Bybit CEO hints at “CEX-grade” liquidity for its decentralized exchange, scheduled to launch later this year.
Bybit, a leading centralized cryptocurrency exchange, has announced its first decentralized exchange, Byreal.
Ben Zhou, co-founder and CEO of Bybit, posted on X that the CEX incubates Byreal and will launch on the Solana blockchain.
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.… https://t.co/JU60e4zHQ4
— Ben Zhou (@benbybit) June 15, 2025
Byreal’s testnet is scheduled to launch on June 30, with its mainnet to go live within Q3 2025.
Bybit’s CEO claims that the DEX will mix “CEX-grade” liquidity with the decentralized finance transparency to bring new users and assets on-chain. This is made possible with RFQ (Request for Quotation) and CLMM (Concentrated Liquidity Market Maker) hybrid routing.
In simple terms, RFQ asks for the best prices before making a trade, and CLMM helps keep prices stable and fair. It mixes the deep money pools of big exchanges with the open style of DeFi, so trades are cheaper for the users and technically harder for bots to mess with.
The DeFi Path for Bybit
Byreal’s launch indicates that Bybit is exploring its entry into the DeFi ecosystem.
The DEX will also feature a “fair” launchpad utilizing the Fairshare Engine, which ensures that big buyers don’t monopolize the tokens, giving everyone a fair chance to join.
This is similar to Pump.fun, a meme coin launchpad based on Solana, with a focus on “fair” launches. The platform brought a wave of rug pulls and scams due to its ease of use. Coinspeaker reported that 60% of the Pump.fun addresses are in loss.
If Bybit’s claims are true, Byreal could potentially reduce the number of meme coin-related scams on the Solana network.
Solana currently has the second-largest DEX volume, worth $1.56 billion, after BSC’s $3.62 billion, according to data from DefiLlama.
next