Bybit to Launch Byreal: A Hybrid Solana Exchange with Centralized Liquidity Features

The cryptocurrency exchange Bybit has announced the launch of Byreal—a hybrid decentralized exchange (DEX) that offers liquidity comparable to centralized platforms.

According to the company’s CEO, Ben Zhou, this trading platform built on Solana will feature fast transaction speeds and protections against MEV (Miner Extractable Value).

The testnet is expected to launch on June 30, with full deployment on the mainnet scheduled for the third quarter of the year.

Zhou explained that the new DEX employs a routing mechanism based on Request for Quotation (RFQ) and a Concentrated Liquidity Market Maker (CLMM) model. He noted that this architecture is efficient and minimizes slippage and market manipulation.

Additionally, plans are in place to introduce a «new-type» launchpad for tokens, as well as yield vaults for crypto assets like bbSOL.

The popularity of DEX is on the rise—non-custodial exchanges now account for more than 25% of trading volume compared to centralized exchanges (CEX), marking a record high.

In the past 30 days, the total volume on decentralized exchanges reached $405 billion. PancakeSwap has solidified its position as the leader in the sector, significantly outpacing its former rival Uniswap, with $132 billion compared to $93 billion, respectively.

Simon Kim, CEO of venture firm Hashed, speculated that by 2028, DEX will surpass CEX in trading volumes. He also referred to non-custodial platforms as the «core» of blockchain financial ecosystems.

As a reminder, in May, BNB Chain outperformed Ethereum and Solana in trading volume on decentralized exchanges.