Byreal Combines CEX Liquidity with DEX Transparency
Crypto exchange Bybit is entering the DeFi space with the launch of Byreal, a decentralized exchange (DEX) built on the Solana network. Announced by CEO Ben Zhou, Byreal aims to merge centralized exchange-grade liquidity with the transparency and self-custody of DeFi.
The platform is set to launch its testnet on June 30, with the mainnet expected in Q3 2025.
“Byreal isn’t just another DEX. It’s real hybrid finance — fast, transparent, and powered by unified liquidity,” Zhou stated.
Byreal will use a Request-for-Quote (RFQ) model and Concentrated Liquidity Market Maker (CLMM) routing to reduce slippage and defend against MEV attacks, bringing the efficiency of CEXs to the DeFi space.
Strategic Shift After $1.4B Hack
Byreal’s launch reflects Bybit’s strategic shift from broader Web3 tools to core financial services, following a massive $1.4 billion security breach. Recent product rollouts include gold trading, forex, and US stock trading via USDT, positioning Bybit as a one-stop finance platform.
This shift also saw the shutdown of its NFT marketplace, Cloud Wallet, and other Web3 offerings. Still, Bybit’s momentum is growing — it now boasts over 70 million users and recently secured a MiCAR license in Austria, enabling fully compliant operations in the European Union.
Solana Sees Institutional Tailwind
Byreal’s choice to build on Solana is a significant vote of confidence in the high-speed blockchain. Solana has seen surging institutional adoption, with players like Fidelity, Kraken, and Franklin Templeton choosing the network for new offerings.
As the memecoin boom cools, Solana is increasingly being recognized for serious financial products. Byreal’s launch could further boost Solana’s relevance by driving new users, capital, and demand into the ecosystem.
“More capital. More assets. More velocity — for all,” said the Byreal team in a statement.
Could Byreal Challenge Uniswap and Hyperliquid?
While Byreal’s full features — especially regarding derivatives — remain unconfirmed, its hybrid liquidity model could help it compete in both spot and perpetual DEX markets. With Hyperliquid capturing 80% of all on-chain derivatives volume in May, the competition is heating up fast.