Cryptocurrency exchange Bybit has announced the launch of Byreal, a new decentralised exchange (DEX) built on the Solana blockchain, and is set to debut its testnet on June 30, with a full mainnet release planned for the third quarter of 2025.
Byreal aims to bridge the gap between centralised and decentralised trading by merging the deep liquidity of centralised exchanges (CEXs) with the transparency of decentralised finance (DeFi).
Bybit’s CEO revealed the development in a social media post
In a social media statement on Sunday, Ben Zhou, CEO of Bybit, emphasised the platform’s hybrid approach, stating, “Byreal isn’t just another DEX. It’s combining CEX-grade liquidity with DeFi-native transparency. This is what real hybrid finance looks like.”
The exchange is designed to cater to both retail and institutional traders, offering low-slippage trades with protection against maximal extractable value (MEV) exploits.
Byreal’s system leverages Request for Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing technologies to optimise trading.
RFQ allows traders to request dynamic price quotes from multiple liquidity sources, a mechanism commonly used in over-the-counter (OTC) and institutional trading.
Meanwhile, CLMM—popularised by platforms like Uniswap V3—enables liquidity providers to concentrate their funds within a price range and create deeper liquidity around current market prices.
“Byreal gives users low-slippage and MEV-protected swaps at serious speed,” Zhou stated, noting the platform’s efficiency.
The DEX will also introduce a Reset Launch mechanism, a fair launchpad system featuring a smart price ladder and a Fairshare Engine to ensure equitable token distribution. Additionally, Byreal will offer Revive Vaults, curated DeFi yield products starting with bbSOL.
Bybit’s choice of Solana as the underlying blockchain underscores the network’s growing appeal for high-performance DeFi applications.
“We’re proud to work alongside Solana. Byreal is built to add new users, new assets, and new demand to the ecosystem,” the Byreal team noted, citing Solana’s transaction speed and scalability as key factors.
The launch of Byreal marks the company’s latest push into decentralised finance, following a broader industry trend where centralised exchanges like Coinbase and Binance are expanding into DeFi-native tools.
The move also comes after Bybit suffered a $1.4 billion Ethereum hack earlier this year, with half the stolen funds remaining untraceable.
Despite this setback, the exchange is doubling down on innovation, positioning Byreal as a next-generation liquidity network.
“Byreal is built to turn fragmented liquidity into unified opportunity,” the team declared, signalling its ambition to streamline decentralised trading.
With the testnet launch just days away, the crypto community will soon get a firsthand look at whether the new development can deliver on its promise of hybrid finance or struggle to stand out in an increasingly competitive market.
About Bybit
Bybit is a prominent cryptocurrency exchange that aims to bridge the gap between traditional finance and the crypto world.
The exchange was established in 2018, and it offers a range of trading services, including spot and derivatives trading, catering to both retail and institutional clients.
Bybit emphasises high performance, providing a robust trading engine designed for speed and reliability.
Beyond its core exchange functionalities, the company is expanding into the decentralised finance (DeFi) space and its upcoming hybrid DEX, Byreal, exemplifies this push.