Bybit Reinvents DeFi with Byreal: A Hybrid Trading Platform Launching on Solana to Challenge Uniswap and PancakeSwap

Bybit Enters DeFi with Byreal on Solana to Blend Centralized Liquidity and Decentralised Trading

Bybit is moving deeper into decentralised finance with the announcement of Byreal, its first fully on-chain trading platform.

Set to debut on the Solana blockchain, Byreal’s testnet is scheduled for 30 June, with the mainnet rollout planned for the third quarter of 2025.

What Makes Byreal Different from Other Decentralised Exchanges?

Byreal is designed to merge the liquidity depth and speed of a centralized exchange (CEX) with the transparency and autonomy of DeFi.

This hybrid approach uses a combination of Request for Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing.

These mechanisms aim to deliver fast, low-slippage trades while protecting users from exploitative practices like maximal extractable value (MEV) attacks, a frequent concern in DeFi trading.

Ben Zhou, Bybit’s CEO, said,

“Byreal isn’t just another DEX. It’s combining CEX-grade liquidity with DeFi-native transparency. This is what real hybrid finance looks like.”

By offering institutional-grade liquidity combined with the openness of decentralized systems, Bybit intends to attract both retail traders and larger players.

Fair Launches and Yield Opportunities Built Into the Platform

To improve token distribution fairness, Byreal will feature a “Reset Launch” mechanism, integrating a Smart Price Ladder and a Fairshare Engine.

These tools aim to prevent large investors from dominating token allocations, promoting a more equitable launch experience.

Additionally, Byreal will introduce Revive Vaults—curated yield opportunities focused initially on bbSOL and other Solana-based tokens.

BbSOL is Bybit’s liquid staking token launched in late 2024, allowing users to earn staking rewards on SOL while retaining liquidity.

This reflects Bybit’s effort to strengthen staking options and promote interoperability within Solana’s ecosystem.

Why Solana Was Chosen and What It Means for Bybit

Bybit selected Solana for its renowned transaction speed and scalability, seeking to tap into a growing user base and asset ecosystem.

Solana currently ranks second in decentralised exchange volume globally, trailing only Binance Smart Chain, making it an attractive foundation for Bybit’s DeFi ambitions.

Bybit stated,

“We’re proud to work alongside Solana. Byreal is built to add new users, new assets, and new demand to the ecosystem.”

This partnership signals growing confidence in Solana’s infrastructure from large exchanges looking to expand into DeFi.

A Shift Toward Hybrid Finance Following Security Setbacks

Byreal’s launch follows Bybit’s strategic pivot after a significant $1.4 billion security breach earlier this year.

The exchange recently phased out multiple Web3 services, including wallets, NFT marketplaces, and earlier decentralised offerings, to focus on delivering stronger, hybrid finance products.

This move sets Bybit apart from peers such as Coinbase and Kraken, which have mostly concentrated on Layer 2 scaling solutions.

Instead, Bybit aims to challenge established DEX platforms like Uniswap and PancakeSwap by offering a blend of CEX liquidity and DeFi openness on-chain.

Could Byreal Change How Centralized Exchanges Approach DeFi?

Byreal embodies a wider trend of centralised exchanges seeking to bridge the gap with decentralised finance without sacrificing user experience or regulatory compliance.

Bybit’s approach to unify fragmented liquidity into a single, efficient system may influence how liquidity is sourced and utilised across the crypto space.

The platform’s hybrid model, paired with mechanisms to ensure fairness and protect users from MEV, addresses common DeFi criticisms around fairness and price manipulation.

Blending Liquidity and Transparency — But at What Cost?

As Bybit ventures deeper into on-chain trading, it challenges traditional boundaries between centralised and decentralised systems.

The success of Byreal could push the industry to rethink liquidity models, combining speed and trust in ways that neither model achieves alone.

But will hybrid finance deliver the best of both worlds or risk becoming a compromise that pleases neither camp fully?