Bybit reveals the carrier-driven dex byreal at CEX-level speed, mainnet arrives Q3
crypto exchange Bybit announced the development of its first decentralized exchange Byreal based on the Solana blockchain. The platform is expected to enter Testnet on June 30 and plans to conduct a main network in the third quarter of 2025.
This marks the expansion of BYBIT to decentralized financial (DEFI) infrastructure, consistent with broader market trends, and is more conducive to transparency and decentralization.
Mixed trading models and new features
Bybit CEO Ben Zhou shared the update via social media, describing the new platform as a “hybrid model” that combines centralized exchange liquidity with “dispersed transparency.”
The announcement comes at a time when the decentralized exchange (DEX) steadily increases global spot trading volume, which indicates a shift in user preferences for non-habitual solutions.
According to Zhou, byreal incorporates features such as Quotation Request (RFQ) and Centralized Liquidity Promoter (CLMM) routing.
These mechanisms are designed to provide users with reduced slippage and more transparent trade execution, often associated with high-frequency trading strategies on centralized platforms.
Bybit believes that this setup can carry out a more balanced and more effective marketing process within a decentralized framework. In addition to standard trading capabilities, Byreal will also support unique Defi products, including a well-curated token launcher and a vault that generates production.
The platform plans to provide access to assets such as liquids containing derivatives of BBSOL on Solana. This broader service location Byreal not only competes with Dex like Raydium or Orca, it can also use token publishing and earning platforms built with Ethereum and BNB chains.
Commentary on collaboration by Lily Liu, president of the Solana Foundation, highlights the synergy between centralized and decentralized communication.
The combination of liquidity from centralized communication and global access to DEX contributes to a broader vision of opening up financial markets on the Internet, she said.
CEX/DEX can work harmoniously and expand each other.
DEX’s asset diversity and global availability and CEX’s liquidity.
Building Internet Capital Markets means having asset and product site diversity, all on a shared track.
We are very happy to work together!
– Lily Liu (@calilyliu) June 15, 2025
DEX market share continues to rise and Solana’s role
Bybit’s move occurred during a significant upward trend in DEX activity. According to Defilama, in May 2025, DEX accounted for more than 20% of global spot trading volume. Pancakeswap currently leads the market with a monthly price of $132 billion, with the total transaction volume of DEX at $405.88 billion.
The growing popularity of these platforms has increased confidence in decentralized protocols that do not have intermediaries to execute transactions.
The Solana network plays an important role in this trend. As of June, Solana-based DEXS held approximately $77.43 billion per month, most of which was concentrated on Raydium.
Feature images created with DALL-E, TradingView’s chart
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