Cryptocurrency exchange Bybit announced the launch of Byreal, its first on-chain decentralized exchange built on the Solana blockchain, with a testnet release scheduled for June 30, 2025.
The platform aims to combine the liquidity of centralized exchanges with the transparency of decentralized finance, according to a June 15 announcement shared by SolanaFloor on social media platform X.
Byreal will leverage Solana’s infrastructure, which processes up to 50,000 transactions per second, to offer efficient trade execution through a hybrid system combining Request for Quote and Concentrated Liquidity Market Maker mechanisms. These technologies are designed to reduce slippage and protect against Miner Extractable Value attacks.
The launch follows a challenging period for Bybit, which shut down several web3 services in May 2025, including its Cloud Wallet and NFT marketplace, after a $1.4 billion hack earlier this year, according to CoinMarketCap.
Bybit CEO Ben Zhou described the platform as “real hybrid finance” in a social media post, highlighting its ability to blend centralized exchange liquidity with decentralized trading environments.
Solana has emerged as a major DeFi hub, hosting 81% of all decentralized exchange transactions according to a recent Electric Capital report. The blockchain features 400-millisecond block times and transaction fees under $0.0025.
Byreal will include a launchpad and yield vaults, including bbSOL, a Solana-based Liquid Staking Token launched in September 2024 in collaboration with ecosystem partners Sanctum and Orca.
The platform’s mainnet deployment is expected in the third quarter of 2025, Research from the 2022 ACM CCS Workshop on DeFi suggests Concentrated Liquidity Market Makers can boost liquidity provider returns by up to 30% compared to traditional Automated Market Makers.
The development comes as the European Union’s Markets in Crypto-Assets regulation takes effect in 2025, standardizing crypto operations across its 27 member states.
More information is available at byreal.io.
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