Bybit, the world’s second-largest crypto derivatives alternate, has introduced the launch of Byreal, a decentralized alternate (DEX) constructed on Solana, marking its most aggressive push but into DeFi.
The transfer alerts a broader pivot towards hybrid finance, the place centralized liquidity meets decentralized transparency.
“Byreal isn’t ‘simply one other DEX.’ It’s combining CEX-grade liquidity with DeFi-native transparency,” tweeted CEO Ben Zhou in a press word launched on June 15.
The assertion, a part of a broader thread, emphasised Byreal’s ambition to mix the “CEX-grade liquidity” of Bybit with the auditability and self-custody of DeFi.
CeDeFi takes form
Byreal is ready to enter testnet by June 30, with a mainnet launch scheduled for Q3 2025. In keeping with CryptoBriefing’s unique first look, the DEX makes use of a mix of RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker) routing, aiming to supply slippage, MEV-resistant trades, deemed key ache factors for DeFi merchants.
The platform additionally introduces a novel “Reset Launch” mechanism for honest token launches and a Revive Vault yield product constructed round bbSOL, a Bybit-native model of staked Solana.
Byreal arrives at a time when DEX volumes are resurging: weekly totals just lately averaged above $10 billion for the primary time since 2021, a 16% spike in line with DeFiLlama.
In the meantime, Solana’s resurgence, buoyed by sustained 100% uptime in 2025 and peak transaction speeds over 65,000 TPS, makes it a strategic base layer for scalable on-chain infrastructure.
Why it issues
Bybit’s Solana-native DEX marks a watershed for CeDeFi, the more and more favored hybrid mannequin amongst exchanges looking for to retain consumer belief whereas increasing on-chain.
With main CEXs like Coinbase doubling down on Ethereum L2s, Bybit’s Solana route places it on a divergent but aggressive path, one that would speed up the quantity flippening between centralized and decentralized buying and selling.
It additionally marks a reputational reboot: Byreal is the primary main product launch since Bybit’s $1.4 billion hack in February, which pressured the alternate to hunt emergency liquidity from Binance and Bitget. Its in-house Web3 suite was shuttered shortly after. By transferring liquidity on-chain, Bybit seems to be making a play for innovation and belief.
The open questions & what’s subsequent
Regardless of its ambitions, a number of components stay unconfirmed: no audit companions have been introduced, and particulars on liquidity provisioning, particularly how Byreal will appeal to market makers, are but to be disclosed.
Regulatory remedy can be a looming wildcard. Whereas branded as a DEX, Byreal is incubated by a centralized alternate, elevating the likelihood that authorities should still think about it a custodial platform in disguise.
If Byreal succeeds, it might stress rivals like Uniswap, PancakeSwap, and Coinbase to rethink their decentralization narratives. If it fails, it could turn into a case examine within the limitations of CeDeFi when neither aspect of the hybrid is totally satisfied.
The guess is on, and Solana is on the desk.
