HookRevenue Tokenizer

A revenue token is a fixed-supply ERC-20 with a fee right locked behind it. The fee right's income reaches the token, and each holder's share of it is released over the token's release period and can be claimed whenever the holder likes. Anything else sent to the token, in any asset, is split among the holders as a drop.

The HookRevenue Tokenizer makes revenue tokens. One call locks the fee right, deploys the token, mints the whole supply and, when asked, opens the token's own market. It has no owner, and everything it depends on is fixed when it is deployed.

The pieces

• The tokenizer makes revenue tokens and keeps a record of each one: who made it, which way in, its streams, its term and Hookr's leg.
• The revenue token holds the income ledger, one for each asset its income is paid in. It pulls its doors on sync, releases what arrives to its holders, and pays their claims. After the mint nothing about it can change.
• Doors hold the token's streams and pass their income to it, at most eight per token: a pool's Rules ledger (its royalty and Hook Block take), the door that holds the locked launch families (LP fees and arb recapture), a door holding Uniswap v4 or v3 positions, or a door holding an outside fee right (a pools.trade fee NFT, a Pons fee right or a Long fee right).
• The drop box, one per token, takes drops of any asset from anyone and shares them by the balances at the block before.
• The leg collector holds Hookr's leg of the tokens that have one and pays its income to the Hookr treasury.

One tokenization, in order

1. The tokenizer checks the terms: the supply, the recipients, the release period, the sync tip and the term.
2. It locks the fee right: it launches and locks the pools, moves the NFTs into a door, or checks the doors already pointed at the token.
3. It deploys the token with its assets: ETH and up to three more currencies its streams pay in.
4. It mints the supply: to your recipients, to Hookr's collector when the fee right is off the Hookr hook, and to the market's seed when a market opens.
5. It opens the market when asked: a revenue token / ETH pool on the Hookr hook, its LP locked so trading the token pays the token.
6. Everything left over goes back to you. The tokenizer holds nothing between calls.

The mint and the lock happen in the same transaction, so no share of a token exists before its fee right is locked behind it.

What you can do with it

• Sell days of income. Lock revenue tokens in time shares and sell days through day wrappers. The tokens come back after the last day, unless locked forever.
• Fixed splits. Share the supply at mint between a team, a DAO or grants. The split is fixed at the seal.
• Holder bonuses. Add a bonus in the token's own assets, or drop any token to all holders.
• Paid straight to the token. Point an x402 API or any payer at the token's address. ETH and its listed assets count as income at the next sync, and any other ERC-20 becomes a drop.
• Pair it elsewhere. Revenue tokens in a Uniswap v4 pool earn nothing, and most other pool contracts cannot claim. To keep income working, deposit in Compound, which adds it to the token's own pool.

Coming soon

• Income advance. Get part of a token's future income up front.
• Automations. Route income on a schedule, like a buyback.
• Borrow against revenue tokens. Use revenue tokens as collateral.

What a token never has

No owner, no admin, no pause, no upgrade, no second mint and no fee anyone can change later. Every sync, release and drop is open to anyone, and no keeper is needed for any of it.