Hook was born in Uniswap, surpassing Uniswap.

Written by: 0xTodd

Recently, I deposited some money in Uniswap V4, so I seriously studied Uni's hook. Many people have privately told me that after Uni launched V4, they did not feel the same sense of amazement as when V3 was launched. The main reason is that the concept of "hook" itself is too abstract, and it directly takes the blame.

Rather than being directly translated as "hook," I personally believe it would be better to interpret it as a "plugin." The hook itself adds some functionalities to the pool that go beyond Uni itself. Its documentation emphasizes at length when the hook can be called, but most people do not care about that; it would be better to discuss what the hook can actually do.

【Examples of Hook's Uses】

• For example, it can allow the pool you create, such as ETH-USDT, to be used only by certain specific addresses;

• Or, it can allow your pool to charge higher fees during busy times and lower fees during idle times;

• Furthermore, it can even allow your pool to operate without the X*Y=K curve (PS: probably inspired by Curve at the time).

In summary, you can freely develop various functionalities that you need, which Uni's official team may never release.

It's somewhat like the Creative Workshop on Steam, where the official team has stopped making things, allowing others to create freely.

Another change is that in the past, there were only two profitable niches on Uni: LPs and traders, and both were essentially taking from each other's pockets. After V4, with the introduction of hooks, it actually allows some script developers to also have profitable positions.

You write a hook, and others can pay to use your hook when they create pools (selling… hooks?). Each pool can use one hook plugin, but one set of hook plugins can be subscribed to by countless pools, with a very low marginal cost. There is a website called Hook Rank that lists hundreds of hooks, showing how much money various hooks have earned. Currently, one of the most commonly used hooks, Flaunch, has reportedly earned its developer over $1 million.

What does it do? With its hook, you can create a pool for meme coins and direct a certain percentage of the pool's fees, for example, 80%, to your own wallet, while 20% is used for buybacks.

Fortunately, when Trump’s son launched $Trump, he didn’t know about this feature; otherwise, wouldn’t he have directed all fees to future world finance?

Additionally, as the saying goes, only competitors understand you best. Later, Pancake also decisively introduced hooks, but instead of calling it V4, they named it Pancake Infinity. Of course, that’s another story for another time. In summary, hooks are quite an interesting thing, deserving of the name V4.

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