King of the Pool
The largest buy of each round wins a prize from a pot arb recapture fills: who can take the crown, how a round closes and where the pot goes.
On this page
A creator turns King of the Pool on at launch, and the pool keeps its settings for good.
What it needs
- Arb recapture on the pool. King of the Pool runs inside it, so it opens when arb recapture opens.
- LP Rewards or Auto Burn, except on whole-pot pools, where the prize is the whole pot and needs neither. The prize ceiling is taken from Hookr's share of those two blocks, so a standard pool with neither has no room for a prize and the launch is refused.
Settings
| Setting | Range | Default |
|---|---|---|
| Pot share of each arb recapture, after the partner's and Hookr's cuts | Up to 50% | 25% once on |
| Round length | 1 hour to 30 days | 1 day |
| Pot released to LPs after each round | 25% to 100% | 50% |
| Prize ceiling, as a share of the winning buy | From 0.01% up to the pool's bound | The bound |
| Least buy that counts, in the pool's quote | Any amount above zero | 0.01 ETH, 0.01 WETH, 25 USDG, 1,000 HOOKR, and 0.1% of the pool's quote depth on any other quote |
The prize ceiling
The bound is 50% of Hookr's share of LP Rewards plus its share of Auto Burn, in basis points of a buy, each rounded down. On a pool with an integrator it is taken on the share Hookr keeps after the integrator's rate.
| Pool | Ceiling |
|---|---|
| LP Rewards 4%, Hookr's share 25% | 0.5% of the winning buy |
| The same, with an integrator at 50% | 0.25% of the winning buy |
So a prize is at most 50% of the Hookr fee its own winning buy paid, and a buy made only to take the crown loses at least the rest of that fee. Hookr's share of a dynamic fee or of Anti-Snipe on the winning buy does not raise the ceiling.
Who takes the crown
Each round's king is the payer of the largest buy of at least the least buy. A buy counts its gross spend, the quote paid plus fees, and a partial fill counts only what it spent. To take the crown a buy must be larger than the king's, and a bigger buy by the king raises its own lead.
| Buy through | Who holds the crown and the prize |
|---|---|
| Hookr's router | The wallet that called it |
| A signed swap relayed through Hookr's forwarder | The signer |
| Uniswap's Universal Router at the address the release pins | The account the router names as its sender |
| A Multi-pool trade through the family router | The trader the router vouches for |
| A contract that sends the buy, such as an aggregator or a vault | The contract, which moves the prize with claimTo or claimAsClaims |
| Hookr's Limit Orders book filling an order | The book, whose prizes go to Hookr, since it cannot tell which order earned them. On a hook that admits the book as a gate, the order's owner |
A buy from any other router never leads, because the hook cannot tell who paid. Neither do the arb recapture executor's own legs or the legs it trades through a launch's other pools.
In one transaction
- A buy in a transaction that already sold on the pool cannot lead.
- A buy whose path crosses liquidity added earlier in the same transaction cannot lead once that liquidity is more than 0.1% of the pool's active liquidity. Past 8 positions changed in one transaction, no later buy in it leads.
- A sell on the pool later in the same transaction, by anyone, cancels a lead taken earlier in it, and the crown goes back to whoever held it when the transaction began.
A king who sells in a later transaction keeps the crown. The Pool of Kings marks kings who sold or moved their tokens.
Closing a round
There is no keeper. The first swap or arb recapture after a round ends closes it, a limit order fill included, and anyone can close it with settleEpoch. A quiet pool's round can sit past its end until someone trades or closes it.
- At the close the king is credited the smaller of the pot and its buy times the ceiling, or the whole pot on a whole-pot pool, in the pool's quote.
- A prize is credited, not paid: the king claims it with everything else it is owed in that quote, or as PoolManager claims with
claimAsClaimswhen the quote no longer transfers exact amounts. - A round with no king credits nothing, and a king crowned with an empty pot is crowned with a prize of 0.
- The swap that closes a round counts in the next one, so a closing buy can lead the new round.
- Rounds that ended without a trade close together. Only the first of them can have a king, and each releases its share of the pot.
The pot
Only arb recapture pays into the pot, from the pool's share after the partner's and Hookr's cuts, and only when it pays in the pool's quote. A payout in another currency adds nothing to it.
After each round closes, the release share of what the pot carries goes to LPs: donated gradually to the liquidity in range, or, when none is in range, credited to the pool's liquidity owner. On a pool launched through Hookr that owner is the launcher, which holds the launch position: the launch's owner moves the credit with the launcher's claimRecapture, every withdraw or fee collection moves it too, and on a locked launch the beneficiary moves it with the lock's claimRecapture. From 256 rounds closed at once, all of it goes. A round with no king still releases.
Whole-pot pools
Some pools run a whole-pot core, a second HookrRules deployed beside the release's own. Of each arb recapture's profit the partner keeps up to 25% and Hookr takes 25%, and the pot takes all the rest, 50% at the partner's full share, so traders and LPs take none of it. On these pools the round's winner takes the whole pot, with no prize ceiling and no LP Rewards or Auto Burn needed. LPs earn the pool's base fee, and a round with no king releases the pool's release share of the pot to its liquidity: 25% on WTH/HOOKR, where the partner takes 25%, Hookr 25% and the pot 50% of every arb profit.
WTH/HOOKR has a 0.1% base fee, one-day rounds and a minimum buy of 0.01 WTH.
- WTH/HOOKR, pool
0x8860f370c1aad243a12815d0e9eb1bdbb2d40504d86590b708fdf11b296069cb - Whole-pot core (HookrRules)
0x10f684361b35c8411a2c07f68a6fb1f4b7e555f7 - Their module (HookrRecapture)
0x60efc4a41498e9433be2155b6cc1677aec31d649 - Rounds, kings and pots: the Pool of Kings.
Referral rebates
A referral campaign hands back part of the Hookr fee a trader paid, so on a King of the Pool pool every campaign together pays a trader at most 50% of the Hookr fee on a buy, instead of 99.99%. A prize and a rebate together then never reach the fee the crown cost. Campaigns on the creator royalty keep the usual cap. See Referrals.
The cap keeps washing the crown from paying. It does not stop a creator who owns all of a pool's liquidity from outbidding an honest king by the least amount, taking a rebate at the cap through a second wallet and denying that king's prize for close to nothing. The cap also cannot see a second referral contract or cash from Programs.
When arb recapture is paused
If arb recapture stops, the pot stops growing. Rounds still close and pay from what the pot holds. Nothing stops claims, exits or closing a round.