Leading global cryptocurrency exchange Bybit has announced the launch of its first decentralized exchange (DEX), Byreal, built on the Solana blockchain. The testnet will go live on June 30, with a mainnet release expected in Q3 2025, the company revealed on Sunday.
A Hybrid Finance Vision
Bybit CEO Ben Zhou described Byreal as a “hybrid finance” (HyFi) solution designed to combine the deep liquidity of centralized exchanges (CEXs) with the transparency and user control of decentralized finance (DeFi).
“Byreal bridges centralized exchange-grade liquidity with the trustless nature of DeFi,” Zhou said. “It’s built for traders who demand both performance and transparency.”
Advanced Trading Infrastructure
Byreal will support RFQ (Request For Quote) and CLMM (Concentrated Liquidity Market Maker) routing mechanisms to provide low-slippage and manipulation-resistant token swaps. These features are designed to cater to both institutional and retail traders seeking efficient execution in the DeFi landscape.
Additionally, the platform will introduce:
- A revamped token launchpad, streamlining project onboarding
- Curated yield vaults, featuring Solana-native assets like bbSOL, to boost investor access to on-chain opportunities
Solana Foundation Endorses the Hybrid Approach
Lily Liu, President of the Solana Foundation, praised Bybit’s strategic move:
“DEXs and CEXs don’t need to compete—they can amplify one another. Byreal is an example of how innovation on Solana can power the next wave of financial infrastructure.”
DEX Momentum Grows
Bybit’s foray into decentralized finance comes as DEX platforms gain substantial market share. In May 2025, DEXs accounted for 25% of global spot trading volume, a record high, with $405.3 billion in monthly trading activity, according to DefiLlama. Leading the charge was PancakeSwap, with $98.2 billion in volume.
Simon Kim, CEO of venture firm Hashed, forecasts that DEXs could overtake CEXs by 2028 in terms of trading volume.Currently, $20.7 billion is locked in DEXs globally, with Solana-based platforms holding $3.3 billion, over half of which is managed by Raydium.
Bybit Expands Amid Regulatory Shifts
As regulators increase scrutiny on centralized exchanges, Bybit is positioning itself for the decentralized future. Byreal reflects the firm’s ambition to lead the next generation of crypto trading by delivering scalable, secure, and user-centric platforms on Solana’s high-speed network.
June 2025, Cryptoniteuae
