What is a bonding curve graduation?
Short answer
Graduation is when a pump.fun coin fills its bonding curve — reaching a set market-cap threshold (historically around $69k) — and the SOL collected on the curve is deposited into a new Raydium pool, where open-market trading begins.
Only a small fraction of launches ever graduate. It is a venue change and a volatility event, not a safety certification — the new pool can be dumped like any other.
Related questions
Does graduation make a coin safe?
No. It just moves trading to a real DEX pool. Re-verify LP status, authorities, and concentration on the new pool before assuming anything.
What happens to pre-graduation buyers?
They now hold positions on the open Raydium pool and can sell into it — which is why a graduation can spark an immediate dump.
Why do so few coins graduate?
Because launching is trivially easy and most coins never attract enough sustained buying to fill the curve.
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Education only — not financial advice. Memecoins are extremely high risk.
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