January 11, 2026

1 Year After Leaving Ethereum For Solana w/ Max Resnick

1 hour 8 minutes

Max Resnick, Lead Economist at Anza, joins Gwart to talk about optimizing Solana for financial markets. He discusses the shift from Ethereum, the mechanics of MCP to stop censorship, and how "ACE" (Application Control Execution) empowers apps. Max discusses dominance of Prop AMMs, the controversy around block packing, and how Solana plans to compete with Hyperliquid in the perp market.

Notes:

- Binance retail fee is ~10 basis points
- Prop AMM execution gap up to 10 bps
- Humidify quotes 0.1 bps spreads

Timestamps:
00:00 Start
00:28 Anza experience
02:10 What's Max working on?
05:41 New respect for development
08:42 MCP > MEV
12:33 Validators & toxic flow
15:14 MCP status
16:32 Writing code
18:20 ACE
21:30 Taker speed bump & Hyperliquid
23:47 Oracle updates
24:13 On-chain co-location
26:38 Priority fee
27:01 Deny list
28:23 Tighter than Binance
33:18 Spreads
36:23 Prop AMM winners
38:33 SEP & Solana
40:40 MEV report
44:55 User costs of MEV
47:26 Block time reduction
50:30 Transaction packing
58:45 Prop AMMs & breaking composability
1:01:23 Hyperliquid
1:03:48 Solona slipping on Perps

The Gwart Show is sponsored by Ellipsis Labs. Backed by Paradigm, Electric Capital and Haun Ventures. The founders, Eugene and Jerry, have experienced Citadel Jane Street in the Solana Core team since launching their order book DEX, Phoenix. They’ve done over $80 billion in trading volume by making onchain order books competitive with centralized exchanges.

Ellipsis is hiring for New York-based engineers. Work with a small focus team who are results driven, collaborative, and use a modern stack. If you’re an engineer who wants to work on infrastructure that’s already proven itself in the market, go to ⁠⁠ellipsislabs.xyz⁠⁠.

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