Bybit is stepping into the on-chain space with Byreal, a new decentralized exchange built on Solana. The testnet goes live June 30, with a full launch expected later this year.
According to the company, Byreal is designed to operate as a hybrid liquidity network that merges the depth of centralized exchange (CEX) markets with decentralized finance (DeFi) mechanisms.
It will incorporate RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker) routing to facilitate low-slippage and MEV-protected trades.
“Byreal isn’t just another DEX,” said Ben Zhou, CEO of Bybit, in a statement on social media. “It’s combining CEX-grade liquidity with DeFi-native transparency. This is what real hybrid finance looks like.”
The DEX is also introducing a Reset Launch mechanism: a fair launchpad system built with a smart price ladder and what it calls a “Fairshare Engine.” Additionally, the platform will host Revive Vaults, curated DeFi yield products starting with bbSOL.
Byreal is being built as a new on-chain layer where actual, high-demand assets can be traded with deep liquidity. Bybit says it’s meant for both regular users and bigger institutional players. The move also reflects a growing trend, more centralized exchanges are finding ways to tap into DeFi while still keeping things accessible and compliant.
“Byreal is built to turn fragmented liquidity into unified opportunity,” Byreal stated.
The move also highlights Solana’s growing role as an infrastructure partner for major exchanges. Bybit said it chose Solana for its transaction speed and scalability, aiming to reach a broader set of users and assets within the Solana ecosystem.
“We’re proud to work alongside Solana. Byreal is built to add new users, new assets, and new demand to the ecosystem,” Byreal added.
The announcement follows a wave of hybrid product developments in the crypto industry as exchanges look to balance performance, transparency, and on-chain verification. Other centralized players, including Coinbase and Binance, have also expanded into DeFi-native tools and networks.
Byreal’s testnet launch is expected at the end of June, with further developments to follow in Q3 as it moves into mainnet operations.
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