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Bitcoinist 2025-06-17 04:00:53

Bybit Unveils Solana-Powered DEX Byreal with CEX-Grade Speed, Mainnet Coming Q3

Crypto exchange Bybit has announced the development of its first decentralized exchange, Byreal, built on the Solana blockchain. The platform is expected to enter testnet on June 30, with a mainnet launch planned for the third quarter of 2025. This marks a significant step for Bybit as it expands into decentralized finance (DeFi) infrastructure, aligning with broader market trends favoring transparency and decentralization . Hybrid Trading Model and New Features Bybit CEO Ben Zhou shared the update via social media, describing the new platform as a “hybrid model” that combines centralized exchange liquidity with “decentralized transparency.” The announcement comes at a time when decentralized exchanges (DEXs) are steadily increasing their share of global spot trading volume, indicating a shift in user preference towards non-custodial solutions. According to Zhou, Byreal incorporates features such as Request For Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing. These mechanisms are designed to provide users with reduced slippage and more transparent trade execution, often associated with higher-frequency trading strategies on centralized platforms. Bybit believes that such a setup allows for a more balanced and efficient market-making process within a decentralized framework. In addition to standard trading functions, Byreal will also support unique DeFi offerings, including a curated token launchpad and yield-generating vaults. The platform plans to offer access to assets such as bbSOL, a liquid staking derivative on Solana. This broader suite of services positions Byreal to compete not just with DEXs like Raydium or Orca but also with token launch and yield platforms built on Ethereum and BNB Chain. Lily Liu, president of the Solana Foundation, commented on the collaboration, emphasizing the potential for synergy between centralized and decentralized exchanges. She stated that the combination of liquidity from centralized exchanges and the global accessibility of DEXs contributes to the broader vision of an open financial market on the internet. Cex / Dex can work in harmony, and amplify one another. The asset diversity and global availability of a dex, plus the liquidity of a cex. Building internet capital markets means having asset and product venue diversity, all on the shared rails. We are excited to collaborate!… https://t.co/1Q75QWxsdw — Lily Liu (@calilyliu) June 15, 2025 Rising DEX Market Share and Solana’s Role Bybit’s move comes during a noticeable uptick in DEX activity. In May 2025, DEXs accounted for over 20% of the global spot trading volume, according to data from DefiLlama. PancakeSwap currently leads the market with $132 billion in monthly volume, and the total trading volume across DEXs stands at $405.88 billion. The growing popularity of these platforms signals increasing confidence in decentralized protocols for executing trades without intermediaries. The Solana network has played a significant role in this trend. As of June, Solana-based DEXs hold roughly $77.43 billion in monthly volume, with majority concentrated on Raydium. Featured image created with DALL-E, Chart from TradingView

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