Open an existing-asset market

Introduction

An existing-asset market opens a fresh Uniswap v4 pool for a token that already exists, under the Hookr root hook. The coordinator initializes the pool and stops there: no liquidity, no position, no creator buy, no guard window.

Anyone can call it while market opening is not paused (MarketOpeningPaused otherwise; the owner can always open). It is one transaction and it commits the pool's rules forever.

What This Lane Cannot Do

The guard window is rejected. requiresLockedFoundingPosition returns true for any config with a non-zero guardEndBlock, and admission reverts GuardRequiresLockedFoundingPosition on this origin. The guard's liquidity lock only means something when the coordinator holds the only position, and here it holds none.

lpFeeRecipient, subjectAmount and quoteAmount must all be zero. There is no founding position for fees to route to, so collectLpFees reverts NoFoundingPosition on this lane.

There is no creator buy. Buy through the router afterwards like anyone else.

Pick a Base Fee Tier

On this lane you choose the base fee. Presets that match what traders expect from Uniswap:

Any value works as long as baseLpFeePips + surge headroom + snipe tax stays inside MAX_TOTAL_FEE_PIPS (50%), and as long as limits.maxLpFeePips covers the base fee plus the surge cap. Set the same number in both limits.baseLpFeePips and the module config's baseFeePips; admission rejects a mismatch.

Build the Config

HookrNativeMechanicsBlockV2.Config memory cfg = HookrNativeMechanicsBlockV2.Config({
    poolId:                  poolId,
    kernel:                  rootHook,
    subject:                 existingToken,
    quote:                   usdg,
    lockedLiquidityProvider: address(0),   // guard off
    guardEndBlock:           0,            // guard off
    baseFeePips:             3000,
    maxFeePips:              10000,
    snipeTaxPips:            0,            // must be zero when the guard is off
    surgeSens:               2,
    burnBps:                 0,
    lpBps:                   100,          // 1% of buy size
    potBps:                  0,
    royaltyBps:              0,
    potEveryNBuys:           0,
    maxBuyQuoteAmount:       0,            // must be zero when the guard is off
    potMinBuyWei:            0,
    royaltyTo:               address(0),   // must be zero when royaltyBps is zero
    protocolRecipient:       treasuryForwarder,
    protocolShareBps:        coordinator.protocolShareBps(msg.sender)
});

With the guard off, lockedLiquidityProvider, snipeTaxPips and maxBuyQuoteAmount must all be zero. The validator rejects any other combination rather than ignoring the stray fields.

Send It

PoolId poolId = coordinator.openExistingTokenMarket(
    ExistingTokenArgs({ subject: existingToken, market: market })
);

msg.value must be zero for an ERC-20 quote, and market.quoteAmount is zero on this lane, so it is zero for a native quote too.

The pool opens with no liquidity. It is tradeable the moment someone mints a position.

Before You Open One

Opening a pool for a token you do not control commits that token's holders to rules you chose. Four things to check.

The subject must permit a transfer to 0x…dEaD if you enable the burn. A pausable token, a blocklist, or a transfer hook that rejects it makes every buy revert and the pool fails closed. Test one buy on a fork before you launch.

A tokenized stock brings a shared pause registry with it. A pause of that token halts your pool. That is fail-closed rather than mispriced, but it is not something you control.

Burning a stock destroys a claim on a real share, and burning a stablecoin destroys a dollar. Both are permitted by the contract. Both are almost always wrong.

market.creator records who opened the pool and nothing else. No ownership check is performed on the subject token. Never present that field as ownership or as the token team's endorsement.

Next Steps

Read Providing liquidity to mint the first position.