Bybit plans to launch the Decentralised Trading Platform based on Solana, Byreal, in the third quarter, with CEX and DEX advantages

Encrypted Currency ExchangeBybitIt was announced that it planned to release the new centralized trading platform for Solana in the third quarter, Byreal, and that the test version would be available at the end of June.

In a Sunday X post, Ben Zhou, the CEO of the company, added that the speciality of the new exchange was that it achieved synergies between CEX (Centralized Exchange) and DEX (Decentralized Exchange).

“Byreal is not just an ordinary DEX”, he said, adding that it combines “CEX level liquidity with deFi original transparency”.

“This is what real finance is like”, he said.

“We are building a global exchange to expand the chain, combining CEX-level liquidity and DeFi raw transparency”, the Byreal team said and noted that the testing network will be on line on 30 June and the main network will be launched in the third quarter of 2025.

Byreal used advanced router technology, Zhou stated that Byreal would have “unique liquidity and speed” and designed RFQ (request for quotations) and CLMM (centralized liquidity as a marketer).

“Byreal provides the user with a low-glide, MEV-protected fast-trading service”, he says.

RFQ means a buyer or seller requesting an offer from one or more sources to find the best price. CLMM allows liquidity providers to pool capital within the prices that they expect their transactions to occur, thus creating deeper liquidity around current market prices.

Bybit DEX entered the competitive market of the Decentralised Exchange and, according to DefiLlama, Uniswap, as market leader, accounted for 24 per cent of the market share and the total locked value of $4.9 billion.

Curve DEX and PancakeSwap followed with a total locked value of $1.9 billion and $1.7 billion, respectively.

The total lock value of the decentrized exchange (TVL) was $20.3 billion, a 75 per cent decrease from its peak of $80 billion in November 2021.

DEX scenes on Solana, although Solana is mainly used for casting and trading meme coins, there are a lot of go-to-centre exchanges on the network.

The largest of these is Raydium, which has $1.7 billion in TVL and a market share of 55 per cent of the total locked value of the entire Solana ecosystem.

According to DefiLlama, Raydium has experienced a surge in use as a result of the influx of meme currency traders in January, but since then the volume has fallen by 88 per cent.