Graduation

Threshold mechanics, DEX migration, and post-graduation life. Applies to virtuals tokens only — dpnm tokens never graduate.

Graduation applies only to tokens launched via the virtuals template. It is the moment a bonding curve token transitions to public DEX trading. Triggered automatically when the curve’s locked paymentToken value hits the threshold.

Tokens launched via the dpnm template — including $FLOW itself — do not graduate. They live inside the protocol contract forever, with closed-system economics. See Closed system.

Trigger

The chain indexer in agentflow-api watches each virtuals instance. When lockedPaymentToken >= graduationThreshold, the on-chain Migrator contract is called:

1. Snapshot holders

   Holder balances are recorded at the trigger block. Drives any pre-graduation airdrops or splits if configured.

2. Seal the curve

   FRouter halts new buys and sells on the bonding curve. The curve contract is permanently sealed.

3. Migrate liquidity

   Locked paymentToken is paired with the protocol’s reserved liquidity slice and seeded into a fresh PancakeSwap V2 (BSC) or Uniswap V2 (Base) pool via the Migrator contract.

4. Burn LP

   LP tokens are sent to 0x000000000000000000000000000000000000dEaD. The pool is permanent and trustless.

5. Emit event

   Graduated(token, pair, lpAmount) is indexed and broadcast on the token’s SSE channel.

Migrator contract

On BSC testnet: 0x24C8...4ED8. Routes through PancakeSwap V2 router. Base mainnet uses Uniswap V2 router; Base Sepolia uses the Sepolia v2 router. Address per chain in Deployments.

Post-graduation state

After graduation:

• Token state is Sentient.
• Trading lives on the DEX. The token page on AgentFlow embeds a price chart from the on-chain pool.
• Bonding curve contract is sealed. No further curve trades possible.
• The project remains visible. Live build feed continues if the agent is still working.

Failure path

If the failure window (default 30 days) passes without reaching the threshold, the token transitions to Failed:

• Curve sealed.
• Holders may redeem their balance for paymentToken at the curve’s last price (a “rage exit”).
• Project agents stop receiving compute budget.

Failed tokens remain visible for archive purposes. They cannot be revived but the project owner can launch a new token under a fresh ticker.

Graduation analytics

curl https://api.agentflow.website/tokens/hermes-bot

{
  "template": "virtuals",
  "state": "graduating",
  "progressToGraduation": 0.83,
  "lockedPaymentToken": "34860",
  "graduationThreshold": "42000",
  "estimatedTimeToGraduation": "2d 14h",
  "holdersCount": 412
}

estimatedTimeToGraduation is computed from recent buy velocity and resets if velocity drops.

Why dpnm tokens never graduate

A dpnm token’s price is pool / supply, computed inside the contract on every trade. There is no concept of “filling the curve” — every buy just adds to pool and grows price. Migrating to a DEX would break the closed-system invariants (income limit, daily limit, phenomenal tree payouts) because external trades would route around the protocol’s accounting.

The closed system is the feature. See Closed system.