Bybit Introduces Byreal: A Revolutionary Decentralized Exchange on Solana
Renowned for its commitment to innovation, Bybit has made a strategic leap into decentralized finance by announcing its first decentralized exchange, Byreal. Built on the robust Solana blockchain, Byreal is set to enter its testnet phase on June 30, with a full mainnet launch anticipated in the third quarter of 2025. This initiative marks a pivotal moment for Bybit as it ventures into DeFi infrastructure, aligning with the market’s growing preference for transparency and decentralization.
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Innovative Hybrid Trading Model and Cutting-Edge Features
In an exciting update shared via social media, Bybit CEO Ben Zhou unveiled the development of Byreal, describing it as a “hybrid model” that effectively merges the liquidity of centralized exchanges with the transparency of decentralized systems. This announcement comes amidst a notable rise in the global spot trading volume captured by decentralized exchanges (DEXs), underscoring a shift toward non-custodial trading solutions.
Byreal is designed with unique features such as Request For Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing. These innovations aim to minimize slippage and enhance trade execution transparency, often preferred for high-frequency trading on centralized platforms. Bybit envisions this setup as a more balanced and efficient market-making process within a decentralized context. Besides standard trading functions, Byreal will offer exclusive DeFi services, including a curated token launchpad and yield-generating vaults.
The platform will provide access to assets like bbSOL, a liquid staking derivative on Solana. This comprehensive range of services positions Byreal as a competitor not only to DEXs like Raydium and Orca but also to token launch and yield platforms operating on Ethereum and BNB Chain. Lily Liu, president of the Solana Foundation, highlighted the potential synergy between centralized and decentralized exchanges, emphasizing that combining centralized exchange liquidity with the global reach of DEXs supports the broader vision of an open financial market online.
Increasing DEX Market Share and Solana’s Influence
Bybit’s strategic move coincides with a significant increase in DEX activity. In May 2025, decentralized exchanges accounted for over 20% of global spot trading volume, as reported by DefiLlama. PancakeSwap leads the market with a staggering $132 billion in monthly volume, contributing to a total trading volume of $405.88 billion across DEXs.
This surge in popularity demonstrates growing confidence in decentralized protocols for trade execution without intermediaries. The Solana network has been instrumental in this trend, with Solana-based DEXs achieving approximately $77.43 billion in monthly volume as of June, predominantly concentrated on Raydium. This highlights Solana’s pivotal role in the expanding DEX landscape.
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