Solana-based propAMM market posts 0.5 bps–1.3 bps two-sided costs on $5k–$20k trades in SPCX, MU, SNDK and DRAM
AI Market Summary
Backpack x Sunrise's Solana-based propAMM for tokenized U.S. equities (SPCX, MU, SNDK, DRAM) showed lower two-sided execution costs for $5k–$20k trades than the open market, despite minimal share of total volume. Benchmarking versus prevailing midpoints suggests competitive price formation and 24/5 liquidity. This strengthens the case for Solana as infrastructure for compliant, cross-asset onchain trading venues.
Impact level
● Medium
Affected assets
SOL/USDT-0.86%
AI Insight · SOL/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
A Solana on-chain propAMM market launched by Backpack and Sunrise reported lower execution costs than the open market for $5k–$20k spot trades in SPCX, MU, SNDK and DRAM from Jun 12 to Jul 20. The market showed 24/5 two-sided costs of 0.5 bps for $5k–$10k orders and 1.3 bps for $10k–$20k orders, versus about +1 bp in the open market. The venue accounts for roughly 0.015% of U.S. trading volume in the four stocks while offering continuous pricing and tighter execution.
