Bybit targets Q3 launch of new Solana-based DEX Byreal

Uncover insights within the DeFi area. This article dives into: “Bybit targets Q3 launch of new Solana-based DEX Byreal”.

Crypto change Bybit has introduced that it goals to launch its new Solana-based decentralized change Byreal within the third quarter, with a testnet model popping out on the finish of June. 

In an  X submit on Sunday, firm chief govt Ben Zhou added that what makes the new change particular is that it has CEX (centralized change) and DEX synergy. 

“Byreal isn’t just another DEX,” he mentioned, including that it combines “CEX-grade liquidity with DeFi-native transparency.” 

“This is what real hybrid finance looks like,” he mentioned. 

“We’re building the onchain extension of a global exchange, combining CEX-grade liquidity with DeFi-native transparency,” mentioned the Byreal group, including the testnet is launching on June 30 and mainnet can be coming in Q3, 2025.

It’s official. Byreal is right here.

Incubated by @Bybit_Official, born on @Solana.

Byreal is a new onchain liquidity community for the following wave of belongings — the place actual worth is listed, found, and traded transparently. pic.twitter.com/seDoKdZCKw

— Byreal (@byreal_io) June 15, 2025

Byreal constructed with superior routing

Zhou mentioned that Byreal could have “unified liquidity and speed” and was designed with RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker) routing. 

“Byreal gives users low-slippage and MEV-protected swaps at serious speed,” he mentioned. 

RFQ is when a purchaser or vendor requests quotes from a number of sources to search out the very best worth. CLMM permits liquidity suppliers to pay attention their capital inside particular worth ranges the place they anticipate buying and selling to happen, creating a lot deeper liquidity across the present market worth.

Related: Bybit denies $1.4M itemizing price, faculty promo accusations on X

Bybit DEX enters a crowded market 

The Bybit DEX is coming into a aggressive marketplace for decentralized exchanges with Uniswap because the market chief with a 24% share and $4.9 billion in whole worth locked, in line with DefiLlama. 

Curve DEX and PancakeSwap observe with $1.9 billion and $1.7 billion in whole worth locked, respectively. 

DEX TVL is $20.3 billion, which is 75% down from its peak of $80 billion in November 2021. 

DEX TVL has been flat for the previous 3 years. Source: DefiLlama

Solana DEX scene 

While Solana has been primarily used to mint and commerce memecoins, there are a variety of decentralized exchanges on the community. 

The largest of which is Raydium, which has $1.7 billion in TVL and a 55% market share of the full locked on within the Solana ecosystem.

Raydium utilization surged in January when memecoin merchants flocked to the DEX to commerce tokens from Pump.enjoyable market; nonetheless, quantity has tanked by 88% since then, reported DefiLlama. 

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