01Adaptive model
0.18%Overnight response
Built for closed-market hours
Tokenized stocks keep trading when the underlying exchange is closed.
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LIVE MARKETS · ADAPTIVE MODELILLUSTRATIVE MODEL
TOKENIZED EQUITIES · ADAPTIVE LIQUIDITYThe liquidity layer for tokenized stocks.
Fees that adapt to market hours.
Vellum adjusts pool fees for 24/7 tokenized-stock trading based on market hours, volatility and price divergence—instead of using one flat fee all day.
Built on Uniswap v4 hooks. Self-custodial by design.
MARKET OVERVIEWDEMO SNAPSHOT
Markets10Active pool set
Total liquidity$10.6MAcross all markets
24H volume$3.5MRolling activity
ADAPTIVE FEE ENGINE FOR TOKENIZED EQUITIESThe fee changes with the market state.
ILLUSTRATIVE MODELCurrent swap fee0.07%Latest market snapshot
00:0006:0012:0018:00NOW
SessionRegular
VolatilityLow
Price divergence0.08%
HOOK SANDBOXILLUSTRATIVE MODEL
See the fee curve adapt.
Adjust market volatility to see how a bounded fee response changes while the autonomous floor stays intact.
Resolved fee response0.205%Bounded between floor and ceiling
01 · MARKET HOURSCalendar-awareSession floors shift as markets open and close.
02 · VOLATILITYResponsiveThe curve expands as the activity signal rises.
03 · PRICE DIVERGENCEBoundedDirectional pressure remains inside configured limits.
02Active range
Current price $176.22
Fees reflect market conditions
Volatility and price divergence move the fee within configured bounds.
03Market framework
ETHETFRWACMD
CryptoETFsCommoditiesMore soon
Resolved before execution
The Hook returns the fee used by the swap.
CURATED LIQUIDITY
View all markets Featured markets
PoolTypeTVL24H VolumePool APRCurrent FeeFee State
FEE RESOLUTION
How the market adapts
Each fee is resolved from observable session context and bounded signals. The contract state at execution is final.
- Autonomous modelCalendar or flat-base logic establishes the fee floor.
- Bounded keeper signalAn expiring override can respond to price divergence.
- Fee at executionThe latest fee is resolved against current market conditions.
Built on Uniswap v4 hooks.