Bybit Unveils 'Byreal' Hybrid DEX on Solana Network

# Bybit to Launch Solana-Based Hybrid Decentralized Exchange 'Byreal' Bybit, a prominent digital asset exchange, is gearing up to introduce Byreal, a hybrid decentralized exchange (DEX) built on Solana, aiming to merge centralized exchange (CEX) liquidity with decentralized finance (DeFi) transparency. The Byreal testnet is slated for debut on August 30, with a mainnet launch expected later in the third quarter, as announced by Bybit on August 15. # Hybrid Routing Structure: The Core of Byreal Central to Byreal is its innovative hybrid routing structure, which combines a Request-for-Quote (RFQ) system with a Concentrated Liquidity Market Maker (CLMM) mechanism. The RFQ system allows users to seek price quotes from various liquidity providers, ensuring trade execution at optimal prices. Concurrently, the CLMM mechanism concentrates liquidity within specific price ranges, boosting capital efficiency and trade speed. Bybit emphasizes that this hybrid structure aims to reduce slippage, the price variance during trades, and mitigate the prevalent Maximal Extractable Value (MEV) attacks in DeFi ecosystems. # Built on Solana: A Thriving DEX Ecosystem Byreal is built on the Solana blockchain, which has recently surged in popularity for meme coin launches and boasts a rapidly expanding decentralized exchange ecosystem. Among Solana-based DEX platforms, Raydium leads the market with a share of about 55%, maintaining a total value locked (TVL) of approximately $1.7 billion (around 2.3 trillion KRW). Bybit seeks to exploit Solana's high-speed blockchain advantages to position Byreal competitively in the dynamic decentralized trading market.