Hookless NFT Claim Pools: Redemption Fees and Net-Output Divergence in a Local Uniswap v4 Stack

This report examines a fractional NFT market architecture in which one vault issues fungible claims against an ERC-721 basket and opens hookless Uniswap v4 pools for those claims. The selected factory deploys PegVaultV2, whose claim unit changes with supply and inventory and whose directional transfer rule burns claims leaving the PoolManager for a non-exempt recipient. An isolated build passed 17 existing local integration tests. Two added tests show that a direct pool buyer receives fewer claims than the pool's gross output when the outbound burn applies, while the project router sells the actual ratio-based amount minted after a donation. Thus a hookless pool does not by itself make gross swap output equal to net claim receipts. The work documents code and local behavior, not a verified live deployment, general router compatibility, audit, or social outcome. Preparation of this report was assisted by Codex. The research programme is directed toward human agency, financial inclusion, and evidence-based accountability. Intended social benefits are distinguished from measured technical results in the manuscript. The manuscript and newly authored analysis are offered under CC BY 4.0. Any supplied source files retain the license terms stated in the supplement; the record license does not replace third-party source licenses.