Study: Solana propAMMs cut swap costs while passive pool returns suffer
- —SOL/USDC execution cost: 0.26 bps for propAMMs vs 2.59 bps for public AMMs
- —Two-second maker markouts: +0.37 bps for propAMMs and −0.22 bps for public AMMs
- —Sample covers Sept. 1, 2025, through Aug. 31, 2026
- —On Base, Tessera execution averaged 1.08 bps worse than reconstructed quotes
Why it matters: The split between trader pricing and depositor returns changes how passive LP risk in Solana DeFi should be assessed.
Source: CryptoSlate