Glossary
Migration (graduation)
Migration, also called graduation, is when a launchpad moves a token off its bonding curve and into an exchange pool, usually once a set amount has been bought into the curve. Before it, trades go through the curve; after it, through the pool. The pool is PumpSwap on pump.fun, Uniswap V4 on Pons and a PancakeSwap pool on flap.sh.
Migration changes where a sell has to go, so a tool that sells for you has to check the token’s state. Ballistic does that per sale: on pump.fun it sells into the curve until the curve is complete and through PumpSwap after; on Pons it resolves curve or Uniswap V4 live; on flap.sh it sells into the curve until the token graduates and through the PancakeSwap pool after.
Why timing matters. A holder can sell on the curve right up to migration, and the pool takes over after it. The two venues have different prices and different fees, so a tool that sells for you has to read the token’s state first.
On Pons, graduated liquidity is locked permanently in Pons’ locker, as of 2026-10-29. Pons pays creators a share of the graduated pool’s fee plus the creator tax, which Ballistic can claim. These are the launchpad’s rules, not Ballistic’s.
Questions
What happens to curve liquidity at migration?
The launchpad moves it into an exchange pool. On pump.fun that pool is PumpSwap; on Pons it is a Uniswap V4 pool.
Is migration the same as graduation?
Yes. Both words mean the move from the bonding curve to the exchange pool.
How does Ballistic sell across migration?
It checks where the token trades for each sale: the curve until it completes, then the pool. One aggregated sell covers both.