Graduation
What happens when a curve fills. Two pools, burned LP, and the MOTO buy in the middle of it.
When 80% of a coin's supply has been bought, the curve stops and the coin graduates into real Motoswap pools. It is one transaction, sent by a keeper or anyone else. The creator does not have to do anything.
| Trigger | 200,000,000 of the 1,000,000,000 supply left on the curve |
| Roughly | 4 ETH of net buying in the curve, about 20 ETH market cap |
| Who graduates it | Anyone. A keeper does it within about a minute |
| Reward for graduating | A bounty out of the curve's ETH |
| Pools created | TOKEN/WETH and TOKEN/MOTO |
| Pool price | The final curve price, both pools |
| LP tokens | Burned. Not locked, not held, not vested |
| Leftover coins | Burned |
The sequence
The buy that crosses the line fills only up to the line and refunds the rest. The coin freezes: buying and selling both stop, and the page shows that the curve is complete.
Graduation is then open to anyone. In practice a keeper picks it up within about a minute, and the button on the page is there in case it does not. If you press it and the keeper lands first, your transaction reverts and the coin is graduated either way. That revert is not a problem to report.
Inside the graduation transaction, in order:
- A bounty comes out of the curve's ETH for whoever sent the transaction.
- What is left splits in half.
- One half market-buys MOTO through Motoswap.
- The coin's transfer restrictions lift.
- Part of the coins left on the curve pair with the WETH half to open a TOKEN/WETH pool. The LP is burned.
- The MOTO just bought pairs with coins into a TOKEN/MOTO pool, priced to match the pool opened one step earlier. The LP is burned.
- Anything left over on the coin side is burned.
Either both pools open or the transaction reverts and the keeper tries again in a later block. There is no state where a coin graduates with only one pool.
Why the MOTO leg exists
Every coin that graduates gets a MOTO pool, and the ETH that buys the MOTO for it is a real MOTO buy at every graduation. Half of every graduated curve's raise goes through that buy.
The buy is checked against a short recent average of MOTO's price before it goes through. If MOTO's price on the pool has been pushed away from that average, the graduation reverts and retries rather than filling at a manipulated rate. This can add a few blocks to a graduation and costs nothing but time.
After graduation
The coin is an ordinary ERC-20 in ordinary Motoswap pools. Its supply is fixed, it has no owner and no tax, and the liquidity behind it cannot be pulled because the LP that owns it was burned.
The curve keeps no ETH and no coins. Trading moves to the pools, the fee becomes the normal Motoswap 1% plus the coin's 0.3% creator fee, and any PvE escrow that built up on the curve credits to Motocat stakers in the same transaction. If that credit fails, the coin still graduates and a keeper retries the credit.
Coins that never graduate
Nothing forces a coin to graduate and nothing expires. A coin that stops trading at 10% sold stays on its curve, tradeable in both directions, indefinitely. Its PvE escrow, if any, stays escrowed until it graduates.