Top exchanges are accelerating their embrace of on-chain
Binance: BNB Chain + Binance Wallet + Binance Alpha
Coinbase: Base (Big news: Coinbase plans to support trading of all Base chain tokens on the app side)
Bybit: Byreal + IYAM (Asset Lighting)
This article focuses on Bybit's on-chain layout and strategy.
Bybit Registration: https://www.bybit.com/zh-MY/trade/spot/token-splash?affiliate_id=96987
- Byreal: On-chain "Super App"
Byreal is an on-chain comprehensive platform created by Bybit, covering mainstream DeFi functions such as DEX, launchpad, and yield vaults.
Core Features
DEX: Uses a hybrid routing mechanism of CLMM + RFQ (Request for Quote)
Launchpad: Smart price ladder + Fair distribution engine
Community Vault: Selected yield vaults
I am most looking forward to the launchpad section. It is clear that many good projects will be willing to launch on Byreal under Bybit's endorsement. I just hope there will be more iterations in gameplay, with Virtuals Genesis Launches being the best learning model.
Timeline
Testnet: Scheduled to launch on June 30, 2025
Mainnet: Expected to go live in Q3 2025
- IYAM (Asset Lighting Activity)
Similar to Binance Alpha, Bybit stimulates user interaction interest and completes the product experience loop through gamification mechanisms, high rewards, and scenario-based tasks.
Activity Period: June 10, 2025 - July 11, 2025
Activity Structure
Main Activity: Light up the map, enter a lottery to win millions in rewards
Tasks:
Flash swap/spot trading (≥100 USDT) → 1 lottery chance
Leverage trading/pledge lending (≥200 USDT/50 USDT) → 2 lottery chances
Leverage pledge SOL (≥1 SOL) → 2 lottery chances
Hidden Task: Complete all 5 tasks to unlock an additional 5 lottery chances
Rewards: USDT airdrop
Asset Appreciation Station: Trade positions to earn points, share 700,000 USDT
Points Mechanism:
Trading Points: Accumulated based on trading volume for spot, leverage, and flash swaps, with flash swaps and leverage trading enjoying a 1.1x bonus.
Holding Points: Pledge lending (1.5x bonus), leverage pledge SOL (1.1x bonus), with daily asset snapshots automatically calculated.
For more details on the activity, click here: https://announcements.bybit.com/en/article/:title-blt6a996b744eabb90e/
Reference: Some views in this article are based on @ahboyash's article.
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