Graduation
Graduation moves the same token from its curve into a funded spot pool and a margin market. It occurs at exactly 2,200 net USDC.
| Graduation funding | Destination |
|---|---|
| 2,100 USDC and remaining curve tokens | Spot liquidity pool |
| 100 USDC | USDC lending vault for longs |
| 200 million tokens | Token lending vault for shorts |
| 100 million tokens | Creator's wallet |
The factory completes these steps in one transaction. The curve then stops trading and buys/sells use the spot pool.
The last buy may complete graduation automatically if it has enough gas. If it does not, anyone can call Complete bonding. A successful final buy stays completed even if graduation is deferred.
Graduation moves liquidity into Windup's own token/USDC pool.
The initial spot and lending shares stay in the launch factory. Its contracts have no function allowing an administrator to withdraw or distribute those shares.
After graduation, Windup establishes the market's price feed and opens long and short trading. Order sizes depend on available lending inventory, pool liquidity and the market's risk limits.