owned
Live
NVDAxNVDAx$234.22▲ 1.0%AAPLxAAPLx$332.66▲ 0.9%AMZNxAMZNx$250.81▲ 0.7%COINxCOINx$183.61▼ 3.7%COPXCOPX$84.92▲ 1.5%CRCLxCRCLx$81.65▼ 2.6%DRAMDRAM$61.28▼ 1.4%GLDxGLDx$379.98▼ 0.4%GMExGMEx$25.33▲ 4.4%GOOGLxGOOGLx$342.55▲ 1.2%HOODxHOODx$112.83▼ 0.1%MCDxMCDx$232.50▲ 0.1%METAxMETAx$726.47▼ 0.2%MRNAMRNA$189.29▲ 0.3%MSFTxMSFTx$516.27▲ 0.1%MSTRMSTR$160.94▼ 1.4%MSTRxMSTRx$161.50▼ 0.7%MUMU$1,068.01▼ 1.9%NKENKE$33.85▲ 6.1%PLTRxPLTRx$188.44▼ 1.4%QQQxQQQx$749.77▲ 0.8%SNDKSNDK$1,720.43▼ 3.9%SOLSOL$118.90▼ 0.9%SPCXSPCX$158.82▲ 6.5%SPYxSPYx$770.53▲ 0.7%TSLAxTSLAx$370.57▲ 4.2%NVDAxNVDAx$234.22▲ 1.0%AAPLxAAPLx$332.66▲ 0.9%AMZNxAMZNx$250.81▲ 0.7%COINxCOINx$183.61▼ 3.7%COPXCOPX$84.92▲ 1.5%CRCLxCRCLx$81.65▼ 2.6%DRAMDRAM$61.28▼ 1.4%GLDxGLDx$379.98▼ 0.4%GMExGMEx$25.33▲ 4.4%GOOGLxGOOGLx$342.55▲ 1.2%HOODxHOODx$112.83▼ 0.1%MCDxMCDx$232.50▲ 0.1%METAxMETAx$726.47▼ 0.2%MRNAMRNA$189.29▲ 0.3%MSFTxMSFTx$516.27▲ 0.1%MSTRMSTR$160.94▼ 1.4%MSTRxMSTRx$161.50▼ 0.7%MUMU$1,068.01▼ 1.9%NKENKE$33.85▲ 6.1%PLTRxPLTRx$188.44▼ 1.4%QQQxQQQx$749.77▲ 0.8%SNDKSNDK$1,720.43▼ 3.9%SOLSOL$118.90▼ 0.9%SPCXSPCX$158.82▲ 6.5%SPYxSPYx$770.53▲ 0.7%TSLAxTSLAx$370.57▲ 4.2%

Economics

Graduation

A fixed USD target converted into the stock, migration to a DAMM v2 pool, and liquidity locked forever.

The target

A coin graduates when its curve has collected $10,000 worth of the quote stock. The target is denominated in USD so that a NVDAx-paired coin and a GMEx-paired coin need the same purchasing power to graduate, even though one share of each is worth very different amounts.

Meteora configs store the threshold in raw token units, so the conversion happens when a config is created:

threshold_raw = $10,000 / (USD per share × UI multiplier) × 10^decimals

The token page shows progress as a percentage and as shares raised versus shares needed.

Config versions

Stock prices move, so a threshold fixed in shares drifts away from $10,000 over time. owned checks every config hourly and, when the drift exceeds 15%, creates a new version of that stock's configs with a fresh threshold. New launches use the latest version; existing coins keep the config they launched on, because Meteora configs cannot be edited. Each coin's config version is listed on its Info tab.

What migration does

  1. When the curve completes, trading on it stops.
  2. Meteora runs keepers that migrate completed curves automatically; owned also runs a crank for the same instructions, so migration happens within about a minute either way. Anyone may trigger it.
  3. The quote raised and the reserved base supply move into a new DAMM v2 pool with the same stock as quote. Meteora applies a fixed 0.2% protocol liquidity migration fee to the amounts entering the pool.
  4. The liquidity is represented by a position NFT that is permanently locked: it can never withdraw the liquidity, but it keeps earning the pool's fees. In Holders mode the own treasury owns it; in Creator mode the creator does.
  5. Any leftover base tokens from the fixed supply are sent to the treasury and burned.

After graduation

  • The 1% fee continues on the DAMM v2 pool, collected in the stock, split 20% to Meteora and 80% to the locked position.
  • Jupiter routes DAMM v2 pools, so the coin becomes tradable from any aggregator; the owned trade panel keeps working with SOL, USDC or the stock.
  • The token page switches its chart and trades to the new pool and shows the pool address.

Why permanent locks

A locked position cannot be pulled, so there is no "rug" at graduation: the stock raised on the curve stays in the pool as long as the pool exists. The only thing the owner of the position can do is claim fees.