MAG7 index token launches on Robinhood Chain with fees paid to holders
0xDeployer says the first index on Bankr holds up to 20 tokens and routes trading fees back into the basket.
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0xDeployer said on October 17, 2026 that MAG7, described as the first index token on Bankr, is live on Robinhood Chain, with trading fees paid to holders rather than claimed by a creator.
In a post on X, the deployer said MAG7 is a single token backed by a basket of up to 20 tokens, and that on this index the trading fees go to holders. Every buy routes through a Uniswap v4 hook that purchases the seven underlying stocks from their own pools and mints MAG7, while every sell burns MAG7 and sells the basket, according to the post. The index needs no liquidity provider of its own, the deployer said, because it is already in the pools of the tokens it holds.
MAG7 charges 0.50% a trade. The deployer said the creator cut was set to zero, so 0.30% of every buy and sell goes back into the basket for holders and 0.20% goes to the protocol. Nothing is claimed; the fee is released into the basket over 24 hours, so each MAG7 is backed by slightly more after every trade. Creators choose a fee of 0.25% to 1% at launch, and it never changes, the post says.
Rebalancing runs through dutch auctions rather than market sells. The index offers what it holds too much of at a price that starts favorable to holders and declines each minute until someone fills it, and anyone can fill. Every rebalance gets 48 hours of notice so holders can exit first, according to the deployer.
Holders can swap MAG7 back for the seven stocks directly, with no fee, without Bankr, and without a pause function, the post says.
The deployer also seeded a small USDG/MAG7 pool on Uniswap so the token appears on dexscreener, but said buying should happen on Bankr. Hook trades mint new MAG7 at the basket’s price and pay holders, the post says, and arbitrage closes any gap if the pool drifts. USDG is a US dollar-pegged stablecoin issued under the supervision of Singapore’s Monetary Authority and redeemable 1:1 through its issuer, Paxos, according to CoinMarketCap.
The deployer said the hook is still being supported in wallets and aggregators before a full rollout, and that only the deployer is creating indexes for now. A later feature will let anyone launch a token paired with an index, where buying the coin buys the index and creator fees arrive in the index.
Buying MAG7 on Bankr is not available in the US or UK, the post says. Robinhood Chain’s site describes it as a permissionless Layer 2 built for financial services and real-world assets, developed on Arbitrum’s Layer 2 infrastructure, and says its Stock Tokens are not available in the US and are subject to restrictions in other jurisdictions.