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The Rise of Proprietary Market Makers on Solana - Figment

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Proprietary, “Prop” or “Dark” Automated Market Markets (AMMs) such as SolFi, Humidifi and Tessera V on Solana are absorbing a meaningful share of Solana volume. Prop AMM’s value proposition is simple: lower slippage and better prices for users, and less adverse flow for market makers. Less adverse flow means AMMs quote tighter spreads for liquidity pairs, in turn giving Solana users better prices and deeper liquidity for their trades. All together, this draws more trading volume and onchain. Higher trading volumes through tighter spreads and deeper liquidity translates to real usage and demand for blockspace on Solana. This means greater total MEV tips and priority fees within blocks. Figment’s Solana delegators earn more Solana Staking Rewards as trading volumes increase onchain. On Solana, Prop AMM pricing and slippage rivals traditional centralized exchange order books, with slippage as low as 0-0.5bps! Prop AMM Flywheel What is a Dark or “Proprietary” AMM on Solana “Proprietary” A

The Rise of Proprietary Market Makers on Solana - Figment Skip to content Solana The Rise of Proprietary Market Makers on Solana David Liang Solana Ecosystem Lead Published October 2, 2025 Research Staking Guides Protocols News Product Updates All Articles Share Copied Link! Proprietary or Dark Automated Market Makers on Solana Proprietary, “Prop” or “Dark” Automated Market Markets (AMMs) such as SolFi , Humidifi and Tessera V on Solana are absorbing a meaningful share of Solana volume. Prop AMM’s value proposition is simple: lower slippage and better prices for users, and less adverse flow fo

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