Graduation
Graduation is the moment a launch stops trading on its curve and becomes a normal Uniswap v4 pool. It happens when the curve has sold everything it was ever going to sell: 80 % of supply.
The pool is fixed in advance
Not all of the supply is for sale on the curve. A fixed 20 % is held back from the start:
| Held back | Share of supply | Where it goes |
|---|---|---|
| Pool liquidity | 16 % | Paired with everything the curve raised, at exactly the curve's final price |
| Locked remainder | 4 % | Locked in the launch locker. It never circulates |
These shares come from the curve's shape (), so they cannot be changed for a launch after it is created. No creator decides how much liquidity to add, and none can add less than promised. Every launch on the same pair asset graduates into a pool of the same size, at the same price, whether the curve sold out in one buy or in thousands.
| ETH pair | USDG pair | Stock pair | |
|---|---|---|---|
| Pair asset in the pool | 5 ETH | 12,500 USDG | ≈ $12,500 of the stock |
| Launch tokens in the pool | 160,000,000 | 160,000,000 | 160,000,000 |
| Pool opening price | 25 × the curve's opening price | same | same |
The LP position is locked forever. Nobody, including Eden, can withdraw it. Its trading fees are not paid to an LP. The pool is fee-free at the Uniswap level, and the trading fee is charged by Eden's hook and routed to the same lanes as on the curve.
It happens inside the last buy
Graduation runs automatically in the same transaction as the buy that sells out the curve. The curve sweeps its reserves, the pool is created and seeded, and the liquidity is locked, all in one block. No block ever shows a launch that has closed its curve but has no pool yet, so there is no gap for a bot to buy into.
The last buy is never rejected
If your buy is larger than what is left on the curve, you are not refused. You buy exactly what remains, you pay only for what you received, and the rest is refunded in the same transaction. The fill lands the curve on its graduation threshold exactly, so the pool is seeded with the same amount every time.
Your slippage protection still holds: you may receive fewer tokens than you asked for, but never at a worse price per token than you signed for.
If the automatic step fails
If the pool cannot be created inside that buy (for example a temporary error in the pool manager), the buy still succeeds and the launch waits in a "swept" state. Anyone can then finish graduation with a single permissionless call. It does not need the creator and it does not need Eden, so a launch cannot be left stranded.
Protection in the first blocks
A freshly seeded pool is as attractive to bots as a fresh curve. For the first block after graduation (one Ethereum block, about 12 seconds on Robinhood Chain), no single address can take more than 1 % of the tokens the pool was seeded with. After that, trading is unrestricted.
Recovery (rare)
If a pair asset itself stops working (for example its issuer pauses transfers), the pool cannot be seeded. In that case:
- The Eden Safe can move the curve's reserves into the factory, but only for a launch the on-chain preflight confirms cannot be seeded.
- A 7-day wait starts. During it, anyone can still seed the pool the moment the asset works again, which ends the recovery permanently.
- Only if nobody could seed it in 7 days can the Safe return the reserves for off-chain distribution to holders.
The Safe can never use this path on a launch that can still graduate.
After graduation
- Trading continues in the pool, through any Uniswap v4 router or Eden's app.
- The same trading fee applies, and the same holders, scorers, buyback and creator lanes are paid.
- Liquidity growth: a slice of every creator payout buys the token in its own pool and adds both sides as new locked liquidity, so the pool deepens over time. If a launch has not graduated 180 days after launch, its held slice is released to the creator instead.