Cryptocurrency exchange Bybit has unveiled plans for Byreal, a hybrid decentralized exchange (DEX) set to launch on the Solana blockchain. Byreal aims to merge the deep liquidity typically found on centralized exchanges (CEX) with the transparency and self-custody benefits of decentralized finance (DeFi).
The platform is designed to address common DEX challenges, specifically liquidity fragmentation and high slippage. To achieve this, Byreal will utilize advanced routing technologies, including Request-for-Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) mechanisms. These technologies are intended to minimize slippage and provide protection against Maximal Extractable Value (MEV) attacks.
Bybit has chosen Solana as the foundation for Byreal, citing the network’s high throughput capabilities and low transaction fees as key advantages for a seamless trading experience. Development is progressing towards a testnet launch this month, with the mainnet release targeted for the third quarter of 2025.
The DEX market remains highly competitive, currently dominated by platforms like Uniswap which holds an estimated 24% market share. Byreal’s hybrid approach, combining CEX liquidity depth with DEX principles, is positioned as a potential differentiator in this crowded space.
Ben Zhou, CEO of Bybit, characterized Byreal as ‘the onchain extension of a global exchange,’ highlighting its role in bridging the traditional finance world with the decentralized ecosystem.