After Graduation
Graduation is a beginning, not an endpoint. When a token moves on-chain, the nature of participation changes - but the same core principles that governed the bonding curve phase carry forward.
What Changes at Graduation
The token is now an ERC20. Post-graduation, the token trades on on-chain markets rather than Spawn's off-chain engine. Holders interact with it through standard on-chain mechanisms.
Liquidity is on-chain. The seeded liquidity pool from graduation provides the market depth for post-graduation trading. The community's collective participation in the bonding curve phase directly shapes the starting conditions of the on-chain market.
Tokens are airdropped automatically. There's no claim transaction to submit. When a token graduates, Spawn distributes tokens directly to every holder's wallet based on their bonding curve position. You don't need to take any action - your tokens arrive.
Post-Graduation Fees and Token Health
After graduation, trades on the on-chain market carry a 1% fee. This fee doesn't flow to Spawn or to early insiders - it's deployed automatically to benefit the token itself.
The mechanism is automatic buy and burn: fees collected from trading activity are used to buy back the token from the open market and permanently remove it from supply. This reduces circulating supply over time, strengthens liquidity depth, and creates continuous buying pressure that's entirely independent of new participants entering the market.
The result is a post-graduation token that gets structurally healthier as it trades - not one that bleeds value into a fee sink.
Buy and burn is community-first by design. The tokens that graduate on Spawn don't just survive graduation - they're built to strengthen after it.
What Sustains a Post-Graduation Token
The bonding curve phase tests early conviction. The post-graduation phase tests whether that conviction lasts. The tokens that build durable communities after graduation share a few characteristics:
- A clear and ongoing narrative that continues past the launch moment
- Community participation that goes beyond early buyers looking for a quick exit
- Ongoing market activity that reflects real utility or cultural staying power
Spawn's design gets a token to graduation. What happens after is shaped by the community it built.