Bybit, a leading player in the centralised cryptocurrency exchange space, is making a strategic leap into decentralised finance (DeFi) with the announcement of Byreal, its first fully in-house developed decentralised exchange (DEX). Built on the high-performance Solana blockchain, Byreal is set to launch its mainnet in Q3 2025, with a testnet scheduled for release on 30 June 2025. This move marks a significant milestone in Bybit’s broader vision to bridge centralised and decentralised finance through a new model of hybrid trading infrastructure.
👉 Discover how hybrid exchanges are reshaping the future of crypto trading.
A New Era of On-Chain Liquidity
In a 14 June announcement, Bybit positioned Byreal not just as another DEX, but as a next-generation on-chain liquidity network designed to support emerging digital assets with real economic value. The platform aims to foster open listing and transparent trading, all executed directly on-chain. Unlike traditional decentralised exchanges that often struggle with liquidity fragmentation and slow execution, Byreal is engineered to deliver CEX-grade liquidity with full DeFi-native transparency.
This hybrid approach allows users to benefit from the speed and depth of centralised systems while retaining the trustless, permissionless nature of decentralised protocols. By integrating advanced routing mechanisms and liquidity models, Byreal seeks to become a scalable gateway for new users, capital inflows, and innovative token ecosystems.
Core Features Driving Efficiency and Fairness
Byreal’s architecture is built around performance, fairness, and user-centric innovation. It introduces several cutting-edge features designed to optimise trading efficiency, reduce slippage, and enhance yield opportunities:
- Hybrid Routing (RFQ + CLMM): Combines Request-for-Quote (RFQ) systems—commonly used in centralised markets—with Concentrated Liquidity Market Maker (CLMM) models native to DeFi. This hybrid model enables faster trade execution with minimal price impact.
- MEV Protection: Shields users from Miner Extractable Value (MEV) attacks, ensuring fair transaction ordering and execution.
- Reset Launch: A novel mechanism for fair and transparent token launches, preventing early bots and whales from dominating initial distributions.
- Smart Price Ladder: Dynamically adjusts pricing based on market depth and volatility, improving quote accuracy.
- Fairshare Engine: Distributes protocol fees and rewards more equitably among participants, incentivising long-term engagement.
- Revive Vault: Offers curated yield-generating strategies by leveraging underutilised or idle assets across DeFi.
- bbSOL Integration: Supports bbSOL, a liquid staking token that bridges centralised exchanges and DeFi, enabling seamless staking and trading across platforms.
These innovations collectively position Byreal as more than a trading venue—it’s an evolving financial layer designed for the next wave of Web3 adoption.
👉 Explore how liquid staking tokens are transforming DeFi accessibility.
Ben Zhou on Hybrid Finance: Bridging Two Worlds
Ben Zhou, co-founder and CEO of Bybit, confirmed that Byreal is the company’s first DEX developed entirely in-house. Emphasising its deep integration with Solana’s low-latency, high-throughput environment, Zhou described the project as “built from the ground up” to maximise performance and user experience.
Zhou has long championed the idea of hybrid finance (HyFi)—a middle path between centralised control and full decentralisation. He believes sustainable innovation lies in combining the best of both worlds: the liquidity and speed of centralised exchanges with the transparency and composability of decentralised protocols.
“Byreal represents the future of trading,” Zhou stated. “It’s fast, secure, and seamless—designed for both experienced traders and newcomers to DeFi.”
His vision aligns with growing industry recognition that rigid distinctions between CEX and DEX are blurring. As user expectations evolve, platforms that offer interoperability, security, and ease of use will lead the next phase of crypto adoption.
Solana’s Rising Role in Decentralised Trading
The launch of Byreal follows a strategic shift in Bybit’s Web3 strategy. In May 2025, the company wound down several Web3 services—including its Cloud Wallet, Keyless Wallet, and NFT marketplace—to focus resources on core innovations like Byreal.
This pivot underscores Bybit’s confidence in Solana as a foundational blockchain for scalable financial applications. While Solana has gained popularity for meme coins and high-speed transactions, its robust developer ecosystem and low fees are increasingly attracting serious financial infrastructure.
Currently, Raydium dominates Solana’s DEX landscape with approximately $1.8 billion in total value locked (TVL), according to DefiLlama. However, Byreal enters with a distinct advantage: access to Bybit’s vast user base and institutional-grade liquidity engine.
Lily Liu, President of the Solana Foundation, welcomed Bybit’s entry into the decentralised space. She highlighted that centralised and decentralised exchanges can coexist and complement each other. “Combining global reach, asset diversity, and strong liquidity can help build a more unified and efficient financial market,” she noted.
Why Solana?
- High throughput: Up to 65,000 transactions per second
- Low transaction costs: Averaging less than $0.001
- Growing DeFi ecosystem: Over 400 active projects
- Strong developer support: Active grants and tooling
By choosing Solana, Bybit ensures Byreal can scale efficiently while maintaining low barriers to entry—a critical factor for mass adoption.
👉 See how high-throughput blockchains are enabling next-gen DeFi apps.
Frequently Asked Questions (FAQ)
Q: What is Byreal?
A: Byreal is Bybit’s first decentralised exchange (DEX), built on Solana. It combines centralised exchange liquidity with decentralised finance transparency using a hybrid RFQ + CLMM model.
Q: When will Byreal launch?
A: The testnet launches on 30 June 2025, with the mainnet expected in Q3 2025.
Q: How does Byreal differ from other DEXs like Uniswap or Raydium?
A: Byreal integrates CEX-level liquidity routing with DeFi-native features like MEV protection and fair launch mechanisms, offering faster trades, lower slippage, and better user economics.
Q: What is bbSOL?
A: bbSOL is a liquid staking token that allows users to stake SOL tokens while retaining liquidity. It enables seamless movement between centralised exchanges and DeFi protocols.
Q: Is Byreal a competitor to Raydium?
A: Yes, it operates on Solana and targets similar use cases, but differentiates itself through hybrid architecture, deeper liquidity integration, and enhanced trading tools.
Q: Will Bybit users get early access to Byreal?
A: While no official details have been released, integrated platforms like Byreal often offer priority access or incentive programs for existing users.
The Road Ahead for Hybrid Finance
Bybit’s launch of Byreal signals a broader industry trend: the convergence of centralised and decentralised finance. As users demand more control, transparency, and yield opportunities, hybrid models like Byreal offer a compelling alternative to traditional siloed architectures.
With its Solana foundation, innovative feature set, and backing from one of crypto’s most established exchanges, Byreal is poised to become a major player in the evolving DEX landscape. Whether it can challenge leaders like Uniswap or redefine what a decentralised exchange can be remains to be seen—but one thing is clear: the future of trading is hybrid.
Keywords: Byreal, Solana DEX, hybrid finance, decentralised exchange, CEX liquidity, DeFi trading, bbSOL, MEV protection