; on pump.fun the LP is burned automatically
After
A normal token now — every chapter-5 and chapter-6 check applies
≈1%
of launchpad tokens ever graduate
≈$69K
market cap where the curve historically completes
100%
of the new pool's LP burned at migration — on pump.fun
Graduation is not vetting
Graduation certifies exactly one thing: enough SOL flowed in to complete a curve. The buyers could be a community — or one person with twelve wallets. It is a milestone, not a vetting. Scan it like anything else.
Where this goes next
What happens to the pool at migration is a liquidity question. Who bought before you is a holder question.