Bybit to Launch Byreal DEX On Solana With Hybrid CEX-DeFi Model
Bybit plans to launch its Solana-based decentralized exchange, Byreal, in Q3 2025, with a testnet version available by June 30, 2025. Byreal aims to integrate centralized exchange (CEX) and decentralized exchange (DEX) features, offering CEX-grade liquidity alongside DeFi-native transparency. The platform will utilize advanced routing methods, including Request for Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM), to provide low-slippage and MEV-protected swaps. Byreal enters a competitive DEX market dominated by Uniswap, which holds a 24% market share and $4.9 billion in total value locked (TVL). The overall DEX TVL is currently $20.3 billion, significantly down from its peak of $80 billion in November 2021. In the Solana ecosystem, Raydium is the largest DEX with $1.7 billion in TVL and a 55% market share, although its trading volume has decreased by 88% since January.
