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Bybit Unveils Solana-Powered DEX Byreal with CEX-Grade Speed, Mainnet Coming Q3
- Crypto exchange Bybit introduces its first decentralized exchange, Byreal, running on the Solana blockchain.
- Byreal is set to start testnet operations on June 30, with a full mainnet launch anticipated in Q3 of 2025.
- Bybit's move into decentralized finance (DeFi) with Byreal aligns with the current trend towards transparency and decentralization in the market.
- Bybit CEO Ben Zhou describes Byreal as a hybrid model blending centralized exchange liquidity with decentralized transparency.
- Byreal incorporates features like Request For Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing to enhance trading efficiency and transparency.
- The platform aims to offer a curated token launchpad, yield-generating vaults, and support for assets like bbSOL, a liquid staking derivative on Solana.
- Byreal's strategy positions it to compete with DEXs like Raydium and launch platforms on Ethereum and BNB Chain.
- Solana Foundation president Lily Liu highlights the potential synergy between centralized exchanges' liquidity and decentralized exchanges' global accessibility.
- Data from May 2025 shows DEXs accounting for over 20% of the global spot trading volume, with Solana-based DEXs contributing significantly to this trend.
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