Graduation
When a curve graduates
A curve graduates when its sellable allocation of 750,000,000 tokens is gone. That happens once 0.09 HYPE of real buys has accumulated.
An oversized final buy is filled up to the remaining allocation, and the unused HYPE is refunded in the same transaction.
What happens at graduation
- The curve closes for trading.
- The raised HYPE and the 250,000,000 reserved tokens are sent to the Kiln locker.
- The locker has no withdraw function, so those reserves stay there permanently.
The token page marks a graduated launch as Fired.
Trading after graduation
In the current version, the locker holds graduated reserves in place of a pool position, so a graduated token has no Kiln trading venue. Kiln v2 graduates tokens into a liquidity pool with a permanent lock. See Upcoming: Kiln v2.