Gm! This week Chris Hermida joins the show to discuss the rise of prop AMMs & their impact on Solana. We deep dive into what are prop AMMs, how do they actually work, why order flow is so important & more. Enjoy!

--

Follow Chris: https://x.com/hermidao1

Follow Jack: https://x.com/whosknave

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe to the Lightspeed Newsletter: https://blockworks.co/newsletter/lightspeed

Join the Lightspeed Telegram: https://t.me/+QUl_ZOj2nMJlZTEx

--

Crypto’s premiere institutional conference returns to London in October 2025. Use code LIGHT100 for £100 off at checkout: https://blockworks.co/event/digital-asset-summit-2025-london

--

Katana is a DeFi-first chain built for deep liquidity and real yield, by redirecting chain revenue back to active DeFi users.

The 1 billion KAT campaign is live. Bridge and deposit directly into vaults in one simple click and start earning immediately on your ETH, BTC, USDC, and more. Go to app.katana.network to check it out.

--

Is your treasury losing value to inflation? Learn how to make digital assets like ETH and SOL productive with uncorrelated, protocol-driven staking rewards. A new report from Liquid Collective and EigenCloud outlines a practical guide for CFOs to integrate institutional-grade staking and restaking.

Read The Productive Treasury Report: https://liquidcollective.io/corporate-treasury-staking/

--

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

--

(00:00) Introduction

(03:07) What Are Prop AMMs?

(09:46) Katana Ad

(10:37) Eigenlayer Ad

(11:32) AMM Adoption On Solana

(23:27) How Do Prop AMMs Actually Work?

(25:50) How Will Prop AMMs Impact Solana DeFi?

(32:55) Katana Ad

(33:47) Eigenlayer Ad

(34:48) Why Order Flow Is So Important

(46:38) Liquidity & Volume Onchain

(51:27) Final Thoughts

--

Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation.