Graduation

A token graduates when its curve has collected $12,000 of backing, or when the curve sells out. Graduation happens inside the transaction that crosses the threshold and cannot be reversed.

A threshold in dollars, on a leveraged reserve

The threshold is measured in dollars at the current LT price, so it moves with the market. If the underlying rises, the backing already in the curve is worth more and the token can become graduatable without a single new buy — anyone can then call triggerGraduation. If it falls, the curve needs more buys to reach the threshold and may sell out first: a sold-out curve graduates too. The gauge shows whichever of the two is closer, and the token page details both.

What happens

1. Unsold curve supply, if any, is burned.
2. All the LT raised by the curve, together with the matching share of the 25% reserved at launch, seed a PancakeSwap V2 pool, token / LT, at the curve's closing price. Closing exactly at the threshold, that share is 18.75% of supply; the remaining 6.25% is burned. (A curve that sells out or graduates on appreciation closes at a different price, so the split moves accordingly.)
3. The LP tokens are sent to the LPLock contract, which has no withdrawal function. The liquidity is locked forever.
4. The transfer guard that prevented trading on the pool address before graduation is lifted.

After graduation

The token trades like any PancakeSwap pair. The site keeps routing buys and sells through the Zap: it still lets you pay in USDT or BNB, mints or redeems the LT for you, and swaps on the pool. Because the pair is quoted in LT, the token keeps its leveraged backing after graduation: the pool's value tracks the market just like the curve did.

Fees after graduation

Curve fees stop; PancakeSwap's 0.25% pool fee applies instead, accruing to the locked LP position. Creator fees earned before graduation remain claimable.