Core Viewpoint - The Solana Foundation introduces PropAMMs (Proprietary Automated Market Makers) as a new generation of liquidity mechanism in Solana DeFi, aiming to bridge the efficiency gap between DEX and CEX [1] Group 1: PropAMMs Overview - PropAMMs utilize an off-chain predictive pricing model combined with on-chain minimal data submission to dynamically act as market makers [1] - The mechanism provides real-time quotes based on market volatility, counterparty information, and aggregator sources [1] Group 2: Efficiency and Cost - PropAMMs achieve nearly 99% of CEX trading efficiency at a low cost [1] - The design enhances capital efficiency for passive liquidity providers while incorporating intelligent active market making [1] Group 3: Evolution of Solana DeFi - The introduction of PropAMMs represents an evolution towards "hybrid liquidity" in Solana DeFi [1]