Graduation
Graduation is the moment a launchpad token outgrows its bonding curve and becomes a regular DEX asset with deep, permanent liquidity. It’s fully automatic and cannot be gamed, delayed, or reversed by anyone — including us.
When does a token graduate?
Section titled “When does a token graduate?”A token graduates when its curve completes — roughly ≈5 ETH raised. The token page shows a live progress bar the whole way there, and the app tells you when a buy is big enough to be the graduating trade.
What happens at graduation
Section titled “What happens at graduation”- Curve trading ends for that token, permanently.
- A Thor DEX pool is created for the token against ETH, and the raised ETH plus the token supply reserved by the protocol are deposited as its opening liquidity — at the price the curve ended at, so there’s no gap between curve and pool.
- The resulting liquidity position is locked in the protocol’s lock vault, forever. It cannot be withdrawn by the creator, by Thor Exchange, or by anyone else.
The whole migration either completes fully or doesn’t happen at all — the protocol never ends up in a half-migrated state.
What it means for holders
Section titled “What it means for holders”- You don’t need to do anything. Your tokens are the same ERC-20 before and after; no swap, no claim, no new address.
- Trading continues seamlessly on the swap page, now against real concentrated liquidity.
- The liquidity floor is permanent. Locked liquidity can never be pulled — the classic “liquidity rug” is structurally impossible.
What it means for creators
Section titled “What it means for creators”Graduation is when creator economics switch on: the locked pool’s trading fees start accruing, and 70% of them belong to the creator — see Creator Fee Rights.