> For the complete documentation index, see [llms.txt](https://docs.hoard.world/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hoard.world/the-world/the-market.md).
# The Market
The Trader
The Market is the canonical HOARD/USDG pool: a Uniswap v4 pool with a Hoard World hook attached.
## The 3% engine
Every swap on the canonical pool pays a **3% fee in USDG**, on both directions.
| Destination | Fee | Purpose |
| ----------- | ---- | ------------------------------------- |
| Stock Vault | 1.5% | Buys SPY for nested Hoardlings |
| USDG Wall | 1.5% | Adds buy-side USDG beneath the market |
## Fee rules
* The fee is collected by the hook, never by the token. HOARD transfers are exact, which keeps it compatible with any ERC20 integration.
* The pool's native LP fee is zero. The 3% is the whole fee, and there is nothing undisclosed on top.
* The hook records every swap into the price oracle that the Bank and the Wall read.
* One contract is exempt from the fee: the LiquidationRouter, and only inside a confirmed liquidation. It cannot be used as a free trading route.
* Only the canonical pool feeds the vault and the wall. A pool without the hook is just a pool.
## In the app
The Trader shows the fee split before you confirm, the estimate of what you receive, and, when buying, how many whole Hoardlings that becomes. HOARD price on the map is the pool's spot price.
---
# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.
## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.
Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:
```
GET https://docs.hoard.world/the-world/the-market.md?ask=&goal=
```
`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.
Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.