As centralized exchanges face mounting pressure to decentralize, Bybit is taking a bold leap into the DeFi space with the launch of its new decentralized exchange, ByReal. Incubated directly by Bybit and built on Solana, ByReal promises to bridge the gap between the efficiency of CEX platforms and the transparency of DeFi.
But is this just another DEX — or the beginning of something much bigger?
Announcement: ByReal Goes Live, With a Hybrid Edge
On June 15, Bybit CEO Ben Zhou announced the debut of ByReal, calling it “the first on-chain DEX from scratch” under Bybit’s umbrella. What sets it apart isn’t just the branding — it’s the hybrid model.
ByReal combines:
- CEX-grade liquidity
- DeFi-native transparency
- RFQ and CLMM routing
- Low slippage, MEV-protected swaps
The goal? Deliver real-time trading for real assets, without sacrificing decentralization. According to Zhou, this is what hybrid finance — or HyFi — is supposed to look like.
Why Solana?
ByReal is Solana-native, and that matters.
Solana has rapidly reclaimed its place as a dominant Layer 1 blockchain for high-speed applications. Its ultra-low fees, millisecond finality, and growing DeFi ecosystem make it the ideal foundation for a product like ByReal, which needs both speed and scale to succeed.
Choosing Solana also strategically aligns Bybit with a chain that’s surging in both developer activity and total value locked.
TVL Is Recovering — and Timing Is Everything
The launch comes as DeFi total value locked (TVL) across chains steadily climbs back above $55B, according to DeFiLlama. Solana’s own DeFi ecosystem has seen meaningful inflows in recent months, showing that users are returning — but they’re demanding better tools.
Source: DeFiLlama
ByReal could offer exactly that. With its hybrid liquidity infrastructure, the platform is aiming to serve pro traders, DAOs, and Web3 funds all in one place.
Final Thoughts: A Real DEX for Real Traders?
ByReal is designed for the next wave of on-chain assets, where transparency meets performance. If adoption follows and liquidity deepens, it could become a blueprint for other exchanges looking to blend the best of both worlds.In 2025, real value in DeFi won’t just be about volume — it will be about trust, speed, and execution. ByReal is clearly betting big on all three.
