Crypto exchange Bybit has announced its plans to launch a new Solana-based decentralized exchange called Byreal in the third quarter, with a testnet version set to be released at the end of June. 🤯
In a recent X post, company CEO Ben Zhou shared that what sets Byreal apart is its unique combination of CEX (centralized exchange) and DEX synergy. “Byreal isn’t just another DEX,” he said, emphasizing that it offers “CEX-grade liquidity with DeFi-native transparency.” 💸
“This is what real hybrid finance looks like,” he added. The Byreal team also mentioned that the testnet will launch on June 30, with the mainnet following in Q3, 2025. 🚀
It’s official. Byreal is here.👋🏽
Incubated by @Bybit_Official, born on @Solana.
Byreal is a new onchain liquidity network for the next wave of assets — where real value is listed, discovered, and traded transparently.
Byreal built with advanced routing
Zhou explained that Byreal will have “unified liquidity and speed” and was designed with RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker) routing. “Byreal gives users low-slippage and MEV-protected swaps at serious speed,” he said. 🏃♂️
RFQ is when a buyer or seller requests quotes from one or more sources to find the best price. CLMM allows liquidity providers to concentrate their capital within specific price ranges where they expect trading to occur, creating much deeper liquidity around the current market price. 📈
Bybit DEX enters a crowded marketplace
The Bybit DEX is entering a competitive market for decentralized exchanges, with Uniswap leading the pack with a 24% share and $4.9 billion in total value locked, according to DefiLlama. Curve DEX and PancakeSwap follow with $1.9 billion and $1.7 billion in total value locked, respectively. DEX TVL is $20.3 billion, which is 75% down from its peak of $80 billion in November 2021. 📉
Solana DEX scene
While Solana has been primarily used to mint and trade memecoins, there are a number of decentralized exchanges on the network. The largest of which is Raydium, which has $1.7 billion in TVL and a 55% market share of the total locked on in the Solana ecosystem. Raydium usage surged in January when memecoin traders flocked to the DEX to trade tokens from Pump.fun marketplace; however, volume has tanked by 88% since then, reported DefiLlama. 📉
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2025-06-16 07:07