Liquidity and LP
Where are the funds held?
SOL is held by the program-owned market account. Tokens sit in a Token-2022 vault controlled by the market’s program-derived address. Traders do not deposit funds into a platform wallet before trading.
The market accounts separately for trading SOL, accrued fees, and account rent. Before and after a trade, the program checks that the account holds enough lamports to back all three. Virtual reserves are excluded from that backing.
Are LP tokens burned or locked?
There are no LP tokens in the current pool. It has no liquidity-share mint, add-liquidity instruction, or remove-liquidity instruction. The 206.9 million reserved tokens and collected SOL simply become the real reserves used by swaps after graduation.
Calling this “burned LP” or a third-party liquidity lock would be inaccurate. Graduation does not send the pool to Printr, Meteora, PumpSwap, or another DEX.
Can the creator or platform remove liquidity?
The current program gives neither the creator nor the platform a reserve-withdrawal instruction. The platform can claim only accrued trading fees, and the claim preserves both the trading reserve and rent reserve.
Program upgrades are a separate trust boundary. While an upgrade authority exists, code can be changed. The current absence of a withdrawal instruction is not an irrevocable liquidity lock.
Can liquidity be added on another DEX?
After open graduation, holders can transfer their tokens and may create an independent pool on a compatible DEX using their own assets. This does not transfer or unlock Bundless’s existing reserve principal. External fees and routing support depend on that DEX.
If approval remains active, ordinary transfers into an unrelated pool are blocked. Such a pool cannot assume standard unrestricted Token-2022 behavior.