Retail investors doing stablecoin LP have been working for free for arbitrage bots for years. In 2023, I put $200K into a USDC/USDT pool on Uniswap V3, and after a year, I only earned $1,400 in fees. As soon as there’s a price spread, bots instantly eat it all up. I’m just standing on the sidelines collecting crumbs, thinking I’m making passive income. On September 10, Uniswap launched the StablePair Hook, directly targeting Curve’s stablecoin territory. 1. Fees are divided into three tiers and follow a Dutch auction model. When a price spread first appears, the fee is at its highest. Bots trying to grab the first bite have to pay more, and that money goes straight into LP pockets. All those fees I gave away for free back then? If it were now, I could’ve gotten a chunk back. 2. There’s also the DualPool Hook, which lets idle funds in the pool earn lending interest when there’s no trading activity. Spark has already moved $150M into it, so you’re earning both fees and interest. LPs still sticking to Curve and farming CRV are just working for free for the bots as usual.