PropAMMs Revisited: Curves, Latency and the Strange Resilience of Passive Liquidity

In my previous post on PropAMMs, I framed them as the next step in Ethereum’s trading-primitive evolution: a move from passive liquidity curves to programmable market makers, where pricing intelligence sits closer to execution. After listening to a deeper discussion between aPriori and Haikane, a couple more things clicked. PropAMMs...