Uniswap launches StablePair Hook for stablecoin pools

Uniswap Labs announced on Sept. 10, 2026 the launch of StablePair Hook, a new dynamic-fee tool for Uniswap v4 designed to let liquidity providers capture more of the value generated in stablecoin trading. The first pools, pairing USDC with USDT and with Global Dollar (USDG), went live on Ethereum mainnet the same day, according to the project's public code repository. The mechanism replaces the static fee typical of stablecoin pools with a fee calculated for each swap based on how far the pool price has moved from its reference rate, set at 1:1 for the two dollar-pegged pairs. Inside a narrow band around that price, the hook adjusts fees to maintain a fixed spread between buying and selling prices. Once the pool price leaves the band, treatment depends on trade direction: a swap that pushes the price farther from parity pays no liquidity provider fee, because it gives the pool what Uniswap Labs describes as a favorable price. A corrective swap that brings the price back toward parity enters a Dutch auction, with a fee that starts high and declines with each Ethereum block until a trader accepts it.