What graduation means
When the Feather Curve completes, curve trading closes permanently and Feather-routed trading uses a designated pair backed by the graduation liquidity.
Initial liquidity lock
The tokens that grant withdrawal rights to the initial graduation liquidity are permanently locked. This statement applies to the initial liquidity created through the Feather graduation flow; market prices and third-party activity can still change.
Terminal buy refund
If this buy completes the Feather Curve, only the ETH needed for the remaining tokens and the curve fee is used. The contract returns the rest.
Race conditions
If a token graduates before your curve trade completes, that trade can fail. Refresh to obtain a routed-market quote and submit a new transaction.