just bought the mag 7 on robinhood chain. deployed MAG7 this evening, the first index on bankr: one token backed by a basket of up to 20 tokens. and on MAG7, the trading fees go to the holders. every buy, a uniswap v4 hook buys all 7 stocks from their own pools and mints MAG7. every sell burns MAG7 and sells the basket. one transaction either way. the index itself needs no LP, so creators don’t need to provide liquidity to launch one. it’s already in the pools of the tokens it holds. this isn’t possible without uniswap hooks. the fees: MAG7 charges 0.50% a trade. i set my creator cut to 0, so 0.30% of every buy and sell goes back into the basket for holders, and 0.20% to the protocol. nobody claims anything. it’s released into the basket over 24h, so after every trade each MAG7 is backed by a little more. creators pick a fee of 0.25–1% at launch and it never changes. the index never market-sells when rebalancing. it runs dutch auctions, offering what it holds too much of at a price that starts good for holders and gets cheaper every minute until someone fills it. anyone can fill. every rebalance gets 48h notice, so holders can leave first. you can always swap MAG7 back for the 7 stocks directly. no fee, works without bankr, can’t be paused. i also seeded a small USDG/MAG7 pool on uniswap so it shows up on dexscreener. but buy on bankr. it goes straight through the hook, which mints new MAG7 at the basket’s price, as deep as the 7 stocks’ own pools rather than my small one. hook trades are also the ones that pay holders. if the pool drifts, arbs close the gap. it’s early. we’re getting the hook supported in wallets and aggregators before the full rollout. right now it’s just me creating indexes. soon anyone can make their own on base or robinhood. and then: pairing. you’ll be able to launch a token paired with an index. buying your coin buys the index, the index buys the basket, and your creator fees come in the index. buying MAG7 on bankr isn’t available in the US or UK.