Bybit, known worldwide for his imprint in centralized crypto trading, is preparing to launch his first decentralized exchange (DEX), called Byreal. The platform is developed on Solana and must be posted in the third quarter of 2025. Before that, a Testnet version is scheduled for June 30.
In short
- Bybit launches a new decentralized exchange called Byreal, built on the Solana blockchain.
- The Testnet will be launched on June 30, 2025, with the full launch on the Mainnet provided for the T3 2025.
- Yreal combines CEX level liquidity with the native transparency of the DEFI, thanks to an RFQ + CLMM hybrid routing.
Bybit aims for a web3 expansion with the launch of Byreal Dex
In a post published on June 14, Byreal was described as a new generation on-chain liquidity network designed to take charge of a new wave of assets. The Exchange explained that the platform is built to support the open rating and the exchange of active ingredients with real value, all in a transparent on-chain environment.
The post specified that it was not simply another Dex, but rather an on-chain extension of its global exchange infrastructure. It seeks to combine the depth and liquidity of a centralized exchange (CEX) with the transparency and composibility of decentralized finance (DEFI).
Byreal was designed to integrate new users, introduce fresh capital, and widen the range of assets and trading activities available on-chain. The platform is structured to extend access and speed through the ecosystem by offering several features which aim to optimize the efficiency of trading and user experience.
Features and framework
Byreal introduces an architecture rich in functionalities aimed at improving the efficiency of decentralized trading while retaining the centralized infrastructure forces. Its design mixes speed, equity and accessibility, with a focus on the supply of reliable exchange executions and yield opportunities.
- It uses a hybrid structure combining the CLMM and RFQ models;
- Allows quick exchanges with little panty and protection against the MEV;
- Includes Reset Launch for distributions of fair and transparent tokens;
- Has an intelligent price scale and a FAIRSHARE engine;
- Revive Vault offer for selected return opportunities;
- Supports BBSOL, a liquid stoking token making the bridge between CEX and DEFI.
Ben Zhou on the construction of Byreal and hybrid finance
Ben Zhou, co -founder and managing director of Bybit, confirmed that Byreal is the first decentralized exchange developed entirely internally by the company. He explained that the project was built from zero and optimized for the high -speed environment and low cost of Solana.
Zhou has long defended the integration of traditional financial models with decentralized protocols. According to him, the most sustainable and scalable solutions are in an environment between fully centralized control and fully decentralized autonomy.
The CEO claims that Byreal is a real example of hybrid finance. It combines features from both centralized and decentralized systems. He also said that Byreal is designed for fast, secure and fluid trading.
Bybit and the future of decentralized trading in Solana
Byreal's development comes shortly after Bybit has reduced several of its existing web3 offers. Services such as its Cloud Wallet, Keyless Wallet, its NFT market place, and others were arrested, with a cessation of operations scheduled for the end of May 2025.
While Bybit has already consolidated its role in the space of centralized exchanges, the Dex market offers a competitive environment. Platforms like Uniswap continue to dominate the sector, holding around 24 % of the market share and managing a total locked value exceeding $ 5 billion, according to recent figures Defillama.
After Uniswap come from other powerful actors. Curve Dex holds approximately $ 1.9 billion of total locked value, while Raydium, based on Solana, holds about 1.8 billion.
Solana becomes an increasingly popular choice for decentralized applications. Although it is widely used for the development of the same corners, channel performance and development tools have also attracted more structured financial applications.
The most prominent Dex on Solana to date is Raydium, but Byreal is ready to introduce a new competitor in this ecosystem. Lily Liupresident of Solana Foundation, welcomed Bybit's entry into decentralized space.
She indicated that centralized and decentralized exchanges can be completed. According to Liu, combine the forces of the two models, such as global accessibility, the diversity of assets and the strong liquidity, can help build a more unified and effective financial market.
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