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Learn / 101C · Dev & Supply / 07

101C / SECTION 7 OF 10

Liquidity and migration

What supports your sale, and who controls it?

Who controls the trading pool

A pool holds paired assets for trading. Its liquidity positions may give controllers rights to withdraw or change those assets. Check position ownership alongside creator balances. A withdrawal can worsen sale quotes even if the dev keeps its tokens.

What each lock covers

A token lock covers specified units. An LP lock covers a specified position, amount, and period. Pools may use LP tokens, position NFTs, or protocol-controlled arrangements. Read the actual mechanism before interpreting a lock or burn label.

How to investigate it

  1. Open Markets or Pools. Match both tokens and the pool address to the quote route.
  2. Open the pool in the protocol interface and explorer. Record reserves or active depth, type, and time.
  3. Find the position and controller. For a lock, check exact LP-token/position identity, coverage, expiry, and withdrawal/admin rights.
  4. Read the selected launch mode's migration rules. Verify completion transaction and destination address.
  5. Record sell quotes at several illustrative sizes: route, units, expected proceeds, fees, impact, and time. Compare the same paired asset. Requesting a quote does not require submitting a trade.
CheckWhere to lookSave this
Pool identityMarkets/Pools and quote routePair, address, protocol
Liquidity controlLP-token or position recordController, lock coverage, expiry
MigrationLaunch record and completion transactionSource, destination, completion time
Sale sizeQuote previewUnits, proceeds, fees, impact, route, time

What changes at migration?

Trading moves to a new venue or mechanism. Check destination trading, depth, and buyer activity. Existing holders may sell around the event. Near-complete curve progress still needs a completion check.

Practical case — illustrative

At 09:30 UTC on Day 1, SAMPLE trades in its confirmed destination pool. The example lock covers the main liquidity position for 30 days. A secondary pool has different rights; record it separately.

Illustrative destination quotes show 1% impact for 100,000 units and 18% for 5m. These teaching figures show why order size matters; use actual provider quotes for a real investigation.

Keep this record

Save the pool/controller record and quote table. Set a reminder before lock expiry. Mark any unverified position rights as unresolved.

Add these findings to your review worksheet →

Check your understanding — answered

Team tokens locked: what next? Check the liquidity controller and withdrawal rights.

Migration completed: did demand improve? Compare activity and depth before and after with consistent coverage.

Main pool protected: does that cover my route? Check every pool used by the quote.

Mechanism references

Solscan: markets and pool information ↗

Raydium: liquidity positions and farms ↗

SAMPLE is made up for this course. Date each finding. For a real token, use current transaction records and platform rules. Inspect shows sampled trades; use external records to check ownership and permissions.