Byreal DEX Launches on Solana in Collaboration with Bybit
Bybit, in partnership with the Solana Foundation, has launched Byreal, a decentralized exchange (DEX) designed to enhance on-chain liquidity for tangible assets. The platform aims to create an open financial system accessible to all.
Key Features of Byreal
- Aims to redefine Decentralized Finance (DeFi) by prioritizing substance over superficial growth.
- Focuses on quality projects through curated listings and community-centric launch mechanisms.
- Offers centralized exchange (CEX) execution capabilities while maintaining DeFi principles.
- Plans to connect blue-chip and real-world assets leveraging Solana’s speed and composability.
CEO Ben Zhou emphasized that Byreal represents the future of trading by integrating CEX and DEX functionalities. The testnet is live, with a mainnet launch expected in Q3 2025.
Solana's Growing Popularity
Solana has been chosen by multiple projects, including Societe Generale, which recently launched a USD-pegged stablecoin on the platform. Following the Byreal announcement, SOL experienced a price increase of 7.83% but has since dipped by 2.50%, trading at $140.43. Analysts suggest Solana may need additional catalysts for sustained price growth.