The Compressed Baryonic Matter (CBM) experiment aims at exploring
the QCD phase diagram at large baryon densities in the beam kinetic energy range
from $2\,\mathrm{A\,GeV}$ to $11(40)\,\mathrm{A\,GeV}$ (corresponding to center-of-mass energies of $ 2.7<\sqrt{s_{\mathrm{NN}}}<4.9(8.9)\,\mathrm{GeV}$) at the SIS-100 (SIS-300)
accelerator of
FAIR/GSI. The CBM detector is designed to measure in a triggerless readout
mode both bulk observables with large acceptance and rare diagnostic probes
such as charmed particles and vector mesons decaying into lepton pairs with
an unprecedented interaction rate of up to $10\,\mathrm{MHz}$. This contribution
describes the concept of the experiment and its overall physics program and
highlights observables that are sensitive to the phase structure like
multi-strange hyperons.