Uniswap Unleashes Dynamic Fees for Stable Pairs

Uniswap Labs has introduced StablePair Hook, a dynamic-fee mechanism for stable pairs on Uniswap v4. The feature went live on September 10 with two pools on Ethereum mainnet: USDC/USDG and USDC/USDT.

The hook targets the busiest corner of decentralized finance, where stablecoin-to-stablecoin swaps reached $43.4 billion in the second quarter, exceeding the next three onchain venues combined.

StablePair Hook replaces static fees with a dynamic-fee design that measures how far a pool has drifted from a reference rate and adjusts on every swap. Inside a tight band, the fee moves to quote a fixed bid-ask spread; once the price drifts outside it, swaps that push it further away pay no fee.

The hook is governance-controlled and built to evolve over time, allowing pool parameters and fee logic to be upgraded through Uniswap Governance without forcing liquidity providers to migrate.