Bybit, a well-known cryptocurrency exchange, has announced its entry into the decentralized finance market with the launch of Byreal, a new platform built on the Solana blockchain.
Byreal Combines Centralized and Decentralized Trading
According to Bybit’s co-founder and CEO Ben Zhou, Byreal employs a combination of two smart routing systems: Request for Quotation (RFQ) and Concentrated Liquidity Market Maker (CLMM). This combination allows users to obtain the best prices before executing trades while maintaining low transaction costs and price stability.
Byreal's Token Launch Platform
Token launches on Byreal will be made fairer for all users, thanks to tools like the Fairshare Engine and Smart Price Ladder. These mechanisms aim to prevent issues related to unethical practices by bots during token launches.
Byreal on Solana and Its Significance for DeFi
Byreal operates on Solana, one of the fastest blockchain networks. With over $1.5 billion in decentralized trading volume, Solana provides the necessary speed and power for Byreal. The project also includes the Revive Vault system, which offers yield options on tokens.
With the launch of Byreal, Bybit enters a crucial stage in its development, targeting users who prefer decentralized and transparent financial platforms.
