USDG

Can refuse liquidity removals. Whoever controls the hook controls the exit for LPs.

• can veto or reshape swaps
  A beforeSwap hook runs before every trade and may revert — for some senders, sizes or time windows. Quotes can succeed and the real swap still fail.
• can block LP withdrawals
  The hook runs before any liquidity removal and may refuse it. On launchpad hooks the hook itself is the only LP; for anyone else this is the exit being controlled by someone else.
• gates who can add liquidity
  Usually means the hook (or its launchpad) is the sole LP — no one else can dilute or front-run the curve. It also means you cannot LP here.
• observes swaps
  afterSwap without a delta cannot move value. Typical for oracles, points and accounting.
• controls pool creation
  Only pools the hook agrees to can be created with it — the launchpad pattern.