Whitepaper Reading Club: Multiple Concurrent Proposers + Rise of PropAMMs

Multiple Concurrent Proposers + The Rise of PropAMMs
1. Cadence Extreme Pipelining
Cadence redesigns BFT block production by replacing a single leader with multiple proposers running in parallel. Each slot reaches consensus independently, so it does not wait for earlier blocks or network delays. It is built on two parts: Chorus, a fast 3-round consensus protocol, and Conductor, which controls when new slots open. Cadence provides short-term censorship resistance, hides proposals until they are revealed, and keeps the same security (3f+1 validators) and low latency as single-leader systems. In simulations on Monad’s 200-validator network with 5 proposers per slot, it achieved 219 ms average finality (167 ms speculative) and 50 ms average transaction wait time with 100 ms block intervals.
This is part of Monad Blitz: https://luma.com/Blitz-Mumbai-Devcon-2026
2. How Market Makers Are Reshaping Cross-Chain Liquidity
Traditional AMMs, such as Uniswap, allow anyone to provide liquidity and earn trading fees. However, their prices typically update only when trades occur, leaving liquidity providers exposed to arbitrageurs who profit from outdated prices.
A new model, proprietary automated market makers (propAMMs), is changing this. Unlike traditional AMMs, propAMMs actively update prices without waiting for trades, allowing them to respond faster to market movements. By 2026, propAMMs accounted for more than half of SOL/USDC trading volume on Solana.
📝 The paper: Active Liquidity On Chain: Evidence from PropAMMs Across Chains (September 2026), was written by Ozan Solmaz (ETH Zurich), Lioba Heimbach (Category Labs), Jason Milionis (Category Labs)
Source: https://arxiv.org/pdf/2609.38056
Format
Short introduction and context setting to start.
A short walkthrough of the paper and its key ideas.
Questions and discussion grounded in the original source.
Moderator-led discussion with no promotions.

🧠 Session Guides:
Rongxin Zhang is the founder of Whitepaper Reading Club (WPRC). Previously, he lead Product at Cobo Custody, CKB, and was part of the founding team of Retsly, acquired by Zillow in 2015. He worked on decentarlized file storage research at Cornell Tech in 2017.
❤️ Monad Foundation
Monad is an institutional-grade blockchain built to power an open, global economy, enabling efficient money movement, tokenization, capital markets, and other financial applications. Built by a team from Jump Crypto.
Thank you Elton, and the team for always hosting us!!

About Whitepaper Reading Club
We are a community of founders, researchers, and builders across Singapore, Malaysia, San Francisco, Bangkok, New York, Lagos, Taipei, and Hong Kong. We meet in person every month to read, discuss, and pressure-test the latest blockchain papers, protocols, and technical ideas.
Learn more: Website · Summaries · Calendar
We create detailed, easy-to-understand summaries for each paper and have held 80+ sessions since June 2023, covering Account Abstraction, Parallel Chains, EIPs, the Bitcoin ecosystem, and AI x Crypto. We are ecosystem-agnostic, not for profit, and focused on projects with technical, product, or social innovation.