In an exciting development, crypto exchange Bybit has revealed plans for its inaugural decentralized exchange, named Byreal, leveraging the capabilities of the Solana blockchain. Set to enter its testnet phase on July 30, 2025, the mainnet is anticipated to launch later in Q3 2025.
This initiative highlights Bybit’s strategic move into the realm of decentralized finance (DeFi), reflecting a growing global trend toward enhancing transparency and user autonomy in financial transactions.
Innovations & Unique Selling Points
Bybit’s CEO, Ben Zhou, has shared insights about the upcoming platform, labeling it a “hybrid ecosystem” that merges the liquidity typically seen in centralized exchanges with the transparency offered by decentralized platforms.
This announcement comes at a crucial time, as decentralized exchanges (DEXs) are swiftly gaining traction and increasing their share of the global trading landscape, showcasing a definitive shift towards non-custodial trading solutions.
Byreal is designed to include innovative features such as Request For Quote (RFQ) systems and Concentrated Liquidity Market Maker (CLMM) routing methodologies.
These components are aimed at offering users minimized slippage and more straightforward trade executions, akin to strategies often found on centralized trading platforms.
Bybit’s framework intends to create a harmonized and efficient market-making approach within a decentralized context. Beyond conventional trading mechanisms, Byreal is also set to introduce specialized DeFi functions, including an exclusive token launchpad and yield-generating vaults.
Additionally, the platform is preparing to provide access to assets such as bbSOL, a liquid staking component on Solana. This diverse array of services positions Byreal favorably against other DEXs like PancakeSwap and Uniswap, as well as launch and yield platforms within the Ethereum and BNB Chain ecosystems.
Lily Liu, the president of the Solana Foundation, elaborated on this collaboration, highlighting the advantages stemming from the integration of centralized and decentralized exchanges.
She remarked that the synergy between centralized liquidity and decentralized accessibility is vital for realizing a truly open financial market on the internet.
Cex / Dex partnerships can fuel innovation and enhance user experience.
The diverse assets and global reach of DEXs, combined with the liquidity from CEX, create a comprehensive trading landscape.
The future of capital markets on the web relies on diverse asset offerings, all using shared technology.
We are thrilled to partner in this endeavor!…
— Lily Liu (@calilyliu) June 15, 2025
Market Dynamics and the Role of Solana
Bybit’s latest development occurs during a period of notable growth in the DEX market. As of May 2025, DEXs contributed to over 20% of the global spot trading volume, according to DefiLlama’s findings. Currently, PancakeSwap leads this burgeoning market, boasting an impressive $132 billion in monthly volume, with the overall trading volume across DEXs reaching $405.88 billion.
The increasing confidence in decentralized protocols has sparked a robust interest in trade executions that operate independently of typical intermediaries.
The Solana network is pivotal in this evolution. As of June, Solana-based DEXs are managing approximately $77.43 billion in monthly trading volume, primarily concentrated on Raydium.
Visual content generated utilizing DALL-E, with trading charts sourced from TradingView.
