the free encyclopedia of Robinhood Chain
For the venues where this event occurs, see The Launchpads.
Graduation is the state change a bonding-curve token undergoes when its curve fills: the primary sale closes, a liquidity pool is seeded from the accumulated reserve, and the token's trading venue moves from the launchpad's internal curve to that pool. The event is mechanical, not promotional — the venue does not change underneath anyone, it changes for everyone at once.
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Before graduation, every buy and sell routes through the launchpad's own curve contract, and price is a deterministic function of cumulative supply sold. After graduation, that contract stops accepting trades; a liquidity pool funded from the curve's accumulated reserve becomes the venue of record, and price is set by the pool like any other liquidity-pool market.
The transition is atomic from the perspective of any single holder — there is no window in which the token trades nowhere, and no discretionary decision about timing beyond the curve's own published target being reached.
Graduation is treated as a first-class event in Hoodpedia's Events category because it is the single most consequential, objectively-dated milestone in a token's early life: it marks the transition from launchpad-controlled pricing to open-market pricing, and it is the point at which most published claims about a token's trajectory can first be checked against continuous market data rather than curve mechanics alone.