According to DWF Ventures analysis, over 90% of SOL-to-stablecoin trades routed through Jupiter flow through proprietary market makers (propAMMs), representing 15 to 27% of daily on-chain DEX volume. Jump Crypto found that 91.9% of propAMM fills executed in March offered better pricing than the lowest institutional fee tier on centralized platforms. This professional model is expanding as Nasdaq invests $100 million in Payward (Kraken’s parent company) and the London Stock Exchange partners with the same firm to launch tokenized equities on its infrastructure in 2027.
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