Graduation

A token graduates when its curve has raised 8 ETH, which happens exactly when all 800,000,000 curve tokens have been sold. There is no vote and no manual step: the buy that completes the curve also opens the pool.

What happens, in one transaction

1. The curve closes. Buying and selling on the curve stop for good. From here on, the token trades in its pool.
2. The pool opens. A Uniswap v4 pool for the token and ETH is opened on Robinhood Chain at 0.00000004 ETH per token.
3. The liquidity goes in. All 8 ETH and the 200,000,000 reserved tokens are added across the full price range.
4. The position is locked. It belongs to the locker, which can only collect its fees.

Because it all happens in the same transaction, there is no moment between the curve closing and the pool opening when someone else can step in.

Venue

Uniswap v4 on Robinhood Chain

Pair

ETH / token

Liquidity added

8 ETH + 200,000,000 tokens

Price range

Full range

Opening price

0.00000004 ETH

Last curve price

≈ 0.0000000393 ETH

Pool fee

1% per swap, fixed

Who can open the pool

Only the Lancio locker (enforced by a hook)

The handover price

The curve's last price is about 0.0000000393 ETH per token. The pool opens at 0.00000004 ETH, about 1.8% higher, within the 2% the rules promise. So nobody gets a free jump at the handover: after the 1% fee on the curve and the 1% fee in the pool, buying the last curve tokens and selling them straight into the pool does not pay.

Oversized buys

If the graduating buy sends more ETH than the curve needs, it is filled partially. You receive every token left on the curve, pay only the ETH needed plus the 1% fee on that part, and the rest of your ETH is refunded in the same transaction.

After graduation

Your tokens don't change. It is the same token at the same address; only the place it trades moves from the curve to the pool. The pool's trading fees are split between the creator and Lancio, see Fees.