Hold bald, hold a leveraged ETH position. No funding rates, no liquidations, no keeper. The peg is enforced on every single swap.
The hook reads Chainlink ETH/USD on each swap and computes where bald should be — the launch price scaled by 5× the ETH move since inception. ETH up 1% means bald should be up 5%.
If the pool price is below the oracle target, selling bald pushes it further off peg and triggers a dynamic fee penalty — proportional to the gap. Buying is always cheap. The further below peg, the more it costs to sell.
After every swap, if bald is below target, the hook uses treasury WETH to buy bald back — atomically, in the same transaction. No keeper, no delay.