Bybit Announces Hybrid DEX ‘Byreal’ on Solana—CEX Liquidity Meets DeFi Power in $1.4B Pivot

dfmines Cryptocurrency News June 16, 2025 | 0

Key Takeaways:

Bybit launches ‘Byreal’, its first on-chain DEX on Solana, blending centralized liquidity with DeFi transparency.
Unique hybrid model: Combines CEX-grade RFQ speed with DeFi’s CLMM routing for low-slippage, MEV-protected swaps.
Strategic pivot: Comes after Bybit shut down multiple Web3 products following a $1.4B hack, signaling a leaner, more focused roadmap.

Bybit, one of the world’s leading crypto exchanges, is turning a new chapter in its Web3 playbook. The company has announced the upcoming launch of Byreal, its first decentralized exchange (DEX) built on the Solana blockchain—a bold move that signals its shift toward hybrid finance (HyFi). Byreal is set to go live with a testnet on June 30, while the mainnet is expected in Q3 2025.

Byreal: Bybit’s First Leap into Hybrid On-Chain Trading

Unlike typical decentralized exchanges, Byreal isn’t “just another DEX.” It merges the performance of centralized exchanges (CEX) with the transparency and self-custody of decentralized finance (DeFi). CEO Ben Zhou calls it “real hybrid finance,” setting it apart in an increasingly crowded DEX space.

This platform is natively built on Solana, known for its high throughput and low fees. Bybit chose Solana for its unmatched speed, allowing Byreal to execute near-instant trades while supporting scalable on-chain logic.

The engine behind Byreal is a dual routing model:

Request-for-Quote (RFQ): Offers traders guaranteed prices from liquidity providers, similar to what’s found on top-tier CEXs.
Concentrated Liquidity Market Maker (CLMM): A more capital-efficient DeFi-native system pioneered by Uniswap v3.

Together, this creates a unified liquidity layer that brings slippage close to zero and ensures that users are protected against Maximal Extractable Value (MEV)—a persistent vulnerability in many DeFi systems.

A Clean Slate After a Costly Crisis

The launch of Byreal follows a radical internal overhaul at Bybit. The exchange closed down the following Web3 features in May 2024:

Cloud Wallet and Keyless Wallet
NFT Marketplace and DEX Pro
Swap & Bridge functions
Web3 Points loyalty program
Fiat-to-crypto on-ramp and IDO services

These shutdowns were prompted by one of the most catastrophic events in cryptocurrency of the last year, a $1.4 billion security breach. One Up Media’s Bybit had to recalibrate its aspirations when it sustained the loss, focusing on cutting back and optimizing for its current goals of efficient, high-performance products, including Byreal.

Bybit is now focusing entirely on hybrid finance in an effort to control the nexus between CEX speed and DeFi trust rather than attempting to do everything.

The Launchpad, Yield Vaults & bbSOL Integration

In addition to the core trading platform, Byreal will be launching advanced DeFi infrastructure catering to the needs of retail and institutional users alike.

Fair Launchpad with Smart Price Ladder

The Byreal Launchpad bring to the table the Smart Price Ladder and Fairshare Engine, tools that are intended to reduce front-running and whale control. These also guarantee a fair distribution, by allowing (only) equality of opportunity for token launches, that is, to reward early but not particularly wealthy contributors.

Curated Yield Vaults

Yield hunters will be able to access a collection of curated vaults — starting with the Solana ecosystem tokens first. This entails bbSOL, Bybit’s Liquid Staking Token (LST) introduced in September 2024.

What is bbSOL?

A wrapped version of SOL designed for cross-platform staking.
Created with Solana-native partners: Sanctum, Kamino Finance, Orca, and Solayer.
Enables users to stake SOL through Bybit’s Web3 interface and receive bbSOL, which can then be deployed into vaults or used across DeFi protocols.

This mechanism bridges traditional users from Bybit’s Web2 UX into deeper Web3 participation—without compromising on liquidity or UX.

Strategic Timing and Market Position

The timing of Byreal’s launch is no accident. With DeFi TVL back on the rise and a renewed interest in Solana as an alternative to Ethereum, Bybit is placing a calculated bet. Solana’s ecosystem has shown resilience and regained traction after its FTX-linked reputational hit.

Bybit’s move to launch on Solana instead of Ethereum suggests a long-term alignment with high-performance Layer 1s that can support mass adoption. This is crucial as hybrid finance aims to onboard both retail users and institutions looking for compliance-ready transparency with institutional-grade performance.

What Sets Byreal Apart From Other DEXs?

Several hybrid or on-chain DEX attempts have surfaced over the past 12 months—Coinbase’s Base, Binance’s opBNB, and OKX’s DeFi product lines—but none have fully integrated CEX liquidity within a DEX environment. Most are layered rollups or sidechains offering limited on-chain visibility.

Byreal’s “from scratch” architecture, combined with its native Solana deployment, allows it to leapfrog past these half-measure models.

Notable differentiators include:

Unified Orderbook Depth: Instead of fragmenting liquidity between DEX and CEX, Byreal creates a shared depth pool, boosting efficiency.
MEV Resistance by Design: With native routing and quote protection, traders don’t need third-party bots or external aggregators.
CEX-DeFi Interoperability: Byreal seamlessly connects to existing Bybit accounts and infrastructure, giving users one login for both worlds.

What’s Next for Byreal and Hybrid Finance?

While the Byreal testnet drops June 30, expectations are already mounting for its mainnet deployment in Q3 2025. Industry watchers believe that if successful, this hybrid model could set the new blueprint for exchanges in a post-FTX world.

The post Bybit Announces Hybrid DEX ‘Byreal’ on Solana—CEX Liquidity Meets DeFi Power in $1.4B Pivot appeared first on CryptoNinjas.

Bybit Announces Hybrid DEX ‘Byreal’ on Solana—CEX Liquidity Meets DeFi Power in $1.4B Pivot