On June 30, 2025, Bybit announced the development of Byreal, its first decentralized exchange, built on the Solana blockchain (Source: Trusted Editorial content). The mainnet launch is slated for the third quarter of 2025.
This move signifies Bybit's expansion into decentralized finance (DeFi), aligning with the market's shift towards transparency and decentralization. Bybit CEO Ben Zhou described Byreal as a "hybrid model" combining centralized exchange liquidity with "decentralized transparency."
The platform will incorporate features like Request For Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing, aiming to reduce slippage and enhance trade execution. Byreal will also support DeFi offerings, including a token launchpad and yield-generating vaults.
In May 2025, decentralized exchanges (DEXs) accounted for over 20% of the global spot trading volume, according to DefiLlama. PancakeSwap leads with $132 billion in monthly volume, and the total DEX trading volume reached $405.88 billion. Solana-based DEXs hold approximately $77.43 billion in monthly volume as of June.