Docs
Graduation, Pool and Floor
What happens when a curve reaches its threshold, where the HYPE and tokens go, and how the 72-hour Floor works.
The threshold
A token graduates when its curve holds 300 HYPE net of fees. On testnet the threshold is 0.3 HYPE. At that point all 800,000,000 curve tokens are sold.
The buy that reaches the threshold graduates the token in the same transaction. If the buy is larger than what is left, only the part that fits is filled and the rest is refunded.
Graduation creates a pool and needs about 7M gas. A wallet that sets less gets a clear revert (InsufficientGasForGraduation) instead of a half-finished graduation. The site sets the gas for you. If graduation is ever deferred, anyone can call graduate() on the curve, and trading on the curve stays closed until it runs.
What moves where
With R HYPE raised (300 on mainnet):
| Step | Amount | Destination |
|---|---|---|
| Floor budget | 1% of R (3 HYPE) | AnemosFloor |
| Pool HYPE | R minus the Floor budget (297 HYPE) | Uniswap V3 pool |
| Pool tokens | 200,000,000 plus any rounding dust left on the curve | Uniswap V3 pool |
| Position NFT | The full-range liquidity position | AnemosLPLocker, forever |
The pool opens at (R − Floor budget) / tokens. That is the graduation price: 297 / 200,000,000 ≈ 0.000001485 HYPE per token on mainnet. Any tokens the position cannot take are burned. Any HYPE it cannot take is added to the Floor.
The pool
ANEMOS opens a full-range position on the Uniswap V3 1% fee tier, pairing the token with WHYPE.
| Testnet (99801) | Address |
|---|---|
| NonfungiblePositionManager | 0x28580f9baeDDBc88D3Daca542aF12271E52B5765 |
| UniswapV3Factory | 0x520bF060F58ceE054f725877279328F5f73A7893 |
| WHYPE | 0xCD57F65c2B0e5881CFC2E609F7CD53b746E1F234 |
There is no canonical Uniswap deployment on Elysium testnet. Several teams have deployed their own. ANEMOS uses the most-used one, a third-party deployment. The mainnet addresses are a configuration change.
Trading after graduation goes through the ANEMOS router, which wraps and unwraps HYPE for you. The pool is a standard Uniswap V3 pool, so any V3 router can trade it too.
LP is locked forever
The position NFT is held by AnemosLPLocker. The locker has no owner, no function to transfer a position and no function to decrease liquidity. Liquidity that enters it can never leave.
The locker can do two things:
- Collect fees. Anyone can call
collectFees(token). The HYPE side of the 1% pool fee goes to the FeeRouter and is split 40/20/20/10/10 like curve fees. The token side is burned. - Add liquidity. The Floor sends its unspent HYPE here after 72 hours.
Nobody can open the pool early
Until graduation, tokens cannot be sent to the token's own pool address. This stops anyone from seeding the graduation pool at a fake price while the curve is still trading. The rule switches off forever at graduation.
Anyone can still create and initialize an empty pool at a wrong price. If that happened, the Graduator swaps the price back to the graduation price before adding liquidity. Because no tokens could reach the pool, this correction never pays the attacker.
The Floor
At graduation, 1% of the raised HYPE becomes a standing buy order.
| Value | |
|---|---|
| Budget | 1% of the HYPE raised (3 HYPE on mainnet, 0.003 on testnet) |
| Floor price | Graduation price × 0.70, which is −30% |
| Lifetime | 72 hours from graduation |
While the Floor is active, anyone can sell tokens to it at the floor price with sellToFloor. If the remaining budget cannot buy everything you sell, it takes the part it can afford and leaves the rest with you. When the budget runs out, the Floor closes.
Tokens the Floor buys are burned. A full-range V3 position cannot take tokens alone at the current price, so burning is the clean way to retire them. It reduces supply for every remaining holder.
The sweep
After 72 hours, anyone can call sweep(token) on the Floor. Whatever HYPE is left goes to the locker. Half is swapped to the token through the pool, and both are added to the locked position. The Floor money that was not spent becomes permanent liquidity.
The Floor budget is finite. It is 1% of the raise, not a guarantee of price. Once it is spent, or after 72 hours, there is no floor.
Questions? Ask on X → @AnemosPad