Bybit has announced the launch of its first decentralized exchange Byreal, built on the Solana blockchain, with testing starting on June 30 and a planned launch in Q3 2025.
Overview of Byreal Decentralized Exchange
Byreal aims to combine the liquidity advantages of centralized exchanges with the transparency of DeFi protocols. Bybit CEO Ben Zhou describes Byreal as 'real hybrid finance', reflecting the core concept of the project.
Technological Features and Architecture
The architecture of Byreal employs a dual routing system that integrates RFQ (Request-for-Quote) with CLMM (Concentrated Liquidity Market Maker). This helps ensure smoother trades with minimal slippage. Through RFQ, traders can pull real-time quotes directly from liquidity providers, while CLMM allows those providers to concentrate their liquidity near the current market price.
Launch Strategy and Development Focus
Byreal's testnet is set to go live on June 30, with the mainnet scheduled for Q3 2025. Back in May 2024, Bybit stepped back from several of its Web3 projects, including cloud wallets and NFT marketplaces, to focus on building a solid trading infrastructure. This decision followed a significant hack, indicating the company's intent to concentrate its efforts on establishing a reliable trading environment.
Byreal aims to provide users with a new level of trading that blends liquidity, speed, and self-custody. The success of the platform will depend on its ability to maintain strong liquidity and build trust around this hybrid model.
