Bybit's CEO Ben Zhou Unveils Byreal: A Game-Changing On-Chain DEX Set to Launch on Solana!

Byreal: Blending CEX and DEX Like Never Before

Hold onto your hats, crypto fans! Bybit's CEO, Ben Zhou, just dropped a bombshell that's set to shake up the world of decentralized exchanges. Byreal, the exchange's very first incubated on-chain liquidity network, is gearing up to make its grand entrance by the end of June 2025. And get this—it's being built on the blazing-fast Solana (SOL) ecosystem!

Zhou took to social media to spill the beans, announcing that Byreal is not just another DEX. No, sir! This bad boy is bridging the gap between centralized exchanges (CEX) and decentralized exchanges (DEX) by harnessing the power of centralized liquidity while flaunting what Zhou calls "DeFi-native transparency." Talk about a hybrid powerhouse!

"Announcing Byreal — our first on-chain DEX incubated by Bybit, will be LIVE by the end of the month. Starting from scratch and now born on Solana," Zhou exclaimed in his post.

But wait, there's more! Zhou hinted at an upcoming product or feature that's set to further blur the lines between centralized and decentralized trading. Could it be integrated with Byreal? Only time will tell, but one thing's for sure: Bybit is not messing around!

Byreal's Beta Testing and Unmatched Liquidity

Get ready to roll up your sleeves, traders! Byreal's beta testing phase is slated to kick off within the month, giving you a chance to be among the first to experience this groundbreaking platform.

Zhou didn't stop there. He went on to emphasize how Byreal's platform is designed to deliver unified liquidity and lightning-fast processing speeds. And here's the secret sauce: the protocol's liquidity mechanism is built on a hybrid of RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker).

RFQ, typically used in pro-grade trading, lets market makers quote prices dynamically, leading to more efficient execution for those big-ticket trades. On the other hand, CLMM, popularized by Uniswap v3, allows liquidity providers to concentrate their capital within specific price ranges, making liquidity deeper where it counts.

By combining these two powerhouses, Byreal is poised to route trades based on optimal pricing with dynamic quote pricing. And Zhou promises that the protocol will offer users "low-slippage, MEV-protected swaps at serious speed." Buckle up, folks, because Byreal is about to take you on a wild ride!

But let's not forget the elephant in the room. Earlier this year, Bybit fell victim to one of the largest crypto heists in history, with hackers swiping a staggering $1.4 billion in Ethereum (ETH) from the exchange's reserves. And get this: on-chain data from the end of May showed that at least half of those stolen funds have vanished into thin air. Talk about a plot twist!