Bybit, one of the world’s leading centralized crypto exchanges, is preparing to enter the decentralized finance (DeFi) space with the launch of Byreal, its first on-chain trading platform.
The platform will go live on the Solana network, with its testnet debut set for June 30 and the mainnet launch expected in the third quarter of this year.
What is Bybit’s Byreal?
According to the exchange, the new platform is part of its broader ambition to bridge the gap between centralized and decentralized trading.
Byreal aims to offer users a seamless experience with CEX-level liquidity, rapid execution, and low slippage, all while preserving the transparency and autonomy native to DeFi.
Byreal incorporates features like Request for Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing to achieve this.
These tools are designed to shield users from maximal extractable value (MEV) attacks and provide more efficient price execution.
Byreal will also roll out innovative features to improve user access and token distribution. These include the “Reset Launch” mechanism, which uses Smart Price Laddering and the Faishare Engine to ensure fairer token allocations.
Additionally, the DEX will include a Revive Vault, offering curated yield opportunities for assets such as bbSOL and other Solana-based tokens.
Bybit CEO Ben Zhou described Byreal as a critical step in the company’s vision of hybrid finance—an emerging model that combines the advantages of centralized and decentralized exchanges.
Bybit’s move sets it apart from competitors like Coinbase and Kraken, which have concentrated efforts on Layer 2 solutions. Instead, Bybit is positioning Byreal to go head-to-head with leading DEX platforms such as Uniswap, PancakeSwap, and Hyperliquid.
Notably, the timing aligns with renewed interest in decentralized trading activities, which grew by more than 15% over the past week.
Decentralized Exchanges (DEXs) Trading Volume. Source: DeFillama
Meanwhile, Byreal reflects Bybit’s renewed focus on strengthening its core products, following the $1.4 billion security breach in February.
Beyond crypto, the exchange recently expanded its product suite to include US equities, commodities, and index trading.
