Graduation

Token Graduation is the transition from the Bonding phase to the Bonded phase. Each Popdex market has a USDC Graduation target. Popdex sets this target when it creates the market, and the target does not change.

During the Bonding phase, users buy and sell the token through a bonding curve. A successful trade causes Graduation when the net USDC balance in the pool meets or exceeds the target. The market page can show Graduation Progress before the market reaches its USDC target.

Graduation occurs automatically in the same blockchain transaction that meets the conditions. The trade that causes Graduation still uses the Bonding phase rules. Bonded trading rules start with the next swap.

At Graduation, Popdex sets Buzz to 100. The protocol keeps all net token and USDC reserves in the market. These reserves provide the initial liquidity for the Bonded phase. The market cannot return to the Bonding phase after Graduation.

Graduation only describes a change in the market lifecycle. It does not mean that Popdex approves, audits, or recommends the token. It does not guarantee safety, liquidity, price, profit, or successful trades. Users must review the market, token address, available liquidity, and transaction details before they take action.