Cryptocurrency exchange Bybit has unveiled Byreal, a new decentralized exchange (DEX) built on the Solana blockchain. This hybrid platform aims to merge the deep liquidity typically associated with centralized exchanges (CEX) with the transparency and self-custody benefits of decentralized finance (DeFi).
Byreal leverages Solana’s high throughput and low-latency architecture to tackle common DeFi challenges, including liquidity fragmentation and slow transaction speeds. The announcement triggered a positive market response, with Solana’s native token (SOL) experiencing a price increase of approximately 7%.
Bybit CEO Ben Zhou emphasized the platform’s core objective, stating Byreal is designed to deliver ‘CEX-grade liquidity with DeFi-native transparency.’ The move signifies a growing trend among centralized exchanges to explore decentralized solutions in response to evolving user demands for both efficiency and control over assets.
A testnet version of Byreal is slated for release later this month, followed by a mainnet launch planned for the third quarter. This development positions Bybit as a significant player bridging the traditional exchange model with the expanding DeFi ecosystem on Solana.