> For the complete documentation index, see [llms.txt](https://realmtrade.gitbook.io/realm-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://realmtrade.gitbook.io/realm-documentation/uniswap-v2-tokens/graduation.md).

# Graduation

Uniswap V2 tokens only. How a bonding-curve token moves to Uniswap V2.

When the graduation criteria are met, a bonding-curve token's liquidity is automatically deployed to Uniswap V2.

{% hint style="info" %}
**Uniswap V2 tokens only.** This page applies to tokens launched on the bonding curve, which exists to support Uniswap V2. It does not apply to Uniswap V4 tokens: those are [direct launches](/realm-documentation/basics/direct-launch.md), with no bonding curve, no liquidity tier and no graduation.
{% endhint %}

#### Graduation Criteria

Graduation triggers once the ETH collected on the bonding curve reaches the token's **graduation threshold**. The threshold depends on the [liquidity tier](/realm-documentation/uniswap-v2-tokens/liquidity-tiers.md) chosen at launch:

| Tier                   | Graduation threshold | ETH into liquidity | Market cap at graduation |
| ---------------------- | -------------------- | ------------------ | ------------------------ |
| Small                  | 2.0 ETH              | 1.75 ETH           | 6.125 ETH                |
| **Standard** (default) | **3.75 ETH**         | **3.5 ETH**        | **12.25 ETH**            |
| Large                  | 7.25 ETH             | 7.0 ETH            | 24.5 ETH                 |

Every tier deploys the same **285.7M tokens** (28.57% of the 1B total supply) into liquidity. Only the ETH depth and the price scale differ.

ETH market caps are fixed; the dollar value varies with the ETH price.

#### Graduation Process

* Graduation happens automatically, in the same transaction as the purchase that crosses the threshold. Nobody has to trigger it manually, and Realm cannot delay or block it
* The graduation fee is **0.25 ETH**, split between the creator, the Treasury and the triggerer — see [Fee Structure](/realm-documentation/basics/fee-structure.md)
* The creator receives **0.175 ETH** (70% of the fee) as compensation, claimable from their profile page
* The buyer whose purchase triggers graduation receives **0.005 ETH**, offsetting the extra gas of deploying the pair. It comes out of the Treasury's share
* Liquidity is deployed in a Uniswap V2 pair

{% hint style="info" %}
A buy that would push ETH collected more than **0.05 ETH** past the threshold is rejected. This keeps the graduation price predictable — no single whale can overshoot the curve.
{% endhint %}

#### Trading Post-graduation

* Token trades freely on Uniswap V2
* Traders pay Uniswap's native 0.3% fee, accruing to the locked liquidity — Realm takes nothing
* Taxes, if configured, keep accruing to the creator for as long as the creator chose. See [Fee Structure](/realm-documentation/basics/fee-structure.md)

Creators who want LP fees on every trade launch on Uniswap V4 through a [direct launch](/realm-documentation/basics/direct-launch.md) instead.

#### Permanent Liquidity

LP tokens are sent to a dead address (`0x…dEaD`) at graduation. Nobody can ever withdraw the liquidity.