Before graduation
A Meteora Dynamic Bonding Curve pool provides the initial market for a HYMET token. The token is paired with HYPE, and trades follow the pool's fixed curve and selected trading fee.
Graduation depends on the HYPE held by the curve, about 96.07 HYPE, which corresponds to a 447 HYPE market cap. These values do not guarantee a particular dollar valuation or trading outcome.
Graduation and migration
When a buy completes the curve, the keeper migrates the pool to DAMM v2 and registers the canonical pool that Meteora's migration creates. Any later keeper run finishes the work if the first attempt is interrupted.
A progress reading is not proof that migration finished. HYMET checks the DBC state and verifies the DAMM v2 destination account and token pair before reporting a migration as verified. After migration, the DBC route is closed and trading continues through DAMM v2.
Liquidity and fees after migration
With a holder share, DAMM v2 position fees are settled into the same distributor and split exactly as before: 20% to HYMET, then the creator and holder shares fixed at launch. DBC fees still uncollected at migration are settled the same way. The distributor has no instruction that removes liquidity or moves the position.
In a 100% creator launch, the 20/80 figures are liquidity allocations, and each position owner claims the fees of its own position.
- Launch with a holder share
- 100% of migration liquidity in a position owned by the distributor's fee pool
- 100% creator launch
- 20% in a HYMET position, 80% in a creator position
- Position lock
- Permanent for all positions
- Trading fee after migration
- The same flat rate selected at launch
- Custom migration fee
- 0