Uniswap has been earning since the summer on fees that until then went entirely to liquidity providers. Since October 22 this mechanism also applies where Uniswap does not supply the liquidity at all: the so-called aggregator hooks route swaps from the web app through seven outside venues, and these routes also pay a protocol fee that flows into the buyback and burn of UNI. The Uniswap price stood at $7.00 shortly after 8 a.m. German time on Thursday morning, around 1.8 percent below the previous day and 1.8 percent below the previous week (CoinGecko).
What aggregator hooks are and how they route swaps through outside pools
In Uniswap v4 a hook is a small add-on program that attaches to a liquidity pool and intervenes in the course of a swap, either before or after trading takes place. Aggregator hooks use that point not only to search Uniswap's own pools but also to obtain quotes from other venues and to combine both in a single transaction.
For you as a user, little changes on the surface. You enter a swap, the app calculates in the background which route delivers the best price, and executes it. What is new is that this rout...
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