Memecoin glossary
Migration: when a coin graduates from the curve
Migration is the moment a launchpad coin's bonding curve fills and its SOL and tokens move into a real pool on an automated market maker. From then on it trades like any other coin, with pool liquidity instead of a formula.
Updated Oct 30, 2026
What is migration?
On pump.fun, a coin lives on a bonding curve until about 85 SOL has been put in. When that line is crossed, the launchpad creates a pool on an AMM. An AMM is an automated market maker: a program that holds SOL and tokens and sets a price from the ratio between them.
The SOL from the curve and the remaining tokens become that pool's liquidity. The coin is now migrated, or graduated. The curve is gone.
Why do traders watch it?
Migration is a moment where a lot happens at once. Many traders buy just before it, hoping the coin pops once it is listed on a real pool. Many early holders sell right after, because the pool finally has enough SOL to absorb a large exit.
Remember who the early holders are: the dev, the bundle and the snipers. Their cheap supply often gets sold into the first pump after migration. If you buy at that moment, you may be the exit.
What changes after migration?
A few things are different once a coin is in a pool.
- Price impact depends on pool liquidity, not a curve formula. A thin pool still means wild moves.
- The swap fee changes. On PumpSwap it is about 0.30%, compared with 1.25% on the curve. Other AMMs charge around 0.25%.
- Liquidity can be locked, burned or, in the worst case, pulled. Check which before you buy.
- The coin appears on chart sites like DexScreener with a pool address and pair data.
How MemeSim simulates it
MemeSim tracks each coin's status as curve, migrated or dead, and applies the matching swap fee: 1.25% on the curve, 0.30% on PumpSwap, 0.25% on other AMMs. Pulse's Final stretch column shows coins close to the line so you can practice trading the moment with fake SOL.
The Bonding curve and migration lesson covers the whole arc in four minutes with a quiz.
Questions
- Is migration good for the price?
- Sometimes it brings a pop. Just as often early holders sell into it. It is a moment of risk in both directions.
- How long does migration take?
- On pump.fun it is close to instant once the curve fills. The pool appears within moments.
- Can a migrated coin still rug?
- Yes, through a dev dump or a liquidity pull if the liquidity is not locked or burned.