- Byreal, Bybit’s new DEX on Solana, launches in Q3 2025 with CEX-level liquidity and on-chain transparency.
- It includes dual routing, yield vaults, and fair launch tools for smoother, more efficient DeFi trading.
Bybit, the global cryptocurrency exchange, is preparing to debut its first on‑chain decentralized exchange, Byreal, built atop the Solana blockchain. Set to enter testing on June 30 and targeting a mainnet launch in Q3 2025, Byreal aims to redefine trading by merging the liquidity advantages of centralized exchanges with the transparency of DeFi protocols.
Bybit’s CEO Ben Zhou is calling Byreal “real hybrid finance,” and honestly, that checks out. The whole idea is to mix the deep liquidity from a big centralized exchange with the openness and traceability from on-chain DeFi trading. Byreal’s architecture uses a dual routing system that combines RFQ (Request-for-Quote) with CLMM (Concentrated Liquidity Market Maker). That combo helps keep trades smooth and low on slippage, even when the network’s running hot.
With RFQ, traders can pull real-time quotes straight from liquidity providers. On the other hand, CLMM allows the same providers stack their liquidity closer to the current market price.
One of the biggest standouts of Byreal is its “Smart Price Ladder” launchpad, paired with a “Fairshare Engine” that’s built to keep token launches balanced and not totally dominated by whales. A key piece here is bbSOL, a liquid staking token on Solana that dropped back in September 2024. Byreal plugging in bbSOL shows how Bybit is trying to tie its core exchange with Web3-native tools, giving users more ways to earn and stay in the ecosystem.
Launch Timeline and a More Focused Direction
Byreal’s testnet goes live on June 30, with the mainnet lined up for sometime in Q3 2025, all accessible through its new hub at byreal.io. Back in May 2024, the exchange stepped away from a bunch of its Web3 side projects, like the cloud wallet, NFT marketplace, DEX Pro, and On-Ramp tools. That decision came not long after dealing with a major hack, and it looks like Bybit is using that moment to reset. Instead of spreading itself too thin, it’s cutting the extra stuff and locking in on building solid trading infrastructure and staying in its lane.
Solana’s DeFi game has been heating up, especially with big names like Kraken and Fidelity starting to show serious interest in building on the network. Solana’s also pulled off eight straight months of topping the dApp revenue charts, which shows there’s real momentum here. Byreal could be hitting the market right as Solana’s next wave starts to form.
Byreal is betting big on this idea of bringing a global CEX experience fully on-chain, blending speed, depth, and self-custody in one setup. What might get people interested is the mix of serious liquidity, open and traceable design, and a fresh take on how tokens get distributed.
If Byreal wants to make a real dent, it’ll need to hold strong liquidity, run smoother and cheaper than what Solana’s top DEXs already offer, and actually build trust around this hybrid model. If they pull it off, we might be looking at the start of a new kind of trading stack
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