endpoint-cp-v3. A factory creates one fixed-supply ERC-20 and one shifted constant-product curve per launch. The curve provides buy and sell liquidity until its exact terminal state is reached. At that point it atomically settles the reserved assets into a canonical full-range Uniswap V3 position owned by an ownerless per-token custodian.
The contracts do not promise that a token will reach graduation. Market participation determines whether the terminal condition is ever reached.
Curve fees and post-graduation LP fees use different accounting paths. See Fees.