Graduation

PumpSwap (pAMMBay6oceH9fJKBRHGP5D4bD4sWpmSwMn52FMfXEA) is the only V1 graduation venue. When the last curve token is bought, the launch enters GRADUATING and curve trading stops. Anyone can then send prepare_graduation + graduate:

1. The curve's real SOL moves to the launch's GraduationVault PDA; the configured graduation fee goes to the treasury.
2. quoteIn = rS − fee − rentReserve and baseIn = min(vaultTokens, floor(quoteIn · vT / vS)) — so the pool opens at the curve's final spot price. Tokens beyond baseIn are burned.
3. The vault wraps quoteIn to WSOL and CPIs PumpSwap create_pool, signed by the GraduationVault PDA. LP tokens land in the PDA's account.
4. The program records the pool, LP mint, LP amount and the pool's √k / lpSupply reference; status becomes GRADUATED.

Non-canonical pool

The pool's creator is SWEEP's GraduationVault PDA rather than Pump's pool authority, so it is a non-canonical PumpSwap pool. PumpSwap coin-creator fees do not apply; the program passes coin_creator = default.

LP revenue harvesting

PumpSwap LP fees stay in the pool and raise √(base · quote) / lpSupply. Swaps can only increase that ratio, which makes it a manipulation-resistant measure of fee revenue. harvest_lp_revenue (permissionless, at most once per the launch's harvest interval, never shorter than one hour) withdraws exactly the LP fraction (R − R₀) / R that represents revenue since the last harvest, leaving the principal untouched. The SOL side is split — the launch's LP revenue share goes to the Sweep Vault, the rest to the treasury — and the token side is burned. There is no instruction that withdraws principal LP. If PumpSwap changes would make harvesting unsafe (for example non-zero virtual quote reserves), the instruction refuses and liquidity stays locked.