Byreal, the new decentralized exchange platform based on Solana, promises to transform the DeFi market by combining the transparency typical of decentralized finance with the liquidity and speed of centralized platforms. The launch of the testnet is scheduled for June 30, while the mainnet is expected in the third quarter of 2025.
It’s official. Byreal is here.
Incubated by @Bybit_Official, born on @Solana.
Byreal is a new onchain liquidity network for the next wave of assets — where real value is listed, discovered, and traded transparently. pic.twitter.com/seDoKdZCKw
— Byreal (@byreal_io) June 15, 2025
Byreal: a bridge between CEX and DEX
The CEO of Bybit, Ben Zhou, announced via a post on X that Byreal will not be a DEX like all the others.
Annunciando Byreal — il nostro primo DEX onchain incubato da Bybit, sarà LIVE entro la fine del mese. Partendo da zero e ora nato su Solana. cosa c’è di speciale: 1/ Sinergia CEX + DEX Byreal non è “solo un altro DEX.” Sta combinando la liquidità di livello CEX con la trasparenza nativa DeFi.… https://t.co/JU60e4zHQ4
— Ben Zhou (@benbybit) 15 giugno 2025
The real innovation lies in the synergy between centralized exchanges (CEX) and decentralized exchanges (DEX), combining the best of both worlds. In particular, Byreal offers liquidity typical of CEX platforms with the transparency inherent in DeFi, thus providing an experience defined as “real hybrid finance”.
This combination aims to overcome some of the traditional limitations of DEX, such as poor liquidity and speed issues in transactions. Byreal extends the global on-chain exchange, thus providing users with an efficient platform without sacrificing security and decentralization.
Technical characteristics of Byreal: RFQ and CLMM
Byreal introduces two key mechanisms to optimize the quality of trades and liquidity management: RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker).
Richiesta di Offerta (RFQ)
RFQ is a system in which a buyer or seller can request quotes from multiple sources to identify the best available price. This feature represents a significant advantage for those looking to obtain favorable swaps with the least possible slippage in price, meaning the negative price variation between the order and execution.
Concentrated Liquidity Market Maker (CLMM)
CLMM allows liquidity providers to concentrate capital only in specific price ranges where they anticipate trading will be more intense. This creates much deeper liquidity around current market prices, improving trading efficiency and minimizing losses due to slippage.
According to Zhou, these tools guarantee users “low-slippage swaps protected from MEV (Maximal Extractable Value) with remarkable speed.”
The DEX market: competition and current data
The new DEX by Bybit enters a very competitive market, where the leaders are already established. Currently, Uniswap, the most well-known DEX, holds a market share of 24% and a total value locked (TVL) of about 4.9 billion dollars. Following are Curve DEX and PancakeSwap, which play an important role in the global DeFi landscape.
The total value locked in DEXs on the market amounts to about 20.3 billion dollars, a figure significantly down from the peak of 80 billion recorded in November 2021. This contraction reflects a period of consolidation and restraint in the sector, but also paves the way for new innovative proposals like Byreal, which aim to revive user interest by focusing on efficiency and new technologies.
The role of Solana in the DeFi world
Solana, so far known mainly for the minting and trading of memecoin, hosts several DEX that are attracting increasing attention from investors. The largest DEX on this network is Raydium, with a TVL of 1.7 billion dollars and a market share of 55% within the Solana ecosystem.
Despite the initial interest, the data shows how the trading volumes on the network have decreased: after a peak during the bull run of memecoins in January 2025, the volume has dropped by 88%, according to DefiLlama data. This decline highlights the need to innovate and offer solutions with greater appeal and functionality to win back users.
Byreal and the future of decentralized exchanges
The imminent launch of Byreal’s testnet and the subsequent mainnet represent a pivotal moment for the DeFi world, especially on Solana. Byreal aims to redefine the quality of decentralized trading experiences through the integration of centralized liquidity and advanced technological tools such as RFQ and CLMM.
As a result, Byreal might not only attract new users, but also directly influence the way DEX platforms operate, pushing towards greater efficiency and transparency. The integration of speed and protection from MEV attacks constitutes an added value that could prove decisive in a competitive landscape.
The coming weeks will be decisive for monitoring the evolution of Byreal’s testnet and verifying its real impact on the market. Favoring a hybrid finance between CEX and DEX could open new perspectives for investors and traders, enabling more efficient and secure exchanges.
For anyone interested in exploring innovative solutions in the field of digital assets, following the development of Byreal becomes essential. In a constantly changing sector, the ability to adapt and offer cutting-edge functionalities represents the key to success.
