> For the complete documentation index, see [llms.txt](https://onchain-cc.gitbook.io/onchain-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://onchain-cc.gitbook.io/onchain-docs/degen/how-to-buy.md). # How to Buy a Pre-Graduated Token Buying a pre-grad on Degen takes under a minute once your wallet is connected and funded with SOL. This page walks the flow step-by-step. \[SCREENSHOT: Degen buy panel with a pre-graduated token, bonding-curve progress bar, and amount field] *** ## Before You Start * You need a connected Solana wallet (Phantom, Solflare, Backpack) or an EVM wallet with the Solana sign-in flow handled by Privy. * You need **SOL** on Solana — both for the trade and for gas. Keep at least 0.05 SOL in reserve for gas. * You need to have identified a token. Most users come in via the [Degen Feed (Trenches)](/onchain-docs/discover/degen-feed.md) or by pasting a contract address. *** ## Steps ### 1. Open the Degen Tab Click the **Degen** tab at the top of the onchain.cc terminal. This loads the Degen surface, separate from Swap and Perps. ### 2. Select a Token You have two options: * **Browse from Trenches** — click any token card in the [Degen Feed](/onchain-docs/discover/degen-feed.md) to open it directly in Degen. * **Paste a contract address (CA)** — paste a pump.fun token's CA into the search bar. Degen will detect that the token is pre-graduated and load the bonding-curve interface. If a token has already graduated, Degen will tell you and route you to [Swap](/onchain-docs/swap/terminal-overview.md) for the post-grad trade flow. ### 3. Read the Token Panel The Degen panel shows everything you need to evaluate the trade: * **Bonding-curve progress** — a bar showing how far along the curve the token is (e.g. "73% of the way to graduation"). * **Current price** and **market cap**. * **Liquidity behind the curve** — how much SOL is currently held by the bonding curve. Larger = more depth = less slippage on your size. * **Holder count** and **buy/sell ratio** in the last hour. * **Time since launch** and recent volume. > **Warning:** Pump.fun tokens carry high rug-pull and abandonment risk. Even with healthy onchain signals, most pre-grads never graduate. Verify the contract address, check holder concentration, and only deploy capital you are willing to lose entirely. ### 4. Enter Your Buy Amount Enter how much **SOL** you want to spend. Degen will quote: * The estimated tokens you'll receive * The implied price after this trade lands (price impact) * The new bonding-curve position after the buy The price impact is generally larger than on a normal DEX swap — see [Pump.fun Bonding Curves](/onchain-docs/degen/bonding-curves.md) for why. ### 5. Set Slippage Tolerance Degen lets you set a slippage tolerance for the trade. * **Default:** 5% * **Active launch / fast mover:** 10–15% * **Calm token, deep liquidity:** can go lower, e.g. 2–3% If price moves more than your tolerance between submission and inclusion, the trade reverts (you keep your SOL minus gas). > **Info:** Setting slippage very high (e.g. 30%+) makes you a sandwich target. Only push it up if you accept getting worse fills as the cost of getting any fill at all. ### 6. Review the Order Before confirming, check: * **Spend amount** in SOL * **Estimated output** in tokens * **Price impact** percentage * **Slippage tolerance** * **Platform fee** — your rank-based fee (0.15% at Recruit, 0.10% at Immortal). See [Rank System](/onchain-docs/colosseum/ranks.md). ### 7. Confirm and Sign Click **Buy**. Your wallet (or the Privy embedded wallet) will prompt you to sign the transaction. Approve. The transaction is submitted directly to the pump.fun bonding-curve contract on Solana. Once confirmed, the tokens land in your wallet and appear in [Portfolio View](/onchain-docs/portfolio/portfolio-view.md). \[SCREENSHOT: Confirmation screen showing the executed trade with transaction hash] *** ## Selling a Pre-Graduate The flow is symmetric: open the token in Degen, switch to **Sell**, choose how much you want to offload (or use the 25% / 50% / 75% / 100% quick-sell buttons), set slippage, and confirm. Selling pushes the bonding curve back down by exactly as much as your buy pushed it up — see [Pump.fun Bonding Curves](/onchain-docs/degen/bonding-curves.md) for why. > **Info:** If a token is illiquid or holders are exiting in size, sell impact can be large. Consider selling in smaller tranches if you're trying to exit a meaningful position. *** ## After Graduation If the token you hold **graduates** while you're holding it, your position transitions automatically: * The token starts trading on Raydium and other Solana DEXes. * Future buys and sells go through [Swap](/onchain-docs/swap/terminal-overview.md) (Carbium routes the order across the post-grad liquidity). * Your existing holdings are unaffected — the tokens in your wallet are the same; only the venue for trading them changes. There is no action required from you at graduation. 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