LP Operator Manual / Robinhood Pools

01

IDENTITY BEFORE METRICS

Verify the chain, tokens, and pool identity

Robinhood Chain mainnet is chain ID 4663; its testnet is 46630. Treat data from either network as a different dataset, even when names and symbols match. The official connection page publishes both IDs and separate explorers/RPC hosts. [Robinhood: connecting]

Assets: record chain ID, full token0 and token1 contract addresses, decimals, and price orientation. A bridged ERC-20 can have a different L2 address from its Ethereum address. [Robinhood: bridging]
Token controls: on the mainnet Blockscout, inspect verified source, proxy implementation, owner/roles, pausing, freezing or blacklisting, mint/burn controls, and recent admin transactions. “Verified source” means published code is available for inspection; it is not a safety verdict. [Blockscout: verification]
v3 pool: record the pool contract address, both token addresses, fee tier, tick spacing, current tick, and observation block. A pair symbol is not enough. [v3 whitepaper §§3.1, 6.1]
v4 pool: record the entire PoolKey: (currency0, currency1, fee, tickSpacing, hooks). Core computes PoolId = keccak256(abi.encode(PoolKey)). [v4 PoolKey source] [v4 PoolId source]
Observation: attach block number, timestamp, source URL/API route, requested window, and coverage state to every copied number.

USDG IS A TOKEN, NOT THE UNIT “FIAT USD”

This terminal uses USDG as a quote basis where stated. Paxos describes USDG as a dollar-pegged stablecoin and says it is redeemable from Paxos one-for-one, with reserve composition and attestations published separately. That issuer claim does not turn a USDG-denominated mark into a fiat oracle or remove market, contract, access, redemption, bridge, or issuer risk. Verify the exact chain contract and current terms. [Paxos USDG overview] [USDG attestations]

02

MECHANICS / V3 + V4

V3 and V4 liquidity mechanics

ACTIVE RANGE

In v3 and v4, a position earns swap fees only while spot is inside its range. Beyond an edge it is inactive and becomes one-sided; it resumes if price re-enters. [Uniswap: concentrated liquidity]

TICKS

Ticks are discrete price boundaries; one tick is a 0.01% price step. Lower/upper ticks bound a position, while tick spacing limits which ticks can initialize. Crossing an initialized boundary changes active liquidity. [Uniswap: ticks]

FEES

Swap fees accrue pro rata to liquidity active at the swap. In v3/v4 they sit as position claims rather than compounding automatically and must be collected. A collectible fee is revenue; inventory loss and costs can still make the position unprofitable. [Uniswap: fees] [v3 whitepaper §3.2.1]

V4 FEE MODE

A v4 pool’s dynamic-fee capability is fixed at creation, but its LP fee can later update through PoolManager.updateDynamicLPFee or per swap through beforeSwap. Record fee mode, current rate, rate history, and setter logic—not one displayed rate. [Uniswap: dynamic fees]

A v4 hook is an external contract fixed in the PoolKey. It may run before/after initialization, swaps, liquidity changes, or donations. Return-delta permissions can change operation balances; custom accounting can add hook fees or replace native concentrated-liquidity pricing with custom logic. [Uniswap: hooks] [Uniswap: custom accounting]

Read permissions: decode the hook address flags and compare them with implemented callbacks.
Read authority: identify owner, proxy, upgrade path, timelock, pauser, fee recipient, oracle and parameter setters.
Read dependencies: list external calls, bridges, lending systems, oracles, unusual token behavior, and failure modes.
Read deltas: determine whether the hook can take a fee, alter input/output, hold assets, rehypothecate, or bypass native swap math.

HOOK REVIEW IS PART OF POOL REVIEW

The Uniswap Foundation security framework flags accounting, external calls, math, dependencies, upgradeability, autonomous updates, and price-impacting behavior as separate hook risks; its worksheet is self-assessment, not certification. An audit is evidence, not a guarantee. [v4 hook security framework]

03

SCREEN / SAME POOL / SAME WINDOW

Compare pool fees, activity, and depth

Choose the exact PoolId/address and a window before looking at rankings. Uniswap’s Explore instructions say pools can be sorted by TVL, pool/rewards APR, one-day or 30-day volume, and one-day volume/TVL, then filtered by network or name/address/symbol. Use those fields for discovery; in this terminal select the same explicit 1h, 24h, 7d, 30d, or all window for fees and volume. Never divide metrics from different windows, pools, end times, or valuation bases. [Uniswap: Explore fields] [Robinhood pools]

SAME-POOL DIAGNOSTICS

TURNOVER_W = VOLUME_W / TIME-WEIGHTED ACTIVE CAPITAL_W
GROSS FEE DENSITY_W = FEES_W / TIME-WEIGHTED ACTIVE CAPITAL_W
ACTIVE SHARE_t = ACTIVE VALUE_t / TOTAL VALUE_t

These are screens, not returns. A current active-capital snapshot is not the time-weighted denominator for a historical window. If only snapshots exist, label the ratio a rough proxy and do not annualize it. For dynamic-fee or hooked pools, fees / volume is an observed effective-rate diagnostic only when both fields share definitions and coverage.

SCREEN	RECORD	REJECT / INVESTIGATE WHEN
WINDOW	Start/end time, indexed-through block, volume, fees, swaps	Windows or coverage differ; missing is presented as zero
CAPITAL	Total value, active value, valuation basis, as-of block	Only headline TVL exists or active denominator is a single late snapshot
RANGE	Spot orientation, current tick, lower/upper ticks, distance to each edge, time active	Orientation is ambiguous or expected holding period exceeds untested edge distance
DEPTH	Executable output/price impact for the same notional in both directions	Chart looks deep but the required size crosses gaps or many initialized ticks
FLOW	Contract-verified swaps, notional, direction, source identity, post-trade markout	Headline volume cannot be joined to receipts/logs or is dominated by unverified source labels
CONTROL	Hook, fee mode/history, token admins, proxies, oracles, fee recipients	Code or authority is unknown, mutable without acceptable controls, or cannot be simulated

Depth is local to the path a trade crosses. Read the liquidity around spot and request quotes at the intended size in both directions; a total-value number does not reveal gaps, edge proximity, or slippage.

NEVER SUM RAW L ACROSS POOLS

Concentrated-liquidity L is virtual liquidity for a particular price interval. Its meaning depends on token ordering/decimals, price, range, and pool configuration. Compare value or executable depth on an explicit basis; do not add raw L across pools or treat it as dollars. [v3 whitepaper §§6.1–6.2]

04

ACCOUNTING / POSITION CASHFLOWS

Calculate net returns and benchmarks

NET LP P/L AT T

MARKED OPEN POSITION_T + LP CASH WITHDRAWN/COLLECTED
− LP CASH DEPOSITED − GAS − PREP/REBALANCE/EXIT SLIPPAGE − OTHER COSTS

Use actual token cashflows and one end-time price basis. If a removal contains principal and fees, count the transfer once. If collectible fees are already inside the marked position or a collected transfer, do not add them again. Include approvals, failed transactions, collections, bridge costs, inventory-preparation swaps, manager/hook fees, financing, and exit price impact where they apply.

EXCESS VS HOLD LP TERMINAL WEALTH_T − VALUE_T(UNTRADED STARTING TOKEN QUANTITIES)

For multiple deposits and withdrawals, use a cashflow-matched hold benchmark rather than one arbitrary start snapshot. State whether the comparison is versus holding, a continuously rebalanced inventory, or another deployment such as lending; these are different questions.

The loss-versus-rebalancing paper models LP return as a beta-like market exposure plus an alpha-like microstructure component: accrued fees minus losses to arbitrageurs. Its empirical result is for one Uniswap v2 ETH–USDC pool, while the paper’s framework discusses application to concentrated liquidity. It assumes a stylized continuous market and explicitly abstracts from gas and block discreteness, so its numerical finding is not a Robinhood Chain, v3, or v4 backtest. [Milionis et al.: LVR]

First benchmark: net result versus holding the same starting quantities over the same timestamps.
Research benchmark: fees minus loss versus a strategy that repeatedly matches the AMM’s risky-asset inventory at an external reference price.
Reality adjustment: subtract gas, execution, financing, hook/manager fees, taxes if applicable, and any cost omitted by the model.
Unresolved data: if external reference prices, inventory through time, or complete cashflows are missing, LVR and net alpha are unknown—not zero.

05

PUBLIC FLOW / TESTABLE ALPHA

Research hypotheses and failure checks

The two public flow origins used here are Apollo and rhtrenches. Apollo exposes current-holdings/equity-history slots for traders it labels verified; the public view may be empty or require sign-in. rhtrenches exposes a bounded tape with time, side, token, size, trader label, contract and transaction links, and calls itself unofficial. These are selected observations—not complete market flow, verified beneficial ownership, intent, or proof that a trade traversed a particular pool.

For every candidate flow: copy the full token address and transaction hash; open the receipt/logs on Blockscout; identify the actual pool/router and chain; resolve the exact PoolKey/address; then join it to same-window pool swaps and fees. A username, profile, calldata target, or token match alone is insufficient route evidence.

MECHANIC: Established by deployed code or protocol documentation: range activation, fee accounting, PoolKey fields, hook callbacks.
OBSERVATION: A value tied to a source, exact identity, block/as-of, window and coverage. It can be partial without being false.
HYPOTHESIS: A predeclared relationship tested on future or held-out data, with a threshold and result that would reject it.

HYPOTHESIS	TEST	FALSIFIED WHEN
Observed trader flow becomes fee-paying flow in this exact pool	Resolve receipts/logs to PoolId; measure same-window swaps, volume and fees; repeat on a held-out window	Transactions route elsewhere, cannot be resolved, or subsequent attributed flow/fees miss the predeclared minimum
A narrower range improves capital use	Run a fixed range rule against a wider rule on the same price path; include inactive time, inventory, every rebalance and gas	Net result after costs fails to beat the wider rule or matched hold benchmark
A dynamic-fee hook reduces adverse selection	Compare fee revenue minus post-trade markouts and hook fees with a matched static pool/rule at the same sizes and periods	Net markout-adjusted result is no better, or fee/authority behavior cannot be independently reconstructed
Current flow is durable rather than one-source promotion	Measure share by verified origin/address and repeat across non-overlapping windows	Volume/fees collapse when the dominant source stops, or most source identity remains unverified
Gross fees clear the opportunity-cost hurdle	Reconstruct position cashflows, compare with matched hold and declared alternative, then subtract all costs	Net excess is non-positive under the predeclared base case, or becomes unknown because required cashflows/prices are absent

CANDIDATE KILL SWITCH

Reject the candidate—not the data warning—when complete identity cannot be proven, required-size depth fails, the net result misses its declared benchmark, held-out flow fails, or token/hook authority exceeds the risk you specified before screening. Do not move the hurdle after seeing the result.

06

OBSERVATION BOUNDARIES

Freshness, history, and coverage

Select the terminal's HEAD / INDEX readout, labeled INDEX STATUS on mobile, to open index details. It separates the live block gap, historical backfill, and pending accounting work, and shows timings for the last live and history batches. The displayed index time lag is the age of indexed blocks, not a catch-up ETA.

CURRENT

BLOCK-PINNED STATE

Spot, active liquidity, configuration or position state at a named block. It may be newer than durable history and cannot supply a historical denominator by itself.

DURABLE

INDEXED THROUGH

Events committed through the durable cursor. A requested window is complete only when the index reaches both its start and end.

PARTIAL

KNOWN CATALOG / BOUNDED FEED

This service’s verified pools and selected public-flow sources. Absence is not proof of no pool, no owner, or no activity elsewhere.

Record source block/timestamp, indexed head, history start, requested window, omitted-row limits, valuation coverage, and any provisional suffix.
Keep unknown values null/unknown. Do not convert missing fees, prices, positions, gas, or history to zero.
A current position may predate the index. Without its opening quantities and intervening cashflows, net P/L and hold comparison are incomplete.
Custody addresses can aggregate many beneficial owners. Address activity proves an address acted; it does not prove who bore the economics or why.
Chain-wide dashboards, wallet APIs, Uniswap screens, and this terminal can use different prices, clocks, pool discovery, and fee definitions. Reconcile before comparing.

MAINNET / TESTNET CHECK

Confirm 4663, mainnet explorer hostname, contract address, and transaction receipt together. A testnet deployment or schema is not evidence of mainnet liquidity, volume, ownership, or profitability. [official network table]

07

VERIFIED ROBINHOOD ECOSYSTEM TOOLS

Robinhood ecosystem tools

Robinhood’s ecosystem page is a discovery list and explicitly says inclusion is not an endorsement or warranty. The shortlist below was checked against the linked product or documentation; none supplies a complete LP return by itself. [Robinhood ecosystem list]

TOOL	EXACT USE	LIMIT / DO NOT INFER
UNISWAP EXPLORE / POSITION SCREEN	Filter Robinhood pools; compare TVL/APR and one-day/30-day volume. For a held position, inspect token amounts, uncollected fees, min/max range and market price	APR/live aggregates are not reconstructed net return; USD displays can be unavailable. Neither screen replaces complete PoolKey/hook review or time-weighted active capital
BLOCKSCOUT / REST API	Resolve full contracts, verified source/proxies, transactions, receipts/logs, tokens and addresses; query instance `/api/v2/…`	Verification and labels are not audits or beneficial-owner proof; pagination and indexing state matter
COINGECKO ROBINHOOD	Cross-check token address pages, displayed prices/24H volume/market fields, and chain-level DEX discovery	Third-party aggregates and shortened pair labels do not establish exact pool route, local depth, fee attribution, or a USD oracle
ENTROPY / ARBDATA	View chain-level asset/stablecoin/tokenized-value KPIs and scoped time-series; the page says KPI cards use the latest available date	Macro context only—not a pool, range, fee, position, or execution-depth dataset
ALLIUM APP / COVERAGE NOTE	SQL/visualize indexed data; Allium’s mainnet launch note claims raw data, transfers, balances, DEX trades, prices, historical data and realtime APIs	Account/access required; Explorer API docs say enterprise-only. The public chain schema page checked is still labeled Robinhood Testnet, so confirm a mainnet schema and plan before use
ZERION API	For chain key `robinhood`, cross-check wallet token positions and transaction history through authenticated API endpoints	Zerion’s support table marks Robinhood tokens/transactions/NFTs available but DeFi coverage unavailable; do not use it as LP-position completeness or P/L proof
MORPHO DATA / API	Observe Robinhood lending APY, TVL, utilization, fees and history as a separately measured capital-deployment hurdle	Variable lending is not risk-free or a hold benchmark; it adds market, oracle, borrower, curator and contract risks. USDG values remain token-denominated
RIALTO SWAP API / ARCUS SPOT RFQ	Compare a same-time, same-size external spot quote: Rialto returns route/output/fee breakdown; Arcus describes indicative liquidity and a signed minimum-output intent	API key or signing may be required; RFQ/PropAMM quotes are not resting Uniswap depth, an independent oracle, or evidence that candidate LPs earned the flow

01
DISCOVER
Use Uniswap/CoinGecko/arbdata to find a candidate, never to finalize identity.
02
VERIFY
Use Blockscout and protocol source to resolve tokens, PoolKey/address, hook, receipts and admins.
03
MEASURE
Use one clock/window and explicit active-capital, flow, markout, cashflow and coverage definitions.
04
CHALLENGE
Compare executable external quotes and declared benchmarks; reject on the prewritten falsifier.

NOT LP ANALYTICS

Lighter is listed as a perpetuals DEX, Arcus documents separate spot RFQ and perpetuals systems, Paxos documents USDG issuance, and Morpho is lending. They can supply context only when the instrument and timestamp match; none proves Uniswap pool economics.

08

LOCAL VERIFIED CATALOG / MACHINE READABLE

Token-to-pool API

The public endpoint accepts one full token contract and returns verified known catalog matches where it appears on either currency side. It is a discovery query, not proof of all pools deployed on chain.

REQUEST GET /api/v1/pools?token={TOKEN_CONTRACT_ADDRESS}

Confirm the response chain, token addresses, protocol, complete pool identity, hook/fee mode, and pool link.
Record current-state block separately from durable indexed head and requested window.
Preserve unknown fields and precision-safe integer strings; do not coerce them to zero or floating-point approximations.
For schemas and field semantics, use the OpenAPI document; for owner/custody evidence use the research view with its returned limitations.

PRIMARY SOURCES

Concentrated liquidity/ticks · fee accounting · v4 PoolKey · dynamic fees · hooks · custom accounting · LVR paper · Robinhood Chain/ecosystem.

Liquidity provider guide