Uniswap Releases StablePair Hook, Three Hidden Flaws Revealed After Three Months of Technical Analysis:
It uses the difference between “cached price vs the governance-set reference price” to determine fees. When the market price deviates from the reference price, the fee is set to zero, and even de-anchoring can’t be corrected back;
LP holdings fluctuate with the spot price. If you hold 10,000 USDC and the price drops 10%, you lose $1,000. Even a dynamic fee rate can’t make up for the inventory losses;
And the reference price that determines the fee “center” is controlled by governance. The combined TVL of the two pools is only $8.7 million, compared with the v3 pools’ $34 million.
OpenZeppelin-reviewed but still the non-upgradeable version—the upgrade path itself is also hidden in the details.
It uses the difference between “cached price vs the governance-set reference price” to determine fees. When the market price deviates from the reference price, the fee is set to zero, and even de-anchoring can’t be corrected back;
LP holdings fluctuate with the spot price. If you hold 10,000 USDC and the price drops 10%, you lose $1,000. Even a dynamic fee rate can’t make up for the inventory losses;
And the reference price that determines the fee “center” is controlled by governance. The combined TVL of the two pools is only $8.7 million, compared with the v3 pools’ $34 million.
OpenZeppelin-reviewed but still the non-upgradeable version—the upgrade path itself is also hidden in the details.