Bybit Launches Solana DEX: Byreal
Bybit Launches Solana-Powered Decentralized Exchange: Byreal
Bybit, a leading centralized cryptocurrency exchange, is expanding into decentralized finance (DeFi) with the launch of Byreal, its first on-chain trading platform. Built on the Solana network, Byreal aims to bridge the gap between centralized exchange (CEX) and decentralized exchange (DEX) trading.
Byreal's testnet launch is scheduled for June 30th, with the mainnet launch expected in Q3 2025. The platform aims to provide users with a seamless experience combining CEX-level liquidity, fast execution speeds, and low slippage, while retaining the transparency and autonomy inherent in DeFi.
Key Features of Byreal
- CEX-level Liquidity & Fast Execution: Byreal leverages innovative technologies to ensure high liquidity and rapid trade execution.
- Low Slippage: Minimizes the difference between the expected price and the actual execution price.
- MEV Protection: Utilizes Request for Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing to mitigate maximal extractable value (MEV) attacks.
- Innovative Token Distribution: Employs a "Reset Launch" mechanism with Smart Price Laddering and the Faishare Engine for fair token allocation.
- Revive Vault: Offers curated yield opportunities for assets like bbSOL and other Solana-based tokens.
Bybit CEO Ben Zhou views Byreal as a crucial step towards "hybrid finance," a model combining the benefits of CEXs and DEXs. This strategy differentiates Bybit from competitors like Coinbase and Kraken, who are focusing on Layer 2 solutions. Byreal positions Bybit to compete directly with established DEX platforms such as Uniswap, PancakeSwap, and Hyperliquid.
The launch coincides with a surge in decentralized trading activity, growing over 15% in the past week. This demonstrates a renewed interest in the DeFi space. Byreal also represents Bybit's commitment to strengthening its core offerings following a security breach earlier this year.
Note: Codeum, a blockchain security and development platform, offers services including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies. These services can help projects like Byreal ensure the security and success of their blockchain initiatives.
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