Bybit is preparing to launch a new decentralized exchange,called Byreal. The platform will go live on the Solana testnet on June 30. Thefull launch on the mainnet is expected in the third quarter of 2025.Byreal is designed as a hybrid exchange. It combineselements of centralized and decentralized trading. The company says it willoffer centralized exchange-level liquidity and the transparency ofdecentralized finance.Byreal Offers CLMM, RFQ, MEV ProtectionBen Zhou, CEO of Bybit, described Byreal as a product thatbrings “CEX-grade liquidity with DeFi-native transparency.” The Byreal teamcalled the platform an “onchain extension of a global exchange.”Byreal will include features like Request for Quote (RFQ)and Concentrated Liquidity Market Maker (CLMM) routing. RFQ allows users torequest price quotes from multiple sources. CLMM helps liquidity providersfocus their capital within price ranges where trading is most likely to happen.This setup is intended to reduce slippage and improve trade execution.The exchange is designed to offer fast swaps with protectionagainst MEV. MEV (maximum extractable value) is a factor in DeFi trading thatcan impact transaction fairness and pricing.It’s official. Byreal is here.👋🏽Incubated by @Bybit_Official, born on @Solana.Byreal is a new onchain liquidity network for the next wave of assets — where real value is listed, discovered, and traded transparently. pic.twitter.com/seDoKdZCKw— Byreal (@byreal_io) June 15, 2025You may find it interesting at FinanceMagnates.com: BybitIntegrates TradingView to Simplify Crypto Market Analysis.Bybit Expands Services While Handling BreachIn early 2025, Bybitfaced a significant cybersecurity breach that led to the loss of over $1.4billion in assets. The company responded by launching a $140 million bountyprogram to identify those responsible and improve platform security. Bybit alsocollaborated with the decentralized custody protocol Safe to addressvulnerabilities and manage withdrawal requests. Bybit has also been expanding its product offerings toenhance user experience and market reach. Recently, thecompany introduced a Fixed Rate Loan service, enabling users to accesspeer-to-peer loans with fixed interest rates and terms. Additionally, Bybitsurpassed 30 million registered users globally and increased its marketshare in spot trading from 2% in 2023 to 11% by April 2024. This article was written by Tareq Sikder at www.financemagnates.com.