Docs / The mechanism / Graduate in place
Graduate in place.
At the threshold, the same pool flips from curve mode to open AMM mode. The liquidity never leaves the hook.
On the incumbent model a token graduates by migrating its liquidity to a new venue, which resets depth and introduces a new contract. UNTOLL does not migrate.
The flip, not the move
When a token reaches the graduation threshold, the hook flips the pool out of curve-pricing and seeds the accumulated quote as protocol-owned liquidity in the same PoolId. There is no migration event, no new contract, and no discrete moment where liquidity is in transit. This is the physical meaning of "hooked": the liquidity is bound to the pool and cannot be withdrawn.
| Incumbent (migrate) | UNTOLL (in place) | |
|---|---|---|
| At graduation | Liquidity moves to a new venue | Same pool flips to open AMM |
| Depth | Resets on the new venue | Carries through, then compounds |
| The fee hook | Left behind | Stays attached, splits forever |
| New contract to trust | Yes | No |
The hook stays attached forever
After graduation the hook is not removed. It remains on every swap through that pool and keeps splitting the fee four ways on-chain. One hook, many pools: one pool per token, all sharing the same canonical behavior. The fee routing and the perpetual revenue are the same code, running on every trade for the life of the token.
Why retention is possible Because the liquidity graduates in place and stays, it can be kept and compounded rather than burned. Migration sheds it; staying lets it deepen. The next page covers what retention enables.