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 put up on Sunday, firm chief government 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 appears like,” he mentioned.
“We’re constructing the onchain extension of a world alternate, combining CEX-grade liquidity with DeFi-native transparency,” mentioned the Byreal crew, including the testnet is launching on June 30 and mainnet shall 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 belongings — 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 could have “unified liquidity and pace” and was designed with RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker) routing.
“Byreal offers customers low-slippage and MEV-protected swaps at critical pace,” he mentioned.
RFQ is when a purchaser or vendor requests quotes from a number of sources to search out the perfect worth. CLMM permits liquidity suppliers to pay attention their capital inside particular worth ranges the place they count on buying and selling to happen, creating a lot deeper liquidity across the present market worth.
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 observe 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 variety 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 full 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; nonetheless, quantity has tanked by 88% since then, reported DefiLlama.
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