It appears the winds of change are blowing through the hallowed halls of Bybit, that stalwart of centralized cryptocurrency exchanges. They’ve just announced their first foray into the wild world of decentralized exchanges with Byreal. How quaint.
Ben Zhou, Bybit’s fearless co-founder and CEO, took to X to proclaim the arrival of Byreal, incubated by Bybit and set to launch on the Solana blockchain. One can almost hear the champagne corks popping in the background.
Announcing Byreal — our first onchain DEX incubated by Bybit, will be LIVE by end of the month. Starting from scratch and now born on Solana. what’s special: 1/ CEX + DEX synergy Byreal isn’t “just another DEX.” It’s combining CEX-grade liquidity with DeFi-native transparency.…
— Ben Zhou (@benbybit) June 15, 2025
Byreal’s testnet is scheduled to make its debut on June 30, with the mainnet to follow within Q3 2025. One does hope they’re not rushing into things.
According to Bybit’s CEO, Byreal will be a thrilling mashup of “CEX-grade” liquidity and decentralized finance transparency, all made possible by the wizardry of RFQ (Request for Quotation) and CLMM (Concentrated Liquidity Market Maker) hybrid routing. How’s that for a mouthful?
In simpler terms, RFQ is rather like asking around for the best prices before making a trade, while CLMM helps keep prices stable and fair. It’s a bit like combining the deep pockets of big exchanges with the free-spirited nature of DeFi, making trades cheaper for users and more difficult for those pesky bots to manipulate.
Now, it seems Byreal’s launch is a clear indication that Bybit is dipping its toes into the DeFi ecosystem. How exciting.
The DEX will also feature a “fair” launchpad, utilizing the Fairshare Engine, which ensures that big buyers don’t hog all the tokens, giving everyone a fair chance to join in on the fun. How delightfully…democratic.
This does bring to mind Pump.fun, that Solana-based meme coin launchpad with a focus on “fair” launches. Alas, the platform was rather plagued by rug pulls and scams due to its ease of use. Coinspeaker reported that a whopping 60% of Pump.fun addresses are in loss. Oh dear.
If Bybit’s claims are true, Byreal might just be the hero the Solana network needs to reduce the number of meme coin-related scams. Fingers crossed, old chap.
After all, Solana currently boasts the second-largest DEX volume, worth a tidy $1.56 billion, after BSC’s $3.62 billion, according to data from DefiLlama. Rather impressive, if I do say so myself.
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2025-06-15 18:39