> For the complete documentation index, see [llms.txt](https://docs.loadout.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.loadout.xyz/overview/graduation/studio-graduation.md).

# Studio Graduation

Game tokens graduate when they reach their configured real SOL reserve target and the migration completes.

### New launch settings

| Setting                        | Curated Launch                                   | Instant Launch                                   |
| ------------------------------ | ------------------------------------------------ | ------------------------------------------------ |
| Real reserve target            | 150 SOL                                          | 85 SOL                                           |
| Standard curve trading fee     | 5%                                               | 5%                                               |
| Studio curve allocation        | 4 percentage points, before studio buybacks      | 4 percentage points, before studio buybacks      |
| Gross Loadout curve allocation | 1 percentage point, before referrals and rebates | 1 percentage point, before referrals and rebates |
| Standard official-pool fee     | 2%                                               | 2%                                               |

These are the targets for new launches. Check the project's own terms and final launch preview. Earlier launches can have different configurations.

### Follow the funds

**Curve trading → 150 SOL curated / 85 SOL instant target → graduation → official Meteora pool.**

Real curve reserves seed the pool. The original graduation liquidity position is permanently locked. Studio trading-fee income is accounted for separately and supports development after any configured buyback allocation.

Under the updated buyback flow, graduation also moves the selected buyback share of accumulated pre-graduation studio fees into the project's buyback escrow. Anti-sniper receipts are included in that funding base. The buyback process then purchases and burns the project's token after graduation.

### Ongoing studio income

After graduation, the studio receives its share of fees earned by the relevant controlled position. Meteora takes its fee first. Compounding and the position's allocation policy also matter.

A 2% pool fee does not mean the studio receives 2% of every trade across every market. Independent pools and other LP positions have their own fee rights. [Fee Structure](https://loadout.gitbook.io/product-docs/overview/fees) gives a worked example.

### Earlier launches

GOOSE's original 1,000 SOL target was reduced to 220 SOL before it graduated. That history does not set the target for new launches. LOAD's separate completed graduation is covered in [LOAD Graduation](https://loadout.gitbook.io/product-docs/overview/graduation/load-graduation).