Bybit to Launch Byreal DEX On Solana With Hybrid CEX-DeFi Model

Crypto alternate Bybit has introduced that it goals to launch its new Solana-based decentralized alternate Byreal within the third quarter, with a testnet model popping out on the finish of June. 

In an  X submit on Sunday, firm chief govt Ben Zhou added that what makes the brand new alternate particular is that it has CEX (centralized alternate) and DEX synergy. 

“Byreal isn’t simply one other DEX,” he mentioned, including that it combines “CEX-grade liquidity with DeFi-native transparency.” 

“That is what actual hybrid finance seems like,” he mentioned. 

“We’re constructing the onchain extension of a worldwide alternate, combining CEX-grade liquidity with DeFi-native transparency,” mentioned the Byreal crew, including the testnet is launching on June 30 and mainnet will likely be coming in Q3, 2025.

It’s official. Byreal is right here.👋🏽

Incubated by @Bybit_Official, born on @Solana.

Byreal is a brand new onchain liquidity community for the subsequent wave of property — the place actual worth is listed, found, and traded transparently. pic.twitter.com/seDoKdZCKw

— Byreal (@byreal_io) June 15, 2025

Byreal constructed with superior routing

Zhou mentioned that Byreal may have “unified liquidity and velocity” and was designed with RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker) routing. 

“Byreal provides customers low-slippage and MEV-protected swaps at severe velocity,” he mentioned. 

RFQ is when a purchaser or vendor requests quotes from a number of sources to discover one of the best value. CLMM permits liquidity suppliers to focus their capital inside particular value ranges the place they count on buying and selling to happen, creating a lot deeper liquidity across the present market value.

Associated: Bybit denies $1.4M listing fee, school promo accusations on X

Bybit DEX enters a crowded market 

The Bybit DEX is coming into a aggressive marketplace for decentralized exchanges with Uniswap because the market chief with a 24% share and $4.9 billion in complete worth locked, according to DefiLlama. 

Curve DEX and PancakeSwap comply with with $1.9 billion and $1.7 billion in complete worth locked, respectively. 

DEX TVL is $20.3 billion, which is 75% down from its peak of $80 billion in November 2021. 

Solana DEX scene 

Whereas Solana has been primarily used to mint and commerce memecoins, there are a selection of decentralized exchanges on the community. 

The most important of which is Raydium, which has $1.7 billion in TVL and a 55% market share of the whole locked on within the Solana ecosystem.

Raydium utilization surged in January when memecoin merchants flocked to the DEX to commerce tokens from Pump.enjoyable market; nevertheless, quantity has tanked by 88% since then, reported DefiLlama. 

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