Bonding curve and graduation
How the price moves, what bonding progress means and what happens at graduation.
A bonding curve is a price formula instead of an order book. The pool holds the whole supply of 1,000,000,000 tokens at launch and sells them along the curve: every buy adds SOL to the pool and moves the price up, every sell takes SOL out and moves it down. Early buyers pay less, and everyone pays the same price at the same point on the curve. The tokens the curve has not sold go to the Meteora pool at graduation.
BrickPad Standard in numbers
- Market cap at launch
- 30 SOL
- Price of the first token
- 0.0₇3 SOL
- Market cap at graduation
- 420 SOL
- Graduates when
- 88.58 SOL has been raised
Bonding progress
Progress is the share of the graduation target raised so far. Cards and blueprints show it as a build of ten bricks, one per tenth, with the next brick hovering until the GRAD flag lights up. From 80% a token shows up under About to graduate on the board, and once it is more than an hour old it wears the Hot badge. Sells can move progress back down.
Graduation
When the target is reached, the pool graduates by itself. No one has to press a button, and no one can stop it:
- Trading on the curve ends.
- The SOL raised and the remaining tokens move into a new Meteora DAMM v2 pool, with a 1% pool fee.
- The pool's LP is locked forever, 50% for the creator and 50% for the platform. Nobody can pull the liquidity out.
- The token's badge turns Graduated and its card shows a Meteora button that opens the new pool.
Other configs
Custom configs set their own launch and graduation market caps, so their targets differ. A token page always shows the progress of that token's own pool. See Launch configs.