Bybit unveils its first Solana DEX Byreal, mainnet launch slated for Q3
Crypto exchange Bybit announced the launch of its Solana-based decentralized exchange Byreal, set to go live on testnet on June 30 and scheduled for mainnet in the third quarter.
"Byreal isn't 'just another DEX,'" Bybit CEO Ben Zhou wrote on social media platform X on Sunday. "It’s combining CEX-grade liquidity with DeFi-native transparency. This is what real hybrid finance looks like."
Zhou explained that the DEX is designed with RFQ (Request For Quote) and CLMM (Concentrated Liquidity Market Maker) routing, claiming to offer traders low-slippage and manipulation-free swaps via more efficient and transparent market making systems.
The upcoming platform's own announcement provided more details on its offerings, including a smarter, more equitable token launchpad model and curated yield vaults on assets like bbSOL.
"CEX/DEX can work in harmony, and amplify one another," wrote Lily Liu, president of the Solana Foundation. "The asset diversity and global availability of a DEX, plus the liquidity of a CEX. Building internet capital markets means having asset and product venue diversity, all on the shared rails."
DEX all-time high
Bybit's introduction of Byreal comes amid a resurgence of DEXs, which collectively captured a 25% share of global spot trading volume compared to centralized exchanges last month, marking a record high.
According to DefiLlama data, DEXs saw a total monthly trading volume of $405.3 billion in May, led by PancakeSwap, which had $98.2 billion. Simon Kim, CEO of crypto venture capital Hashed, predicted that DEXs, the "core" of blockchain financial ecosystems, may overtake CEXs in trading volume in 2028.
As of Monday, DEXs had a total value locked of $20.7 billion, led by Uniswap and Curve. DEXs on Ethereum led in total value locked, followed by Solana-based DEXs with $3.3 billion in TVL, over half of which was held by Raydium.
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