On May 14, Pine Analytics released a report stating that Solana's DeFi ecosystem has shifted from an open, passive flow pool to a private execution of DEX. Although new DEXs such as SolFi, Obric v2 and ZeroFi do not operate front-end interfaces, they already process 40-65% of on-chain transactions through the aggregator Jupiter. These DEXs use four core designs: 1. Execution of transactions only through Jupiter aggregators;2. Pricing based on real-time oracle machines;3. Use private funds instead of public liquidity pools; and 4. Selective quotes based on inventory. This model effectively circumvents MEV attacks and toxic order flows, showing significant advantages in major trading pairs such as SOL and stablecoins. The current Solana architecture (single leader, MEV auction) puts public bids at a disadvantage, but upcoming upgrades such as concurrent leaders may change this. Although the private market-making model improves execution efficiency, it also reduces DeFi's openness and composability. This evolution reflects that the Solana ecosystem is gradually forming a unique liquidity supply method that matches its technological architecture.