RIFT
The fee that prices
the gap between books.
A Uniswap v4 hook for tokenized equities on Base. One share, quoted in more than one place, drifting apart all day. RIFT charges the trade that closes the gap and hands the premium to the liquidity providers who carried it.
One share. Two prices.
The same tokenized share trades in more than one book. Each has its own liquidity, its own flow, its own last trade. Between arbitrages they drift, by a few basis points, continuously.
That drift is not noise. It is a profit, and today it goes entirely to whoever arbitrages it, funded by the liquidity providers who were quoting the stale side.
The closing trade pays.
Not the buyer. Not the seller. The arbitrageur, because that is the trade capturing the spread.
fee = baseFeewhen the trade widens the gap or leaves it alone
fee = baseFee + premiumwhen the trade closes it
Charging the ordinary buyer would be charging the wrong person. They did not create the gap and they are not collecting it.
All of it to the LPs.
The premium goes back through Uniswap's own fee accounting to the providers who were holding the mispriced quote. RIFT takes nothing.
There is no protocol fee in v1, no treasury address in the hook, and no code path that routes any part of the fee anywhere other than the pool.
What is bounded.
- A hard maximum in the bytecode. A constant, not a setting, checked when a market is configured and clamped again on every fee computation.
- The hook holds nothing. No balance, no withdraw, no custody. It answers callbacks and returns a number.
- A disabled market still trades. Switching RIFT off returns a zero override rather than reverting, so it can never take a pool down.
- No oracle, no keeper. Reference prices are read from the venues themselves, inside the swap. Nothing has to be posted and nobody has to be paid to keep it fresh.
Where this actually stands.
Tokenized equities are live on Base as native B20 assets. We read them on chain:
At the time of writing these trade in no pool at all. Not on Aerodrome, not on its concentrated factory at any tick spacing. So RIFT is not arriving to arbitrage an existing fragmentation. It is arriving before there is one, and that is the honest reason to build now rather than later.
Nothing is deployed. No hook address, no market, no token. The first real task is measurement: when a second book opens, record the deviation for long enough to know whether the premium is worth charging at all.
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