#Bybit builds on-chain trading platform#

Bybit CEO BEN recently shared his thoughts on on-chain trading platforms, arguing that the era of centralized exchanges (CEXs) is coming to an end, with decentralized exchanges (DEXs) set to dominate the future. He cited the recent meteoric rise of $TRUMP, a memecoin that generated over $30 billion in less than 10 hours, entirely through on-chain transactions, bypassing CEXs completely. He believes CEXs are failing to meet user demands for decentralized, free trading, while DEXs offer a safer, more transparent, and convenient trading experience. Consequently, Bybit will focus on building Onchain Bybit in 2025, heavily investing in the Bybit Web3 wallet, aiming to become the gateway for users into Web3.Many industry insiders echo BEN's sentiment, predicting the demise of CEXs and the rise of DEXs. They point to the increasing drawbacks of CEXs, such as high transaction fees, slow transaction speeds, and compromised user fund security. DEXs, on the other hand, address these issues with lower fees, faster transactions, and guaranteed user fund safety.However, some argue that CEXs retain significant advantages, including a superior user experience, a wider range of trading options, and stronger liquidity. While acknowledging the rapid growth of DEXs, they highlight existing challenges like user experience, limited trading assets, and insufficient liquidity. They believe CEXs will continue to exist and co-exist with DEXs.In conclusion, Bybit's move towards building an on-chain trading platform reflects industry trends and foreshadows a more intense competition between CEXs and DEXs. Ultimately, the platform that best meets user needs will emerge victorious.