X @Solana

RT Dan Smith (@smyyguy)The market structure around spot trading on Solana has evolved rapidly over the last few months, with a meaningful change stemming from the rise of prop AMMsAmong many things, Prop AMMs serve tighter quotes to users by using actively managed liquidity - quotes are often updated multiple times per second. Their midpoint often tracks CEX prices like Binance, which is generally referenced as the "true" priceOne of the most interesting offshoots of this trend is the CEX leg of CEX<>DEX ar ...