> For the complete documentation index, see [llms.txt](https://docs.dynamichooks.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.dynamichooks.com/why-markets-need-rules-that-change.md). # Why markets need rules that change A token launch is a bet made in one transaction. The launcher chooses a fee, a split, a liquidity position, and that is the market for the rest of its life. That is the wrong shape for the thing being launched. Markets have lifecycles: * At launch nobody is verified, nobody has liquidity, and the right thing to do is protect the pool and the people who show up early. * Once a creator proves who they are, they should be paid directly, not through an escrow or a promise. * Once a market is deep, the fee that made sense at ten ETH of liquidity is a tax at a thousand. * Once a community has hit something real, a product shipped, a number reached, a vote passed, the economics should be allowed to reward it. Today these moments are handled off-chain, by multisig votes, by manual contract calls, or not at all. Every one of them is a place where trust is required and where things go wrong. Dynamic Hooks moves these moments into the hook. The rule is written at launch. The *change* happens later, automatically, when the condition is met and proven. The launcher does not hold a key to it. Neither do we. **Programmable tokens put rules in the asset. Programmable markets put rules in the venue.** The venue is where fees are taken, where liquidity lives, and where every trade already passes through code. That is where the rules belong. --- # 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.dynamichooks.com/why-markets-need-rules-that-change.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.