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Token Lifecycle State Machine

  • CREATED and BONDING cover launch and fundraising on the bonding curve.
  • GRADUATED exits bonding-curve trading and transitions into the waiting pool.
  • WAITING_FOR_START and INTERMISSION are explicit no-transfer/no-trading windows.
  • ACTIVE is the only matchday window where tournament token trading and forecasting are open.
  • ELIMINATED and FINISHED flow into POST for closure and reward handling.