Bybit Launches Byreal Decentralized Exchange on Solana Blockchain

Crypto exchange Bybit has announced that it will launch Byreal, its first on-chain decentralized exchange (DEX), by the end of this month. The new platform, powered by Solana, aims to combine the best features of centralized exchanges (CEX) and decentralized finance (DeFi), a concept that Bybit CEO Ben Zhou refers to as “real hybrid finance.”

Byreal will feature a unified liquidity model that utilizes requesting-for-quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing. This model is designed to provide low-slippage trades and MEV protection while maintaining high transaction speeds. The platform will also include a fair launchpad model with Smart Price Ladder and Fairshare Engine, as well as curated yield vaults including bbSOL, a SOL-based Liquid Staking Token (LST).

Bybit launched bbSOL last September in collaboration with Solana ecosystem partners. The token was created to bridge Bybit’s CEX and web3 platforms, enabling users who stake SOL on Bybit Web3 to receive bbSOL tokens. Byreal’s testnet is planned to launch on June 30, with the mainnet deployment expected in Q3 2025. The platform will be accessible through byreal.io.

The launch of Byreal marks Bybit's entry into hybrid finance, with plans for future CEX and DEX project launches. This strategic move is aimed at diversifying Bybit's offerings and tapping into the growing demand for decentralized trading solutions. By leveraging the high-speed and low-cost transaction capabilities of the Solana blockchain, Bybit aims to offer users a seamless and efficient trading experience.

Byreal's on-chain nature ensures transparency and security, as all transactions are recorded on the blockchain. This feature is particularly appealing to users who prioritize decentralization and trustless systems. The platform's focus on real-world assets also opens up new opportunities for users to invest in a broader range of financial instruments, potentially attracting a wider audience to the DeFi ecosystem.

The launch of Byreal is expected to enhance Bybit's competitive position in the cryptocurrency market. By offering a decentralized trading platform, Bybit can cater to users who prefer the benefits of decentralized exchanges, such as reduced counterparty risk and greater control over their funds. This move also positions Bybit as a versatile player in the cryptocurrency space, capable of serving both centralized and decentralized trading needs.

Overall, the introduction of Byreal represents a strategic expansion for Bybit, leveraging the strengths of the Solana blockchain to provide a new on-chain liquidity network. This development is likely to attract more users to the Bybit ecosystem, further solidifying its position as a leading player in the cryptocurrency industry.