RT Kaviish (@kaviish)Prop AMMs are quietly taking over SolanaFrom ~0% in early 2024 to 30%+ of total Solana volume by end 2025This is a major shift in how liquidity is provided and executed onchain, and not many are paying attention https://t.co/uiTTGWlkyq ...

AMMs powered DeFi’s breakout moment in 2020.But four years later, the economics are breaking: LPs underperform holding, pools are shallow, and fee incentives no longer mask structural loss. ...

RT Dan Smith (@smyyguy)Solana Prop AMMs are doing 60-80% of daily trading volume on MON@SolFiAMM was the first prop to quote the pair, with @humidifi joining just 19 minutes later and Aquifer 2 hours later https://t.co/sTvS4a2K6u ...

Core Insights - HumidiFi has emerged as the leading decentralized exchange (DEX) on Solana, achieving a trading volume of $8.55 billion in the past week, surpassing competitors like Meteora, Raydium, and PumpSwap [1] - On September 25, HumidiFi processed a record $1.92 billion in trades, accounting for over one-third of Solana's total daily trading volume [2] - The rise of dark pools, utilizing proprietary automated market makers (prop AMMs), is attracting large traders due to private execution and reduced slippage [3] Trading Volume and Performance - HumidiFi's current 24-hour trading volume stands at $557 million, second only to Meteora's $700 million [2] - Weekly decentralized trading on Solana has increased by 6%, reaching $2.7 billion as of September 29 [7] Market Dynamics - Dark pools like HumidiFi are gaining traction as they offer cost-efficient swaps, sometimes achieving negative spreads, leading to a shift from public liquidity venues [4] - Despite HumidiFi's impressive performance, established competitors like Raydium and Meteora maintain strong market positions due to robust liquidity and extensive integrations [6] Trader Preferences - HumidiFi's lack of a public front end and social media hype does not hinder its ability to attract significant flow from professional market participants, allowing large trades without market alerts [5]

AMMs went from v2 → v3…What comes after that? 👀 ...