# RangeRent

> Makes a tick range something one provider holds, by renting it to them exclusively.

A production Uniswap v4 hook. Source: https://github.com/nirholas/range-rent. Part of the HookForge catalogue: https://hookforge.pages.dev

## How it works
Concentrated liquidity is a commons. Anybody may add to any range at any time, and the moment a range becomes profitable everybody piles into it, which is how just-in-time liquidity works: watch for a large swap, add liquidity for one block at exactly the right ticks, take a share of the fee, and withdraw. The capital was never at risk and it collected as though it had been. The providers who sat in that range through the quiet week are diluted by somebody who arrived for one transaction. Every defence so far has taxed the symptom: a fee that punishes short-lived positions, a lock-up, a tenure weight. They all penalise legitimate providers who happen to leave, and none of them stop the strategy, because the payoff scales with the swap and the penalty does not. This removes the commons instead. A range can be leased, and while it is leased nobody but the lessee may add liquidity to it. The lease is bought for a period at a rent the market sets by competition, since anybody may take an unleased range and anybody may outbid an expiring one. Just-in-time liquidity is not made expensive; it is made impossible, because the attacker cannot add at the ticks that matter. The rent goes to the pool, donated to whoever is providing when it settles. So a provider who wants to be alone in a range pays for the privilege, and the payment goes to the providers who are sharing the rest of the pool with them. Unleased ranges stay a commons, which is the point: a pool wearing this hook is not closed, it is one where the ranges worth defending can be defended.

## Prior art
Just-in-time liquidity is well documented and the mitigations are all penalties: time-weighted fee shares, withdrawal delays, and this catalogue's own TenureWeightedFees. Auction-managed AMMs sell the right to set a pool's fee, and this catalogue's TickHarberger sells that right per range. Renting exclusive *provision* rights to a tick range, so that nobody else may add liquidity there at all, is the contribution here, and it is a different right from the one TickHarberger sells.

## Where it does not help
Exclusivity is enforced against the address that calls the pool, which for a router-carried position is the router rather than the person behind it, so a lessee has to provide through an address they control and a lease taken out on a shared router is shared with everybody using it. Beyond that, exclusivity is genuine and so is its cost: a leased range holds only one provider's capital, so a pool whose best ranges are all leased is thinner than one where anybody could join. Leases are fixed-term rather than continuously contestable, so an incumbent holds their range until it expires however valuable it becomes; the term is the pool's choice and a long one is a long monopoly. Rent reaches providers through `donate`, which credits whoever is in range at settlement rather than through the lease, and `settleRent` is callable by anyone precisely so that gap stays small. And a lessee who leaves their range empty has bought silence rather than liquidity, which is a legitimate thing to buy and worth knowing is possible.

## Facts
Slug: range-rent
Contract: RangeRentHook
Callbacks: beforeAddLiquidity, afterInitialize
Parameters: rangeWidth (int24), rentPerSecond (uint128), minTerm (uint32), maxTerm (uint32)
Dynamic fee required: no

## Caveats
- Unaudited.
- A deployment with status "deterministic" is a mined CREATE2 address with no code at it yet. Never present one as live.