Graduation

In pump-style launchpads, “graduation” means a bonding curve fills up and liquidity migrates to a DEX. Merry Men has no bonding curve and no migration, so graduation here means something different and much smaller.

Graduation is not a migration

Graduation is an off-chain milestone badge computed by the indexer. It moves no funds, changes no liquidity, and has no on-chain contract or state. Do not treat a graduated token as one that has “migrated”. Nothing migrates, ever.

What graduation is

A token’s liquidity is already a real, locked Uniswap V3 pool from block one. Graduation is simply a progress milestone, a badge that marks a launch as having reached a traction threshold, derived from signals like net buys and pool liquidity over time.

It exists to give the UI and third parties a familiar “this one is heating up / has made it” signal, not to gate any capability. A token can be traded exactly the same before and after graduation.

How progress is computed

The indexer computes a graduation object per token from on-chain activity:

"graduation": {
  "progress": 0.4,        // 0..1 toward the milestone
  "graduated": false      // crossed the threshold?
}

Progress blends net buying and locked liquidity against a threshold. It is a monotonic-ish traction score, not a curve fill percentage; there is no curve to fill. The exact thresholds are indexer configuration and may be tuned; consumers should treat graduated as the authoritative boolean and progress as a display hint.

Reading graduation

The Public API exposes graduation in two places:

• Each coin in the launches feed (GET {INDEXER_URL}/coins) carries a graduation object.
• A dedicated endpoint returns milestone detail: GET {INDEXER_URL}/coins/:address/graduation.

The launches feed also supports graduation-aware ordering via ?filter=:

filter	meaning
soon	not-yet-graduated, nearest the graduation milestone
escaped	graduated tokens

Related

• Public API: the endpoints and coin shape.
• Overview: why there is no on-chain graduation.