Cryptocurrency exchange Bybit has unveiled its first on-chain decentralized exchange, Byreal, built on the Solana blockchain. The platform employs a hybrid routing system that integrates Request for Quote (RFQ) protocols with Concentrated Liquidity Market Maker (CLMM) technology, designed to reduce slippage and mitigate MEV attacks while merging centralized exchange liquidity pools with decentralized finance’s transparency.
Byreal aims to elevate Solana’s DeFi ecosystem by enhancing trading efficiency and liquidity depth, potentially increasing user adoption and Total Value Locked (TVL). This launch arrives as Solana maintains a market capitalization of approximately $77.44 billion with $2.15 billion in daily trading volume, with Byreal positioned to counter recent declines in network activity.
Bybit CEO Ben Zhou emphasized the platform’s ambition to establish new benchmarks for Solana-based DEXs through its low-slippage and MEV-resistant infrastructure. While the crypto community has expressed optimism regarding Byreal’s potential to strengthen Solana’s DeFi offerings, regulatory scrutiny of the hybrid model remains an open question.