Bybit Unveils Byreal: A Hybrid Solana Exchange with Centralized Liquidity

The cryptocurrency exchange Bybit has announced the launch of Byreal, a hybrid DEX that offers “liquidity comparable to centralized platforms.”

According to the company’s CEO, Ben Zhou, the trading platform, built on Solana, will be characterized by its high speed and protection against MEV (Maximal Extractable Value).

The testnet is expected to launch on June 30, while the mainnet deployment is planned for the third quarter.

Zhou explained that the new DEX will utilize an RFQ (Request for Quotation) routing mechanism and a CLMM (Concentrated Liquidity Market Maker) model. He noted that this architecture is efficient, minimizing slippage and market manipulation.

Additionally, there are plans to introduce a new type of launchpad for tokens, as well as yield vaults for crypto assets like bbSOL.

DEXs (decentralized exchanges) are gaining traction— the trading volume of non-custodial platforms has surpassed 25% of that of CEXs (centralized exchanges), marking a new record.

Over the past 30 days, the total trading volume of decentralized exchanges reached $405 billion.

PancakeSwap has firmly taken the lead, significantly outpacing its former competitor Uniswap, with $132 billion compared to Uniswap’s $93 billion.

Simon Kim, CEO of the venture firm Hashed, speculated that by 2028, DEXs will outstrip CEXs in trading volume. He also referred to non-custodial platforms as the “core” of financial ecosystems built on blockchain technology.

It’s worth noting that in May, BNB Chain surpassed both Ethereum and Solana in trading volume on decentralized exchanges.