Graduation

perpgame tokens don't graduate. There's no graduation event — and that's by design.

On pump-style launchpads, a token trades on a temporary bonding curve until it hits a threshold, then "graduates" to an external exchange (like a Uniswap pool). That moment is risky: it's a common point for rugs, liquidity games, and confusion about where the real market is.

perpgame works differently:

• The bonding curve is the permanent market. Buys mint tokens and grow the vault; sells burn tokens and return value. The same market runs from launch forever — there's nothing to migrate to.
• Value comes from treasury assets, not a graduation pool. Sells redeem against the treasury rather than migrating to a new venue. Actual execution still depends on LT redemption capacity or Robinhood Chain swap liquidity, and trading pauses during in-flight rebalances.
• No graduation cliff. No sudden migration, no liquidity that can vanish at a threshold, no separate venue to track.

So if you're used to asking "has it graduated yet?" — on perpgame the question does not apply. The same curve and treasury remain in place after deployment.

See How it works for the mechanics, or Risks & Security for what can affect your position.