A September preprint reveals that propAMMs, pools controlled by professional operators, offer execution costs of 0.26 basis points for SOL/USDC fills on Solana, compared to 2.59 basis points for public AMMs. The study covers September 1, 2025 through August 31, 2026, with two-second gross maker markouts showing +0.37 basis points for propAMMs versus -0.22 for public AMMs. On Base, Tessera’s execution averaged 1.08 basis points worse by trade and 0.56 worse by volume than reconstructed previous-block-end quotes. Solana is up 1.65% over the past 24 hours and currently ranks #7 by market cap.
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