What Happens When a Token Graduates

The Graduation Event

Graduation is when a token moves from Spawned's bonding curve to Raydium, a decentralized exchange. It's a milestone that shows the project has reached meaningful adoption.

Why It Matters

Before graduation:

• Trading only on bonding curve
• Liquidity limited to curve reserves
• Not visible on major Solana tools

After graduation:

• Trading on Raydium DEX
• Deeper liquidity pools
• Visible on DEX aggregators
• More traders can participate

When It Happens

Graduation triggers automatically when the bonding curve reaches $69K market cap. This takes:

• Strong community interest
• Sustained buying
• Momentum

No manual action needed from creator or holders.

What Changes

For traders:

• Raydium trading interface
• Can use any Solana DEX aggregator
• Different price dynamics (order book vs curve)

For holders:

• Tokens stay in your wallet
• Holder rewards continue
• Nothing you need to do

For creators:

• Token has "graduated" status
• Creator fees continue from Raydium trades
• Project has social proof of reaching milestone

The Mechanics

When graduation triggers:

1. Remaining bonding curve liquidity is used to create a Raydium CLMM pool
2. Token and SOL are added as liquidity
3. Trading continues seamlessly on Raydium
4. Bonding curve deactivates

After Graduation

Trading behavior changes:

• Price can move independently of bonding curve math
• Large buyers don't necessarily push price up linearly
• Market makers and arbitrage bots participate
• More sophisticated trading patterns emerge

The token is now in the broader Solana DeFi ecosystem.