pump.fun Graduation: What Happens When a Coin Migrates to PumpSwap

You do not migrate a pump.fun coin's liquidity yourself. According to the pump.fun documentation, once a coin's market cap on the bonding curve reaches the graduation threshold, the curve is closed and the entire liquidity pool is migrated atomically to PumpSwap; graduation is automatic and irreversible, and there is no human step. pump.fun charges 0.015 SOL at graduation.

The migrated SOL and tokens become the coin's canonical PumpSwap pool. pump.fun does not seed or remove that liquidity afterwards, and the pool is owned by the protocol, so the creator neither holds nor can withdraw it. From then on the coin trades on PumpSwap at the fee schedule for canonical pools, between 1.25 percent and 0.30 percent per trade depending on market cap, and the creator keeps earning a creator fee on each trade.

What a creator can still do after graduation: claim creator fees, add more liquidity to the canonical pool through PumpSwap's deposit instruction, watch the coin in DexLab Token Hub, and distribute tokens to holders with the Multisender.

What Happens at Graduation, in Order

  1. The coin fills its bonding curve

    Every buy on the curve raises the price and moves the coin toward the graduation threshold pump.fun sets. Trades on the curve pay a total fee of 1.25 percent. The documentation does not publish the threshold as a fixed number, so treat figures quoted elsewhere as estimates.

  2. The curve closes and the liquidity migrates atomically

    At the threshold the bonding curve is closed and its SOL and tokens are moved into PumpSwap in a single atomic migration executed by the pump.fun program. There is no manual migration, no waiting period documented, and no way to reverse it.

  3. pump.fun charges the graduation fee

    The fee documentation lists a single charge at this point: 0.015 SOL when a coin graduates from the pump.fun platform to PumpSwap. Creating the coin itself costs 0 SOL.

  4. A canonical PumpSwap pool is created

    The migration creates the coin's canonical pool, identified on PumpSwap by pool index 0 for that creator, base mint, and quote mint. The migrated liquidity is owned by the protocol: pump.fun states that it neither seeds nor removes it after graduation.

  5. Trading continues on PumpSwap at the canonical fee schedule

    Trades on the canonical pool pay between 1.25 percent and 0.30 percent in total depending on the coin's market cap, split between the creator, the protocol, and liquidity providers. Deposits and withdrawals of liquidity carry no PumpSwap fee.

  6. The creator keeps earning and can add liquidity

    Creator fees continue on the canonical pool and are claimed with the creator wallet. Anyone, including the creator, can add liquidity to the pool with PumpSwap's deposit instruction and receive LP tokens, and withdraw later by burning them.

  7. Follow the coin on DexLab

    Open the coin in DexLab Token Hub by its mint address to watch price, holders, and trades on one page, and use the Multisender when you want to send tokens to a list of holder wallets.

pump.fun graduation FAQ

Do I need to migrate my pump.fun coin's liquidity manually?
No. The pump.fun documentation states that graduation is automatic and irreversible and that there is no human step: when the bonding curve hits the graduation threshold it is closed and the whole liquidity pool is migrated atomically to PumpSwap.
What does graduation cost?
pump.fun lists 0.015 SOL when a coin graduates from the platform to PumpSwap. Creating the coin costs 0 SOL; the platform earns from the trading fees, 1.25 percent per trade on the bonding curve and a market cap based schedule on PumpSwap.
Can I withdraw the liquidity that migrated to PumpSwap?
Not the migrated liquidity. pump.fun states that the migrated SOL and tokens become the canonical pool, that it does not seed or remove that liquidity after graduation, and that the pool is owned by the protocol. Liquidity you add yourself afterwards through the deposit instruction is represented by LP tokens you hold and can withdraw.
What are the trading fees on PumpSwap after graduation?
For a canonical pool, total fees fall from 1.25 percent at a market cap below 420 SOL to 0.30 percent at 98,240 SOL and above, in bands, split between the creator, the protocol, and liquidity providers. A PumpSwap pool that was not created by the migration charges 0.3 percent in total with no creator share.pump.fun creator fees
Can I create a second PumpSwap pool for a graduated coin?
The PumpSwap program allows it: a pool is derived from an index, a creator, a base mint, and a quote mint, and the index lets the same creator open more than one pool for the same pair. A second pool is not canonical, so it charges the flat 0.3 percent and pays no creator fee, and it splits the coin's liquidity between two pools. The public docs do not describe how the PumpSwap app exposes this, so this guide does not walk through it.
My coin migrated to Raydium instead of PumpSwap. Why?
Coins that graduated before PumpSwap existed were migrated to Raydium. The pump.fun public docs note that those coins do not receive creator fees, because the Raydium program is not under pump.fun's control. Newer graduations go to PumpSwap.
Is the graduation threshold a fixed number of SOL?
The pump.fun documentation describes graduation as happening when the market cap on the bonding curve hits the graduation threshold, and does not state the threshold as a number on its docs pages. Figures you see quoted elsewhere are estimates and may be out of date.
How is this different from creating a liquidity pool on DexLab?
On DexLab you create the token and then the pool yourself, choose the fee tier, set the initial price, keep the LP tokens, and can withdraw your liquidity. With pump.fun the pool is created for you at graduation and the migrated liquidity stays with the protocol. Both are legitimate paths; they suit different launches.Create a liquidity pool on DexLab