Bybit incubates the DEX Byreal, and the decentralized game of CEX intensifies

Bybit incubates the DEX Byreal, and the decentralized game of CEX intensifies
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WIF-8.68%
BOME-6.14%

Written by: ChandlerZ, Foresight News

Recently, Bybit CEO Ben Zhou posted on the X platform, "Byreal, the first on-chain DEX incubated by Bybit, will go live at the end of this month. Born from scratch in the Solana ecosystem.

It pointed out that what makes Byreal special is that it is 1/ CEX + DEX synergy. Byreal is more than just "another DEX". It combines CEX-grade liquidity with DeFi-native transparency. This is true hybrid finance. More CEX + DEX projects are coming soon in the future. 2/ Uniform fluidity and velocity are designed with RFQ + CLMM routing. Byreal will provide users with low-slippage, MEV-protected swap transactions at supernatural speeds.

According to official information, the Byreal testnet will go live on June 30, and the mainnet is expected to be released in Q3.

Bybit isn't the first centralized exchange to venture into the DEX space. As decentralized exchanges continue to grow, DEXs are gradually narrowing the gap with CEXs in terms of liquidity and user activity.

The market share of DEXs has risen, and Solana has become one of the main choicesAccording

to DeFiLlama data, the trading volume of DEXs has maintained a steady growth trend. In May 2024, DEX monthly trading volume reached $405.3 billion, accounting for about 25% of the total global spot trade, a record high. At the same time, the total value of the DEX locked exceeded $20 billion.

In terms of blockchain distribution, Ethereum is still the dominant chain, with Solana in second place, with a TVL of about $3.3 billion, more than half of which is occupied by Raydium.

Bybit chose Solana as Byreal's underlying infrastructure based on its significant growth. In 2024, there will be a significant increase in activity on Meme token trading and on-chain token issuance platforms such as Pump.fun, pushing DEXs as the main channel for token IPOs. Mainstream meme assets, including WIF, BOME, BONK, etc., have formed initial liquidity on Solana DEXs such as Raydium and Jupiter, and have been launched on centralized exchanges one after another.

Solana has maintained high activity and developer growth over the past year, becoming one of the fastest-growing blockchains in the DEX ecosystem. Solana's average daily trading volume is stable at around 80 million, with a cumulative transaction of more than 30 billion, ranking among the top public chains. In contrast, Base and Sui have an average daily trading volume of around 7 million and 6 million transactions, respectively, and although they are relatively small, they are growing faster and have a high level of activity.

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