# Why one token can have hundreds of pools

> Anybody can create a trading pool for any token, at any fee. The issuer is not asked. We counted the pools that hold the tokens on this site, and we do not know who made most of them.

- **Kind:** Explainer
- **Checked:** 2026-09-01
- **Author:** Stocks On Chain

## Sources

- Uniswap v4 documentation: https://docs.uniswap.org/contracts/v4/overview

---

Anybody can create a trading pool for any token. The issuer is not asked, and
cannot refuse.

That is why one tokenized stock can appear in hundreds of pools.

## How a pool is made

A pool is a contract. You create one with a transaction. You choose the two
assets, and you choose the fee.

Nobody approves the request, not Uniswap and not the company that issued the
token.

## The fee is a number you can read

Each pool keeps a share of every trade. That share is the fee, and the pool
contract stores it.

Uniswap's standard fees stop at 1 percent. The field holds much larger values. A
pool with a fee of 95 percent keeps 95 cents of each dollar traded.

## What we counted

On 1 September 2026 we read every Uniswap pool that holds a token on this site.
We read the chains directly, not a data provider.

| Chain | Pools holding one of these tokens | Paired with a dollar | Of those, fee above 1% |
| --- | --- | --- | --- |
| Robinhood Chain | 16,543 | 2,342 | 1,498 |
| Ethereum | 1,393 | 818 | 750 |
| BNB Chain | 915 | 559 | 461 |
| Base | 38 | 1 | 0 |

Solana works differently. There we read the pool accounts of four programs and
found 2,070.

## We do not know why they exist

We do not know who made most of these pools. We do not know what they are for.
We can tell you what is in the contracts, because we read them.

## How to check this

1. Take a token's contract address from its page on this site.
2. Search the chain for pool creation events that name that address. Uniswap v4
   calls the event `Initialize`. Uniswap v3 calls it `PoolCreated`.
3. Read the fee from each pool the event names.

## Frequently asked questions

### Can anybody create a trading pool for a tokenized stock?

Yes. Creating a pool is a transaction that anybody can send. The person who creates it chooses the two assets and the fee. The token issuer is not asked.

### What is a pool fee?

The share of each trade the pool keeps. It is stored in the pool contract. Uniswap's standard fees stop at 1 percent, but the field holds much larger values.

### How many pools hold a tokenized stock?

We counted 18,889 Uniswap pools across four chains on 1 September 2026, and 2,070 pool accounts on Solana. One token appeared in 2,764 of them.


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Source: https://stocksonchain.io/wiki/why-one-token-can-have-hundreds-of-pools
Data read: 2026-09-01T00:00:00.000Z
Published by Gwei, Inc.
Licence: CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Attribute to Stocks On Chain, https://stocksonchain.io.

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