What graduation means
What graduation means for your domain and what changes when it happens
What Does "Graduation" Mean?
Every domain launching on Doma starts on a bonding curve. The domain owner sells a partial share of the domain into the curve, along with a Starting FDV and a Bonding FDV.
For example, with smoothie.com, the owner sold 10% of the domain into the curve, with a Starting FDV of $300K and a Bonding FDV of $350K.
While bonding is active, you buy tokens directly from the curve. So if you're the first to buy 1,000 tokens out of a 1,000,000 total supply, you've literally bought 1% of the domain from the curve.
Once the bonding curve fills completely, the domain graduates — meaning public trading opens up.
You can track how close a domain is to graduating right on its token page, including how much more commitment is needed to get there.