Unipeg Rewards Program Proposal.

When v4 shipped, I noticed one detail that stood out: hooks. Custom logic that runs directly at the point of exchange, not wrapped around it or bolted on top. That's a small technical change with a large design space behind it. Unipeg is an attempt to show what that actually means.

uPEG uses a custom v4 hook to render a unique 24×24 collectible image entirely on-chain, no external storage, no IPFS. Each image is tied to a specific integer amount of uPEG - 1, 2, 3 and so on. When a swap occurs, the hook generates a hash encoding layers, colors, and the original owner.

That hash is the input. The SVG renderer reads it and assembles a unique unicorn. The object's appearance is a function of market activity. Every trade that touches the pool produces a new number. That number is what gets rendered.

The name: NFTs were always called JPEGs. Uniswap was almost called Unipeg. A peg being a rule enforced at the point of exchange, which is precisely what a v4 hook is.