Graduation and the locked reserve
When a curve reaches its threshold, the launch graduates into a Meteora DAMM v2 pool against its house token, with its liquidity permanently locked.
4.1The threshold
A curve graduates when its reserve reaches about 85 SOL of house token, the raise at which pump.fun's curve graduates. The curve closes, and the launch migrates into a Meteora DAMM v2 pool against the house token, with the curve's reserve as its liquidity. Supply left unsold on the curve is burned.
Graduation charges no migration fee and no pool-creation fee. A curve that finishes above its threshold leaves a surplus; 80% of it goes to the house vault and the creator, and harvest claims the vault's part.
4.2Locked liquidity
The pool's liquidity is split into two positions: 50% to the house vault and 50% to the creator. Both are locked permanently, and the fees of both stay claimable.
- House vault position
- 50%of liquidity
- Creator position
- 50%of liquidity
- Pool fee
- 1%per trade
- Collected in
- house token
The pool charges 1% per trade and collects it in the house token. The house vault's position earns its part of every pool trade, and tribute burns it like the curve fees.
4.3Migration
Migration is permissionless. Meteora's own keeper migrates curves on the quotes it lists, and Tribute's keeper calls the migration for every curve Meteora's keeper does not take. Every launch in every house graduates when it reaches its threshold.
4.4The reserve
A house's reserve is the house token locked in its graduated pools. Each graduation adds the launch's raise to it, and the house room's reserve counter rises with each one.
A graduated launch keeps trading in its launch room through its pool, paid with SOL, USDC or the house token through Jupiter's routes.