3 research updates published. Positive: 0 · Negative: 2 · Neutral: 1.
The solver-landscape concept page now covers three solver categories: market-maker solvers, algorithmic solvers, and the new Solana private-DEX tier. The taxonomy is useful for understanding where DEX fee capture actually accrues.
Jump Crypto data documented: BisonFi, HumidiFi, SolFi, Obric v2, and ZeroFi together processed ~$19.87B PropAMM volume in March 2026, matching the top-4-CEX aggregate on SOL dollar pairs. Toxic-flow dynamics mean the public AMM layer (Raydium, Orca) increasingly receives residual flow. This is the Solana variant of the Uniswap fee-switch problem and worth tracking for RAY / JUP revenue durability.
Explicit documentation of the April 2026 Kelp DAO LayerZero bridge exploit ($292M drained) and its second-order impact on Aave: $6.6B Aave TVL exited in 24 hours, $196M in bad debt accrued against the Umbrella reserve module. The risk-framework accountability angle: 98.5% of WETH collateral was LST-concentrated and the pool had priced continuous price risk correctly but not LST-correlated jump risk.