{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,8,14]],"date-time":"2026-08-14T15:33:10Z","timestamp":1786721590707,"version":"build-2736575974"},"posted":{"date-parts":[[2026]]},"group-title":"SSRN","reference-count":0,"publisher":"Elsevier BV","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"abstract":"<jats:p>I document a previously unrecognized form of market microstructure activity following the StablR stablecoin exploit of 24 May 2026. As of the snapshot date (26 May 2026), the depegged USDR and EURR tokens had 196 and 84 Uniswap V4 pools, respectively, against fewer than 13 legitimate pools each in the months preceding the exploit. Of the 280 V4 pools observed at snapshot, 260 (188 USDR and 72 EURR) were created within the focal event window of 22 to 27 May 2026. Pool creation occurred in two distinct waves: a USDR-dominated burst beginning during the early hours of 24 May UTC and peaking at 52 pools per hour, and a smaller mixed wave approximately 30 hours later on 25 May. Pool creators are diverse: 51 distinct addresses created the USDR pools and 21 distinct addresses created the EURR pools, with a union of 62 unique addresses across both tokens. The top two creators alone account for 75 of 280 pools (27 percent). The five most active wallets all predate the exploit by 3 to 22 months and exhibit prior onchain activity consistent with automated MEV-style operations rather than attack-aligned behavior. I argue that this proliferation pattern is structurally distinctive to Uniswap V4. The singleton PoolManager architecture eliminates per-pool contract deployment. Uniswap Labs reports that this reduces pool-creation gas cost by approximately 99 percent relative to V3 (Adams et al., 2024). Under V4, pool creation becomes a tactical response to short-lived dislocations rather than a strategic capital allocation. The finding has two implications. First, pool counts as a measure of DEX depth are corruptible by post-event proliferation. Second, V4 architecture has produced an emergent on-chain behaviour with no V2 or V3 analog. I provide on-chain evidence and full data definitions.<\/jats:p>","DOI":"10.2139\/ssrn.6832678","type":"posted-content","created":{"date-parts":[[2026,6,2]],"date-time":"2026-06-02T00:04:31Z","timestamp":1780358671000},"source":"Crossref","is-referenced-by-count":0,"title":["MEV Pool Proliferation in Uniswap V4: Forensic Evidence from the May 2026 StablR Stablecoin Exploit"],"prefix":"10.2139","author":[{"ORCID":"https:\/\/orcid.org\/0009-0005-8477-9393","authenticated-orcid":true,"given":"Boon Chuan","family":"Lim","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"78","container-title":[],"original-title":[],"deposited":{"date-parts":[[2026,8,14]],"date-time":"2026-08-14T14:52:39Z","timestamp":1786719159000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.ssrn.com\/abstract=6832678"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026]]},"references-count":0,"URL":"https:\/\/doi.org\/10.2139\/ssrn.6832678","relation":{},"subject":[],"published":{"date-parts":[[2026]]},"subtype":"preprint"}}