Daniel Walker
Crypto trading giant Bybit is stepping into the decentralized finance (DeFi) arena with the upcoming launch of Byreal, a decentralized exchange (DEX) built on Solana. The platform is slated to go live on testnet by June 30, with a mainnet debut scheduled for Q3 2025.
Bybit CEO Ben Zhou described the project on social media as more than a typical decentralized exchange. “Byreal combines centralized exchange (CEX) liquidity standards with DeFi transparency,” Zhou said. “This is hybrid finance in action.”
Next-Gen Infrastructure: Low Slippage, High Efficiency
Byreal is engineered to deliver a seamless trading experience, featuring advanced RFQ (Request For Quote) and CLMM (Concentrated Liquidity Market Maker) routing systems. These technologies aim to provide minimal slippage and resistance to manipulation, allowing users to execute trades under optimal market conditions.
The exchange will also feature an innovative token launchpad and curated yield vaults for Solana-native assets like bbSOL, enhancing opportunities for passive income and fairer token distribution.
“CEX and DEX models can reinforce each other,” commented Lily Liu, President of the Solana Foundation. “Decentralized trading platforms bring asset variety and global reach, while centralized systems contribute deep liquidity. Together, they power the future of internet capital markets.”
DEX Market Hits New Highs as DeFi Momentum Grows
Byreal’s debut aligns with a record-breaking month for decentralized exchanges, which accounted for 25% of global spot trading volume in May—an all-time high. According to DefiLlama, DEXs reached a combined $405.3 billion in trading volume, with PancakeSwap leading at $98.2 billion.
Simon Kim, CEO of Hashed, noted that DEXs are quickly becoming the backbone of blockchain finance, predicting that they could surpass centralized exchanges in total volume by 2028.
As of this week, DEX platforms hold a total value locked (TVL) of $20.7 billion, spearheaded by Uniswap and Curve. Ethereum-based DEXs lead the pack, followed by Solana DEXs with $3.3 billion in TVL, more than half of which is managed by Raydium.
