CEO of cryptocurrency exchange Bybit, Ben Zhou announced that its first onchain Solana-based decentralized exchange (DEX), Byreal and developed under the Bybit umbrella, is scheduled to go live by the end of the month.
Byreal introduces a model that integrates centralized exchange (CEX) and decentralized exchange (DEX) functions, aiming to combine the liquidity levels typically found in centralized platforms with the transparency associated with decentralized finance (DeFi) protocols. The project positions itself as an onchain extension of a global exchange infrastructure, representing a hybrid finance approach. Future projects incorporating both centralized and decentralized elements are expected to be launched under this initiative.
The platform is designed to operate in coordination with the Solana blockchain and aims to attract new users, assets, and overall market activity into the ecosystem. The stated objective is to increase capital flow, broaden asset diversity, and enhance transactional velocity.
It’s official. Byreal is here.
— Byreal (@byreal_io) June 15, 2025
Incubated by @Bybit_Official, born on @Solana.
Byreal is a new onchain liquidity network for the next wave of assets — where real value is listed, discovered, and traded transparently. pic.twitter.com/seDoKdZCKw
The DEX features a hybrid routing system that incorporates both Concentrated Liquidity Market Maker (CLMM) and Request for Quote (RFQ) mechanisms, intended to offer low-slippage and MEV-resistant transactions at high speed. Additionally, the Reset Launch component introduces a launchpad framework that employs a Smart Price Ladder in conjunction with a Fairshare Engine to support equitable asset distribution. The Revive Vault feature will provide access to curated yield-generating strategies, including offerings like bbSOL. Byreal is engineered to consolidate dispersed liquidity sources into a unified trading environment.
The testnet is scheduled to become available on June 30th, with the mainnet release planned for the third quarter of 2025.
Bybit Refocuses Strategy Following Security Breach
Bybit’s latest initiative comes in the aftermath of the company’s decision to terminate several of its Web3 services. This strategic shift follows a security incident and reflects an effort to simplify its operational structure while emphasizing more cohesive and efficient trading experiences.
Recently, the platform confirmed the discontinuation of all Web3 wallet functionalities, which include both the Cloud Wallet and the Non-Custodial Wallet.
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Source: Mpost.io
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