UniswapUniswap has launched StablePair, a new hook that dynamically adjusts fees on stablecoin pairs to capture value that static fee structures typically leave to arbitrage bots. When a stable pair drifts off its reference rate, StablePair's fee scales with the drift and directs that value to LPs instead of bots. Swaps pushing the price further off pay no fee, while swaps correcting it run a Dutch auction where LPs capture the premium.
The hook is live on Ethereum mainnet, with initial pools for USDC/USDG and USDC/USDT. Pool parameters and fee logic are upgradeable through Uniswap governance, allowing pools to improve without migration. StablePair joins Uniswap Labs' open-source hook library alongside DualPool, Permissioned Pools, and LitePSM. The team noted that most of what v4 hooks can enable still hasn't been built, positioning this as an early step for the broader hook ecosystem. The code repository is available to fork, and LPs can provide liquidity now via the Uniswap Web App.