Original source: 0xTodd
Recently, I deposited some money in Uniswap V4, so I seriously studied the hooks of Uni. Many people have privately told me that they did not feel the same sense of amazement when Uni launched V4 as they did when V3 went live. The main reason is that the concept of "hooks" itself is too abstract and needs to be directly held accountable.
Rather than being literally translated as "hooks," I personally think it would be better to interpret it as "plugins." Hooks are meant to add functionalities to the pool that go beyond what Uni itself offers. The documentation emphasizes at length when hooks can be called, but most people are not concerned about that; it would be better to explain what hooks can actually do.
【Examples of Hook Uses】
-- For example, it can allow your created pool, such as ETH-USDT, to be used only by certain specific addresses;
-- Or, it can enable your pool to charge higher fees during busy times and lower fees during idle times;
-- Furthermore, it can even allow your pool to operate without the X*Y=K curve (PS: probably inspired by Curve at that time).
In summary, you can freely develop various functionalities that you need, which Uni's official team may never release.
It's somewhat like the Creative Workshop on Steam, where the official team has stopped developing, allowing others to create freely.
Another change is that in the past, there were only two profitable niches on Uni: LPs and traders, and both were essentially taking from each other's pockets.
With V4, the introduction of hooks actually allows some script developers to also have profitable niches.
You can write a hook, and others can pay to use your hook when they create pools (selling… hooks?).
Each pool can use one hook plugin, but one set of hook plugins can be subscribed to by countless pools, resulting in very low marginal costs.
There is a website called Hook Rank that lists hundreds of hooks, showing how much money various hooks have earned. Currently, one of the most commonly used hooks, Flaunch, has reportedly earned over $1 million for its developer.
What does it do? With its hook, you can create a pool for meme coins and direct the pool's fees in any proportion, for example, 80% to your own wallet and 20% for buybacks.
Fortunately, when Trump’s son launched $Trump, he was unaware of this feature; otherwise, wouldn’t he direct all fees to future world finance?
Additionally, as the saying goes, only competitors understand you best. Later, Pancake also decisively introduced hooks, but they called it Pancake Infinity instead of V4. Of course, that’s another story for another time.
In summary, hooks are quite an interesting feature, deserving of the name V4.
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