HookHook Capital Management
Prospectus for the HookHook reserve fund (HOOK)
HookHook Capital Management manages HOOK, a reserve share on Robinhood Chain whose distributions are paid for by trading and never by issuance. A fee hook on the HOOK/ETH pool takes 5.00% of every swap. The machine divides it: 80.00% to the Hookholder Distribution Program, which buys HOOK on the open market and credits it to stakers, and 20.00% to the treasury as USDG. Supply is fixed at 1,000,000,000 and nothing in the fund mints it.
The fund, briefly
Trading commenced on 2 September 2026 with the opening of the HOOK/ETH pool. The reserve was not seeded: it accrues from the trading fee and from nothing else, so NAV per share began at zero and has risen with every swap since. The current figure is read on chain and shown on the reports page, which is the disclosure of record.
The treasury keeps two buckets. The backing bucket, 20.00% of every funding, may be drawn only by redemptions and is what NAV per share is quoted from. The allocation bucket is deployed through the Liquidity Desk into Uniswap liquidity paired with HOOK, so that the success of other tokens on the chain becomes purchases of HOOK.
Glossary of fund terms
The fund is described in fund terms. Each names one protocol mechanism.
| fund term | protocol mechanism |
|---|---|
| the fund | HookHook Capital Management: the machine, the staking contract and the treasury contracts on Robinhood Chain, together with the terminal that reports them. |
| the share | HOOK. Fixed supply of 1,000,000,000. Nothing in the fund mints it. |
| the Manager | The team operating the fund. It runs settlement on schedule and selects the positions of the Liquidity Desk. |
| Hookholder Distribution Program | Staking. The staked balance is sHOOK. Each settlement credits stakers with the HOOK the machine bought on the open market, pro rata. |
| reserve fund value | The USDG held in both treasury contracts, in both buckets, plus the market value of the Liquidity Desk. |
| NAV per share | Backing per token: the backing bucket in USDG divided by circulating supply. Only redemptions draw on the backing bucket. |
| the trading fee | The fee taken by the fee hook inside every swap on the HOOK/ETH pool, buy and sell alike. |
| the machine | HookMachine. Claims the fee from the hook at settlement, buys HOOK for the distribution program with one leg and bridges the other into USDG for the treasury. |
| epoch | One cooldown of the machine, counted from the opening of the pool. Settlement is permissionless once the cooldown has elapsed. |
| settlement | A poke of the machine. Several may run in one epoch: the first claims and buys, the rest work down what the caps left in the legs. |
| the standing bid | The buyback program. Any holder may sell the share to the treasury at NAV per share less a spread, at any time. Everything bought is burned. |
| Liquidity Desk | Reserve positions: Uniswap v4 liquidity the allocation bucket holds, paired against HOOK, reported with value, range and result since open. |
Contents
- The fund (mechanism)the trading fee, the machine, settlement, the distribution program
- Trading fee schedulefee application and fee destination
- Treasury and NAVcomposition, NAV per share, the standing bid, reporting
- Liquidity deskreserve positions in Uniswap liquidity and their valuation
- Hookholder guidenetwork, subscription, the distribution program, redemption of stake
- Risk factorsthe risks of holding the share
- Official channelsthe only channels of the fund, and every contract
- Questionsthe short answers
Standing disclosures
No forward figure is published anywhere in the fund's materials. Every rate shown is trailing and realised, computed from settlements that have already occurred and labelled as such beside the figure. Distributions depend entirely on trading in the pool and can be nothing.
The terminal resolves the token, the pool and the fee hook from the machine itself and declines to report figures should they disagree with its record. Every address it shows links to the explorer.