Rehype Pools

Create Multicurve pools with RehypeDopplerHook for advanced fee distribution and buyback mechanisms

Rehype Pools use the RehypeDopplerHook to distribute trading fees across beneficiaries, LPs, and buyback destinations.

Fee distribution model

Fees are split into four categories (must sum to 100%):

Category	Description
Asset Buyback	Buy back the token
Numeraire Buyback	Buy back the quote token
Beneficiary	Stream to configured addresses
LP	Distribute to liquidity providers

---

Basic example

import { DopplerSDK, getAddresses } from '@whetstone-research/doppler-sdk';
import { parseEther, createPublicClient, createWalletClient, http } from 'viem';
import { privateKeyToAccount } from 'viem/accounts';
import { base } from 'viem/chains';

const privateKey = process.env.PRIVATE_KEY as `0x${string}`;
const rpcUrl = process.env.RPC_URL ?? 'https://mainnet.base.org';

async function main() {
  const account = privateKeyToAccount(privateKey);
  const addresses = getAddresses(base.id);

  const publicClient = createPublicClient({
    chain: base,
    transport: http(rpcUrl),
  });

  const walletClient = createWalletClient({
    chain: base,
    transport: http(rpcUrl),
    account,
  });

  const sdk = new DopplerSDK({
    publicClient,
    walletClient,
    chainId: base.id,
  });

  // Get protocol owner for beneficiary requirement (min 5%)
  const protocolOwner = await sdk.getAirlockBeneficiary();

  // Beneficiaries receive the beneficiaryPercentWad portion of fees
  const beneficiaries = [
    protocolOwner, // 5% to protocol (minimum required)
    { beneficiary: account.address, shares: parseEther('0.95') }, // 95% to creator
  ];

  const BUYBACK_DESTINATION = account.address; // receives bought-back tokens

  const params = sdk
    .buildMulticurveAuction()
    .tokenConfig({
      name: 'Rehype Token',
      symbol: 'RHT',
      tokenURI: 'https://example.com/metadata.json',
    })
    .saleConfig({
      initialSupply: parseEther('1000000000'),
      numTokensToSell: parseEther('1000000000'),
      numeraire: addresses.weth,
    })
    .withCurves({
      numerairePrice: 3000, // ETH = $3000 USD
      curves: [
        { marketCap: { start: 500_000, end: 1_500_000 }, numPositions: 10, shares: parseEther('0.3') },
        { marketCap: { start: 1_000_000, end: 5_000_000 }, numPositions: 15, shares: parseEther('0.4') },
        { marketCap: { start: 4_000_000, end: 50_000_000 }, numPositions: 10, shares: parseEther('0.3') },
      ],
      beneficiaries,
    })
    .withRehypeDopplerHook({
      hookAddress: addresses.rehypeDopplerHook!,
      buybackDestination: BUYBACK_DESTINATION,
      customFee: 3000, // 0.3% swap fee
      // Distribution must sum to WAD (100%)
      assetBuybackPercentWad: parseEther('0.20'),      // 20%
      numeraireBuybackPercentWad: parseEther('0.20'), // 20%
      beneficiaryPercentWad: parseEther('0.30'),       // 30%
      lpPercentWad: parseEther('0.30'),                // 30%
    })
    .withGovernance({ type: 'noOp' })
    .withMigration({ type: 'noOp' })
    .withUserAddress(account.address)
    .withDopplerHookInitializer(addresses.dopplerHookInitializer!)
    .withNoOpMigrator(addresses.noOpMigrator!)
    .build();

  const result = await sdk.factory.createMulticurve(params);

  console.log('Pool:', result.poolId);
  console.log('Token:', result.tokenAddress);
}

main();

---

Fee distribution strategies

Heavy buyback (price support)

.withRehypeDopplerHook({
  hookAddress: addresses.rehypeDopplerHook!,
  buybackDestination: burnAddress,
  customFee: 5000, // 0.5%
  assetBuybackPercentWad: parseEther('0.50'),    // 50% to buy back tokens
  numeraireBuybackPercentWad: parseEther('0.10'),
  beneficiaryPercentWad: parseEther('0.20'),
  lpPercentWad: parseEther('0.20'),
})

LP-first (attract liquidity)

.withRehypeDopplerHook({
  hookAddress: addresses.rehypeDopplerHook!,
  buybackDestination: treasury,
  customFee: 3000,
  assetBuybackPercentWad: parseEther('0.10'),
  numeraireBuybackPercentWad: parseEther('0.10'),
  beneficiaryPercentWad: parseEther('0.20'),
  lpPercentWad: parseEther('0.60'),              // 60% to LPs
})

Treasury-building

.withRehypeDopplerHook({
  hookAddress: addresses.rehypeDopplerHook!,
  buybackDestination: treasury,
  customFee: 3000,
  assetBuybackPercentWad: parseEther('0.10'),
  numeraireBuybackPercentWad: parseEther('0.40'), // 40% to treasury
  beneficiaryPercentWad: parseEther('0.40'),      // 40% to beneficiaries
  lpPercentWad: parseEther('0.10'),
})

---

Collecting fees

Anyone can trigger fee collection; fees are distributed automatically:

const pool = await sdk.getMulticurvePool(assetAddress);

const { fees0, fees1, transactionHash } = await pool.collectFees();
console.log('Fees collected (token0):', fees0);
console.log('Fees collected (token1):', fees1);

---

Configuration reference

RehypeDopplerHookConfig

Parameter	Type	Description
hookAddress	Address	Deployed RehypeDopplerHook (must be whitelisted)
buybackDestination	Address	Receives buyback tokens
customFee	number	Swap fee in bps (3000 = 0.3%)
assetBuybackPercentWad	bigint	% for asset buyback (in WAD)
numeraireBuybackPercentWad	bigint	% for numeraire buyback (in WAD)
beneficiaryPercentWad	bigint	% for beneficiaries (in WAD)
lpPercentWad	bigint	% for LPs (in WAD)
graduationCalldata	Hex	Optional calldata on graduation

---

Rules

• Distribution sum: All four percentages must equal WAD (1e18)

• Beneficiary shares: Must sum to WAD; protocol owner needs at least 5%

• Hook whitelisting: hookAddress must be enabled in DopplerHookInitializer

• Migration: Use noOp - rehype pools don't migrate liquidity

• Pool status: Enters "Locked" (status = 2)