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The graduation rate for tokens on Pump.fun climbed following the platform's rollout of BOOST, a feature described as changing launch incentives. The mechanism is the part worth reading carefully.
BOOST activates after bonding, not before BOOST comes into effect only after a token has already bonded on Pump.fun, placing it downstream of the threshold event that determines whether a token graduates at all.
A feature that activates post-bond has no mechanical path to increase the share of tokens that reach the bonding threshold. That is the gap between the headline and the product spec. The point is worth slowing down on.
Graduation rate measures how many launched tokens complete the full journey to an open market. The bonding step is the hard filter.
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