The Crypto Exchange Bybit has announced that Solana -based new decentralized exchange is released in the third quarter, with a testnet version that will appear at the end of June.
In an X post on Sunday, the chief executive of the company Ben Zhou added That makes the new exchange of exchanges have CEX (centralized exchanges) and Dex Synergy.
“Byreal is not just another Dex,” he said, adding that it combines “CEX-grade liquidity with defi-native transparency.”
“This is what the true financial hybrid looks like,” he said.
“We are building an onchain extension of a global exchange, which combines CEX-grade’s liquidity with defi-native transparency,” said the Byreal team, adding testnet will be launched on June 30 and Mainnet is coming to Q3, 2025.
It’s official. Here is Byreal.👋🏽
Depressed by @Bybit_officialBorn in @Solana.
Byreal is a new network of Onchain Liquidity for the next wave of properties – where the true value is listed, discovered, and exchanged clearly. pic.twitter.com/sedokdzckw
– Byreal (@byreal_io) June 15, 2025
Byreal built using advanced route
Zhou said Byreal would have “cooked liquidity and speed” and designed along with RFQ (request for quote) and CLMM (concentrated manufacturer of liquidity market).
“BYREAL gives low-slippage users and MEV protected at severe speeds,” he said.
RFQ is when a buyer or seller requests quotes from one or more resources to find the best price. CLMM allows liquidity providers to focus on their capital within specific price ranges where they expect trading to take place, creating deeper liquidity around the current market price.
Related: Bybit declined the $ 1.4M list fee, School Promo accusations at X
Bybit Dex enters a crowded market
The Bybit Dex enters a competitive market for decentralized exchange of Underp As headed market with a 24% part and $ 4.9 billion in total amount locked, According to In Defillama.
Curve dex at Pancakeswap Follow with $ 1.9 billion and $ 1.7 billion in total amount locked, respectively.
Dex TVL was $ 20.3 billion, 75% down from the peak of $ 80 billion in November 2021.
Solana Dex Scene
While Solana is mainly used in mint and trade memecoins, there are a number of decentralized exchanges in the network.
The largest of which is Raydiumwith $ 1.7 billion on TVL and a 55% part of the total market locked in Solana’s ecosystem.
The use of Raydium grew stronger in January when Memecoin businessmen filed with Dex to trade tokens from the Pump.Fun Marketplace; However, the volume has been 88% since then, Defillama reported.
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