Locked LP Tokens

LP tokens created during bonding curve graduation are program-locked in a Genesis-owned bucket. No wallet can withdraw them.

Summary

When a Genesis bonding curve sells out and graduates into a Raydium CPMM pool, the resulting LP tokens are transferred to a PDA owned by the Genesis program. The vesting schedule on this bucket is set to Never, making the tokens inaccessible.

• LP tokens are not burned — they are transferred to a Genesis bucket signer PDA with vesting set to never
• Program-locked — the lpLockSchedule.startCondition and cliffCondition are both Never, so no instruction or authority can release them
• Verifiable onchain — fetch the RaydiumCpmmBucketV2 account to confirm the lock schedule and token balance
• Happens automatically — locking occurs as part of the graduation process with no manual step

How LP Token Locking Works

During graduation, LP tokens are deposited into an ATA owned by a bucket signer PDA — a program-derived address with no private key. The RaydiumCpmmBucketV2 account locks them by setting both lpLockSchedule.startCondition and cliffCondition to { __kind: 'Never' }, preventing any withdrawal.

Graduation Flow

1. Bonding curve sells out (baseTokenBalance reaches zero)
2. Graduation fires automatically — accumulated SOL and tokens migrate to a Raydium CPMM pool
3. Raydium returns LP tokens to the Genesis program
4. LP tokens are deposited into the bucket signer's ATA
5. The lpLockSchedule.startCondition and cliffCondition are set to Never — program-locking the LP tokens

Verifying the LP Token Lock

Fetch the RaydiumCpmmBucketV2 account and inspect the lpLockSchedule extension to confirm that LP tokens are locked.

Deriving the Accounts

Three accounts form the LP token lock:

Fetching and Checking the Lock

1import {
2  genesis,
3  findRaydiumCpmmBucketV2Pda,
4  fetchRaydiumCpmmBucketV2,
5  findRaydiumBucketSignerPda,
6  findLpMintPda,
7  RAYDIUM_CP_SWAP_PROGRAM_ID_MAINNET,
8} from '@metaplex-foundation/genesis';
9import { publicKey } from '@metaplex-foundation/umi';
10import { createUmi } from '@metaplex-foundation/umi-bundle-defaults';
11import { findAssociatedTokenPda } from '@metaplex-foundation/mpl-toolbox';
12
13const umi = createUmi('https://api.mainnet-beta.solana.com').use(genesis());
14
15const genesisAccount = publicKey('YOUR_GENESIS_ACCOUNT_PUBKEY');
16
17// 1. Derive the Raydium bucket PDA
18const [raydiumBucketPda] = findRaydiumCpmmBucketV2Pda(umi, {
19  genesisAccount,
20  bucketIndex: 0,
21});
22
23// 2. Fetch the bucket account
24const raydiumBucket = await fetchRaydiumCpmmBucketV2(umi, raydiumBucketPda);
25
26// 3. Check the LP lock schedule
27const lpLockSchedule = raydiumBucket.extensions.lpLockSchedule;
28
29if (lpLockSchedule.__option === 'Some') {
30  const schedule = lpLockSchedule.value;
31  console.log('LP lock start condition:', schedule.startCondition.__kind);
32  console.log('LP lock cliff condition:', schedule.cliffCondition.__kind);
33  // Expected output: both "Never"
34}
35
36console.log('LP token balance:', raydiumBucket.lpTokenBalance);
37
38// 4. Derive the bucket signer PDA
39const [bucketSignerPda] = findRaydiumBucketSignerPda(umi, {
40  bucket: raydiumBucketPda,
41});
42
43console.log('Bucket signer (LP token owner):', bucketSignerPda);
44
45// 5. Derive the LP mint from the pool state
46const [lpMint] = findLpMintPda(umi, RAYDIUM_CP_SWAP_PROGRAM_ID_MAINNET, raydiumBucket.poolState);
47
48// 6. Derive the bucket signer's ATA for the LP mint
49const [bucketSignerAta] = findAssociatedTokenPda(umi, {
50  mint: lpMint,
51  owner: bucketSignerPda,
52});
53
54console.log('LP mint:', lpMint);
55console.log('Bucket signer ATA (holds LP tokens):', bucketSignerAta);

Expected Output

When LP tokens are program-locked, the output confirms:

LP lock start condition: Never
LP lock cliff condition: Never
LP token balance: 123456789
Bucket signer (LP token owner): <PDA address>
LP mint: <LP mint address>
Bucket signer ATA (holds LP tokens): <ATA address>

The startCondition.__kind value of Never confirms that no vesting begins, and the cliffCondition of Never confirms there is no cliff release. Together they prove the LP tokens cannot be withdrawn.

RaydiumCpmmBucketV2 Account Fields

Key fields on the RaydiumCpmmBucketV2 account relevant to LP token locking:

ClaimSchedule Fields

The lpLockSchedule extension is a ClaimSchedule with these fields:

FAQ

Are LP tokens burned or locked during graduation?

LP tokens are program-locked, not burned. They are transferred to an associated token account owned by a Genesis bucket signer PDA. The bucket's lpLockSchedule has both its startCondition and cliffCondition set to Never, meaning no wallet can claim them.

Can anyone withdraw the locked LP tokens?

No. The lpLockSchedule on the RaydiumCpmmBucketV2 account has both its startCondition and cliffCondition set to Never. There is no instruction or authority that can release them.

How can I verify that LP tokens are locked onchain?

Fetch the RaydiumCpmmBucketV2 account using the Genesis SDK and check that extensions.lpLockSchedule has both startCondition.__kind and cliffCondition.__kind set to Never. The lpTokenBalance field shows the exact number of LP tokens held. See Verifying the LP Token Lock for the full code example.

What is the difference between burning LP tokens and program-locking them?

Burning destroys tokens via an SPL token burn instruction, permanently removing them from circulation. Program-locking transfers them to a PDA with vesting set to Never — the tokens still exist onchain and can be verified, but no wallet can withdraw them. Both approaches make the liquidity permanent.

Glossary