Graduation to Uniswap (the liquidity migration)
Once enough ETH has been bought into the bonding curve (~4 ETH), the coin 'graduates': the curve closes, and the accumulated ETH plus a reserved slice of supply move into a Uniswap V2 pool on Base whose LP tokens are burnt, so no one can pull the liquidity.
What 'graduation' means
Graduation is the moment a bonding-curve coin becomes a normal DEX-traded token. It happens in two moves. (1) Automatically: the trade that pushes the ETH raised past the threshold closes the curve - buy and sell on the curve stop. (2) By anyone, one click: 'Move liquidity to Uniswap' on the coin's page calls migrate(), which takes the ETH the curve accumulated and the pre-reserved 200M coins that were never sold on the curve, seeds a Uniswap V2 pool with both, and burns the LP tokens. From then on the coin trades like any other ERC-20 on a DEX.
Why graduate at all
Bonding curves are great for bootstrapping but bad for big trades - the price moves sharply because the reserves are small. A real Uniswap pool with deep liquidity smooths trades and integrates with the broader DeFi stack (aggregators, wallets, lending). Graduation gets you the bootstrap-with-no-money benefits early, and the deep-liquidity benefits once there's real demand.
Anti-rug by design
On most launchpads, the team controls the LP after migration and could pull liquidity (rug pull). The artsunami launcher burns the LP token to 0xdEaD immediately on migration. No one - not the creator, not the protocol - can withdraw it again. The liquidity is locked forever, the same as any community-owned pool.
What happens after graduation
Trading shifts to the Uniswap pool. The token still appears on /token/[chainId]/[address] but the trade route is now the DEX. Holders can list-sell, set limit orders via 1inch / CoW, route through aggregators - everything any ERC-20 supports. The bonding curve contract becomes inert; its buy/sell functions revert.
How it works on artsunami
Defaults: 1 billion coins - 800M sold via the curve, 200M reserved for the Uniswap pool - a virtual ETH reserve of 1.5 ETH, and graduation at ~4 ETH raised. The coin page shows the progress bar and how much ETH is left to graduate. Parameters are immutable per coin. Migration uses Uniswap V2 on Base mainnet; on the Base Sepolia test network no router is configured, so a test coin can graduate but not migrate.
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