0xDeployer launches MAG7 index token on Robinhood Chain with fees paid to holders

First index token on Bankr routes trading fees back into the basket for holders rather than creators.

0xDeployer said on October 17, 2026, that MAG7, the first index token on Bankr, is live on Robinhood Chain. Trading fees are paid to holders instead of being claimed by a creator.

In a post on X, 0xDeployer said MAG7 is a single token backed by a basket of up to 20 tokens. Trading fees on this index 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. The index does not require its own liquidity provider because it is already in the pools of the tokens it holds, according to the post.

MAG7 charges a 0.50% fee per 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. The fee is released into the basket over 24 hours, increasing the backing of each MAG7 after every trade. Creators can choose a fee between 0.25% and 1% at launch, and it remains fixed, the post said.

Rebalancing occurs through Dutch auctions rather than market sells. The index offers excess holdings at a price that starts favorable to holders and declines each minute until filled. Anyone can participate in the auction. Each rebalance is announced 48 hours in advance, allowing holders to exit first, according to the deployer.

Holders can swap MAG7 back for the seven underlying stocks directly, without fees, Bankr, or a pause function, the post said.

0xDeployer also seeded a small USDG/MAG7 pool on Uniswap to ensure the token appears on DEX screener tools but advised that purchases should occur on Bankr. Hook trades mint new MAG7 at the basket’s price and pay holders, while arbitrage closes any price 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 integrated into wallets and aggregators ahead of a full rollout. Currently, only the deployer is creating indexes. A future feature will allow anyone to launch a token paired with an index, where buying the coin also buys the index, and creator fees are directed to the index.

Buying MAG7 on Bankr is not available in the US or UK, the post said. 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. It states that its Stock Tokens are not available in the US and are subject to restrictions in other jurisdictions.