What Does Migrated Mean in Crypto?
In meme coins, migrated means a coin has filled its launchpad bonding curve and its liquidity has moved to a regular DEX pool — on Pump.fun that pool is on PumpSwap. More generally, a token migration is any move of a token or its liquidity to a new contract or chain.
Migration on Pump.fun and other launchpads
A new coin on a launchpad trades against a bonding curve: the price rises as people buy. When enough SOL has gone into the curve — about 85 SOL on Pump.fun — the curve is complete and the coin migrates. The collected SOL and the remaining tokens are put into a DEX pool, and trading continues there.
Where it goes depends on the launchpad: Pump.fun coins move to PumpSwap, Bonk.fun coins to a Raydium pool, Bags coins to a Meteora pool. Trading terminals and DexScreener usually label these coins as migrated, graduated or bonded.
What changes after migration
The price is no longer set by the curve but by the pool, so large buys and sells move it according to the pool's depth. The coin becomes visible on more charting sites and aggregators, and trading fees switch to the DEX's fees.
Migration is a milestone, not a guarantee. Only a small share of launches ever get there, and many coins drop right after it, when early buyers take profit.
Token migration in general
Outside launchpads, a migration can mean a project moving its token to a new contract (a V2 token you swap the old one for), to another chain, or its liquidity to a different DEX. If a project announces one, check it on the official site and socials — fake migration links are a common scam.
Questions
Is migrated the same as graduated?
On launchpads, yes. Pump.fun calls it graduation; trading terminals often say migrated or bonded. All mean the bonding curve is complete and the coin trades in a DEX pool.
How much does a coin need to migrate on Pump.fun?
About 85 SOL has to go into the bonding curve. The dollar market cap at that point depends on the SOL price.
Is a migrated coin safer?
Not by itself. Migration shows there was demand, but holders can still sell, and concentrated wallets from launch can still dump. Check who holds the supply before buying.
Do I need to do anything when a coin I hold migrates?
No. Your tokens stay in your wallet; you simply trade them on the DEX pool afterwards.