Token Lifecycle — Create, Trade, Graduate, Migrate & Collect

Manage the full lifecycle of Pump tokens from creation through bonding curve trading, graduation detection, AMM migration, fee collection, and volume tracking — using the offline PumpSdk and online OnlinePumpSdk.

Context

Pump tokens follow a defined lifecycle: creation → bonding curve trading → graduation (when market cap reaches threshold) → AMM migration → AMM trading. The SDK provides instruction builders for each phase, with both offline (no RPC) and online (live fetches) variants.

Lifecycle Phases

Phase 1: Token Creation

// V2 creation with Token-2022 (preferred)
const ix = await PUMP_SDK.createV2Instruction({
    mint, name, symbol, uri, creator, user,
});

// Create and immediately buy in same transaction
const ixs = await PUMP_SDK.createV2AndBuyInstructions({
    global, feeConfig, mint, name, symbol, uri,
    creator, user, solAmount, amount, slippage
});

• createInstruction (v1) is deprecated — use createV2Instruction (Token-2022)
• Token-2022 enables advanced token features (transfer hooks, confidential transfers)
• Mayhem mode tokens use additional Mayhem program PDAs

Phase 2: Bonding Curve Trading

// Buy
const { bondingCurve } = await onlineSdk.fetchBuyState(mint, user);
const amount = getBuyTokenAmountFromSolAmount({ global, feeConfig, mintSupply, bondingCurve, amount: solAmount });
const ixs = await PUMP_SDK.buyInstructions({ global, bondingCurveAccountInfo, bondingCurve, associatedUserAccountInfo, mint, user, solAmount, amount, slippage: 1 });

// Sell
const solAmount = getSellSolAmountFromTokenAmount({ global, feeConfig, mintSupply, bondingCurve, amount });
const ixs = await PUMP_SDK.sellInstructions({ global, bondingCurveAccountInfo, bondingCurve, mint, user, amount, solAmount, slippage: 1 });

Phase 3: Graduation Detection

const bondingCurve = await onlineSdk.fetchBondingCurve(mint);
if (bondingCurve.complete) {
    // Token has graduated — must migrate to AMM
}

Phase 4: AMM Migration

const extendIx = await PUMP_SDK.extendAccountInstruction({ bondingCurvePda, bondingCurveAccountInfo });
const migrateIx = await PUMP_SDK.migrateInstruction({ mint, creator });

Phase 5: Post-Migration (AMM Trading)

After migration, the SDK's "BothPrograms" methods handle trading transparently across Pump and PumpAMM.

Phase 6: Creator Fee Collection

const ixs = await onlineSdk.collectCoinCreatorFeeInstructions(creator);
const balance = await onlineSdk.getCreatorVaultBalanceBothPrograms(creator);

Key Constants

State Transition Diagram

              create
    ────────────────────── ►  ACTIVE (BondingCurve)
                                    │
                               buy / sell
                                    │
                              graduation
                          (complete = true)
                                    │
                               migrate
                                    ▼
                              GRADUATED (AMM Pool)
                                    │
                              AMM trading + fee collection

Patterns to Follow

• Return TransactionInstruction[], never Transaction objects
• Use getMultipleAccountsInfo to batch RPC calls
• Check bondingCurve.complete before any bonding curve operation
• Use fetchBuyState / fetchSellState for efficient account fetching
• Always extend account before migration if needed

Common Pitfalls

• BondingCurve.complete === true means graduated — buy/sell will fail on-chain
• Creator vault PDAs differ: "creator-vault" (Pump, hyphen) vs "creator_vault" (AMM, underscore)
• fetchSellState requires ATA to exist (unlike fetchBuyState)
• Fee recipient is selected randomly from global.feeRecipients[]