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Morning Edition · Friday, October 2, 2026Published at 2:09 AM EDT · New York
Research Finds Professional Market-Maker Pools Cut Solana Trading Costs While Passive Liquidity Providers Lose Ground
A September preprint reports cheaper SOL/USDC execution in quiet markets at proprietary automated market makers, with returns to public-pool depositors requiring separate accounting.
A September preprint examined proprietary automated market makers, known as PropAMMs, on Solana and found that they delivered cheaper execution for SOL/USDC trades in quiet market conditions than open public pools, while returns to passive…
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Part of a tracked trend
On-Chain Market Making Professionalizes
On-chain liquidity provision keeps shifting from undifferentiated passive pools to professional quoting firms that can price and decline flow, lowering trader costs while compressing returns to passive depositors and concentrating market making in fewer hands.
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