How much SOL does it take for a pump.fun coin to graduate?

About 85 SOL of net buying, before fees, for a standard SOL-paired coin. That figure follows from the virtual reserves stored on-chain (30 SOL and 1,073,000,000 tokens) and the 793.1M tokens the curve sells, read on 4 November 2026.

What market cap does a pump.fun coin graduate at?

About 411 SOL, counting all 1 billion tokens at the final curve price. In dollars it depends on the SOL price at the time; it is not a fixed dollar figure.

Why did the price jump so much after a small buy?

Because the curve gets steeper as it sells. The first 100M tokens cost about 3.1 SOL, while the last 93M cost about 29 SOL. Late buys move the price far more than early ones.

Can I sell back to the bonding curve?

Yes. Until a coin graduates, every sell goes back into the same curve and lowers the price along the same formula, minus the 1.25% fee. After graduation you sell on PumpSwap instead.

pump.fun Bonding Curve Explained: Price, Reserves (2026)

Every pump.fun coin starts life on a bonding curve: a pricing formula built into pump.fun’s smart contract. There is no order book and no market maker. You buy from the contract and sell back to it, and the formula sets the price from how many tokens it has left.

The numbers on this page come from the chain. We read pump.fun’s Global settings account (4wTV1Ymi…jaxnjf, owned by the pump.fun program 6EF8rrec…F6P) through public Solana RPC on 4 November 2026 and computed the curve from it. They describe a standard SOL-paired coin. USDC-paired and custom-pair coins use their own quote asset, and we haven’t checked their settings separately.

The formula

The curve works like a simple exchange pool with two balances, SOL and tokens, whose product stays constant:

SOL reserve × token reserve = constant

The trick is that both balances start partly virtual: they exist in the formula but not as real coins in the account. On 4 November 2026 the Global settings were:

Setting	Value
Virtual SOL reserve at start	30 SOL
Virtual token reserve at start	1,073,000,000
Real tokens the curve can sell	793,100,000
Total supply per coin	1,000,000,000
Protocol fee	95 basis points (0.95%)

The virtual 30 SOL means the first buyer doesn’t get the whole supply for almost nothing. The price at any moment is the SOL reserve divided by the token reserve. At the start that is 30 ÷ 1,073,000,000 ≈ 0.000000028 SOL per token, or a market value of about 28 SOL for the full billion.

How the price moves

Each buy adds SOL and removes tokens, so the price climbs; each sell does the reverse. The curve gets steeper as it sells out:

Tokens sold from the curve	SOL put in (before fees)	Market value (1B tokens)	Price vs start
0	0	28.0 SOL	1.0×
100M	3.1 SOL	34.0 SOL	1.2×
200M	6.9 SOL	42.2 SOL	1.5×
400M	17.8 SOL	71.1 SOL	2.5×
600M	38.1 SOL	143.9 SOL	5.1×
700M	56.3 SOL	231.4 SOL	8.3×
793.1M (sold out)	85.0 SOL	410.9 SOL	14.7×

Two consequences matter for traders:

Early buys are cheap, late buys are expensive. A 1 SOL buy as the very first trade gets about 34.6M tokens, 3.5% of the supply. The last 93M tokens cost about 29 SOL.
Price is not value. The “market cap” shown on a curve coin is just the latest price times one billion. Very little SOL may sit behind it: at a 143.9 SOL market value the curve holds only about 38 SOL.

Fees come on top: every curve trade pays 1.25% (0.95% to pump.fun, 0.30% to the coin’s creator), plus a 0.40–0.45% Platform Fee if you trade in pump.fun’s own app. See what a trade costs.

When a coin graduates

A coin graduates when the curve has sold all 793.1M of its tokens. At that point about 85 SOL has gone in and the price is about 14.7 times its starting level. The contract marks the curve complete and stops trading on it.

The SOL raised and the 206.9M tokens the curve never sold (1B minus 793.1M) then seed the coin’s pool on PumpSwap, pump.fun’s exchange. The pool opens at the same price the curve ended on, about 411 SOL of market value, which is why pump.fun’s PumpSwap fee table starts its first tier at “below 420 SOL”. pump.fun charges 0.015 SOL per graduation. Before PumpSwap launched on 20 March 2025, graduates went to Raydium and paid 6 SOL.

pump.fun’s newsletter says that since 21 July 2026 a mechanism it calls BOOST mode puts liquidity “previously lost forever on migration” back into each graduated coin through buybacks and burns in the minutes after graduation. pump.fun hasn’t published the exact amounts per coin.

Read more in what graduation means and PumpSwap.

Exceptions to know

Mayhem Mode coins have 2B tokens: pump.fun’s AI agent mints an extra billion to trade during the first 24 hours, then burns what it didn’t sell. pump.fun says the starting market value and liquidity are the same as a normal coin’s. See Mayhem Mode.
Settings can change. The Global account is controlled by pump.fun and can be updated. Read the current values from the chain, or from the coin page in the app, before relying on any number here.
Bonding curve progress bars in apps show how much of the 793.1M has sold. A coin at 90% can still collapse: sells push the price back down the same curve.

What the curve does not protect you from

The curve guarantees you can always sell back to it until graduation, but not at the price you paid. Snipers, bundled creator wallets and coordinated dumps all trade against the same formula. Most coins never graduate, and most that do lose value afterwards. Before buying, check the coin and read how to spot a rug.

The pump.fun bonding curve, explained