Pool lifecycle

A Hookr pool is created once and never reconfigured. This page follows one pool from creation to steady state.

1. The Creator Picks a Configuration

The caller assembles a MarketParams: the quote currency, the tick spacing, the opening square-root price, the kernelId of the sealed root profile, the module selections, and the StackLimits. The native mechanics module is mandatory, so exactly one selection carries a HookrNativeMechanicsBlockV2.Config in its config field.

Two fields must agree across the two structures: limits.baseLpFeePips and the module config's baseFeePips. Admission rejects a mismatch.

2. Admission

HookrMarketCoordinatorV5 calls into HookrNativeMechanicsCoordinatorLibV2, which walks the selections and proves, for the one selection whose moduleKey is keccak256("HOOKR_NATIVE_MECHANICS"):

• The registered module version is exactly 2 and its config schema hash matches.
• Its execution mode is STATEFUL_V1, its phase mask covers all phases, and its on-chain code hash still equals the one the catalog registered.
• validateProtocolShare(config) returns true, which proves the share is within MAX_PROTOCOL_SHARE_BPS, that the config names the module's own immutable recipient, and that an ERC-20 quote's pot floor is at least one thousandth of a whole unit.
• The module's immutable recipient equals coordinator.treasuryBeneficiary().
• The config's share equals coordinator.protocolShareBps(creator), or the call reverts ProtocolShareTierMismatch.
• A guard window is requested only on the new-token lane, or the call reverts GuardRequiresLockedFoundingPosition.
• The guard end block is in the future and no more than MAX_GUARD_BLOCKS ahead.

Every one of these reads is gas-bounded. A target that reverts or returns a short word fails admission closed.

3. The Stack Is Frozen

HookrStackRegistryV2.createStack derives per-pool caps by calling validateStack on the module, checks them against the catalog's registration ceiling, and stores one StackCore for the PoolId. The record holds the kernel, the subject and quote, the stack hash, and the trusted router and quoter with their code hashes; alongside it the registry stores the frozen config hash of each module, which frozenModuleConfigHash(poolId, module) returns.

From here the pool's behaviour is fully determined. Nothing in the registry, the catalog, or the coordinator can change it.

4. The Pool Is Initialized

The coordinator initializes the v4 pool with fee = 0x800000 and hooks = the root hook. beforeInitialize accepts the call only from the coordinator, only once, and only when the PoolKey matches the frozen stack. It emits MarketInitialized and marks the stack initialized.

5. Liquidity

New-token lane. The coordinator places the entire fixed supply in one token-only band whose quote-side edge sits exactly on the opening price (the lower edge when the token sorts as currency0, the upper edge when it sorts as currency1). The coordinator owns that position and exposes no removal path. Any sub-unit quantization residue is burned.

Existing-asset lane. No liquidity is added. LPs mint their own positions through the v4 PositionManager.

6. The Optional Creator Buy

On the new-token lane only, the coordinator can execute one exact-input buy for the creator in the same transaction, after the band is seeded. It is available on every quote currency. It passes through the guard like any other buy, so it pays the snipe tax and respects maxBuyQuoteAmount, and the subject it delivers may not exceed MAX_INITIAL_BUY_SUBJECT, 5% of supply, measured after any burn.

7. Trading

Swaps arrive through the Universal Router, the Hookr router, the Hookr quoter in simulation, or any other v4 caller. See Swapping and quoting.

8. Fee Collection

Founding-position fees accumulate inside the PoolManager until someone calls collectLpFees(poolId), which is permissionless. Both currencies go to the creator's lpFeeRecipient.

Protocol shares accumulate in the module's claimable[quote][protocolRecipient] ledger until someone calls collect(quote) on the treasury forwarder, which is also permissionless.

Pot payouts and royalties land in the same claim ledger under the winner's or the royalty recipient's address, and they call claim(quote) or claimTo(quote, to) themselves.

What Ends

Nothing. A Hookr pool has no expiry, no migration, and no shutdown. The guard window closes at its configured block and every other rule runs for as long as the pool exists.