# Graduation to Camelot

Graduation is the switch from the bonding curve to **Camelot**.

It happens automatically when a token reaches **14,228 APE** raised.

### What happens at graduation

When the threshold is hit:

* bonding curve trading ends
* liquidity is created on Camelot
* LP tokens are permanently burned

No one can unlock that LP later.

### Why this matters

Graduation gives the token a clean next stage.

It means:

* no manual migration for users
* no private LP control
* no later LP rug through unlocked pool tokens

### For traders

Before graduation, you trade on the Chimpx curve.

After graduation, you trade on Camelot.

The token page updates to reflect that change.

### For creators

Graduation is a major milestone.

Creators earn **+1000 XP** when one of their tokens graduates.

{% hint style="success" %}
Graduation is permanent. Once a token moves on, it does not go back to the curve.
{% endhint %}

### Next steps

Read [Fees and limits](/fees-and-limits.md) for the exact fee model.


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