- Bybit is launching Byreal, a new decentralised exchange built on Solana, signalling a significant push into a hybrid finance model.
- Byreal aims to combine the deep liquidity of centralised exchanges with the transparency and control offered by decentralised finance.
Bybit has just announced a groundbreaking new venture, Byreal. It’s a new platform built on the high-speed Solana blockchain, representing Bybit’s most aggressive move yet into the world of decentralised finance (DeFi). This development suggests a broader shift in the crypto industry toward hybrid finance..
Byreal: Bridging Centralized and Decentralized Worlds
Byreal isn’t just another DEX. It’s combining CEX-grade liquidity with DeFi-native transparency,
stated Bybit CEO Ben Zhou in a press note released on June 15.
This sentiment, shared across his various announcements, highlights Byreal’s bold ambition, which is to merge the deep, readily available liquidity typically found on centralised exchanges (CEXs) like Bybit itself, with the crucial features of DeFi, such as verifiable transactions and the ability for users to maintain full control of their funds (self-custody).
Byreal is set to kick off its testnet phase by June 30, with a full mainnet launch planned for the third quarter of 2025. What makes this DEX stand out? According to early insights, Byreal uses a clever mix of trading approaches.
It combines RFQ (Request for Quote), where users ask for a specific price from market makers, with CLMM (Concentrated Liquidity Market Maker) routing, which allows liquidity providers to focus their funds within specific price ranges. This hybrid method is designed to tackle common problems for DeFi traders, such as slippage (when the actual trade price differs from the expected price), and to offer trades that are MEV-resistant (protected from certain front-running tactics by sophisticated traders).
The platform also plans to introduce innovative features like a Reset Launch mechanism, aimed at ensuring fair token launches, and a Revive Vault yield product, which is built around bbSOL, Bybit’s version of staked Solana.
The timing of Byreal’s arrival is particularly interesting, as DEX trading volumes are currently seeing a strong comeback. Recent weekly totals for decentralised exchanges have averaged over $10 billion for the first time since 2021, marking a significant 16% jump in activity, according to data from industry trackers.
Meanwhile, Solana itself has been on a roll. The blockchain has boasted a consistent 100% uptime throughout 2025 and has demonstrated impressive peak transaction speeds of over 65,000 transactions per second (TPS). These robust performance metrics make Solana an incredibly attractive and strategic foundation for building scalable, on-chain financial infrastructure.
Bybit’s decision to build its new DEX natively on Solana marks a pivotal moment for CeDeFi – the increasingly popular hybrid model that centralized exchanges are embracing. This approach allows them to keep user trust by offering familiar centralised services while also expanding their presence and offerings directly on the blockchain.
While many major centralised exchanges, like Coinbase, have been focusing their efforts on Ethereum Layer 2 solutions, Bybit’s choice to go the Solana route puts it on a distinct yet highly competitive path. This could potentially accelerate volume flipping, where decentralised trading volumes begin to consistently surpass those on centralised platforms.
This launch also serves as a kind of reputational reset for Bybit. Byreal is the first major product launch since Bybit experienced a significant $1.4 billion hack in February, an incident that forced the exchange to seek emergency liquidity from other major players like Binance and Bitget.
Despite its ambitious goals, there are still some unknowns surrounding Byreal. As of now, no audit partners have been publicly announced, and specific details about how Byreal plans to attract and manage its liquidity, especially from crucial market makers, have yet to be disclosed.
If Byreal manages to succeed, it could put significant pressure on established decentralised rivals like Uniswap and PancakeSwap, as well as centralised giants like Coinbase, prompting them to reconsider their narratives around decentralisation. However, if Byreal doesn’t live up to its promise, it might become a cautionary tale. Regardless of the outcome, one thing is certain: Bybit has placed a big bet, and Solana is a key player at the table.