DeFi is currently the only concept that can be implemented and executed on native blockchain But the problem is also very obvious Wallet generation, risk of private key loss, complex interactions, and gas management are enough to deter the vast majority of mainstream investors This issue is being dismantled head-on The direction is clear: participate in DeFi as simply as buying coins on an exchange, with wallets, private keys, and complex interactions disappearing from the user's perspective @Bybit_ZH Alpha is the product sample standing at this turning point Put DeFi profits into the shell of CEX Essence: Bybit packages on chain transactions and on chain mining into its own custody system Users can enjoy the transaction fee income that was originally only available in DeFi with just a few clicks in CEX Account remains unchanged, wallet not created, gas not paid, complexity and risk points all moved to the platform 1/Technical bottom layer: Users are isolated, and on chain logic remains in the background Surface: Ordinary CEX trading and wealth management interface Actual: All key actions are executed on the chain Order Path Unified account UTA takes over all on chain interactions Your operation has been routed to liquidity networks such as Byreal, Raydium, Orca, etc What you are seeing is exchange matching, essentially an on chain swap Market making path You click one click to add liquidity, which triggers the backend to inject funds into the on chain smart contract Private key isolation Wallet, mnemonic words, and private keys completely disappear from the user's side Assets are managed on Bybit, and you do not directly deal with contracts. The operational risk is largely covered by the platform in essence CEX's interactive shell+DeFi's execution kernel+platform consumes a large amount of operational risks 2/DeFi and DeFi are truly connected for the first time In the past, most of the profits that CEX could do were in lending, wealth management, and internal AMM Centralized cash flow, revenue comes from internal platform spreads and subsidies The logic of Bybit Alpha is different The revenue comes directly from the actual swap transaction fees on the chain, rather than the platform writing a random interest rate CEX is the first to connect mass users to a real cash flow entry point for on chain protocols on a large scale The result is direct: to the user Still using CEX, but upgrading the source of revenue to "verifiable on chain fees" Regarding DeFi protocols Pingbai has added an additional capital entry point from CEX, increasing real liquidity rather than short-term embezzlement of funds Regarding industry structure Traffic on CEX, revenue on chain What Bybit does is to connect these two ends together and package decentralized revenue with a centralized experience 3/Alpha Farm: Flatten the Four Great Mountains of DeFi Most people are blocked by DeFi not because they don't understand finance, but because they lose at the tool level Remove these thresholds from the front of Alpha Farm Single currency participation, eliminate the "dual currency threshold" Traditional LP requires equivalent pairing of two types of assets Alpha Farm allows single coins to enter the pool, and the system automatically exchanges them for your significant other Users no longer struggle with matching, exchanging, and sliding points No gas needed, eliminate the anxiety of fuel costs on the chain Users do not need to prepare native coins such as SOL and ETH The cost of all on chain operations is directly deducted from the invested assets Gas is completely invisible in terms of experience, and users only perceive the total revenue CLMM concentrates liquidity and provides ordinary people with a v3 level return model The underlying layer adopts CLMM similar to Uniswap v3 Alpha uses three preset options to reduce complexity: Stable range: Wide range, more stable returns, suitable for conservatism Standard range: Medium range, balancing returns and risks Custom customization: Draw price ranges for people with judgment ability, resulting in more aggressive returns and more direct risks Users don't need to study a bunch of formulas, just choose one from the three levels of "steady/medium/offensive" One click automation of the entire process to eliminate interaction complexity No wallet unauthorized No signature No cross chain No Gas One click join, one click withdraw What you are seeing is a wealth management product, essentially an on chain market making position Alpha Farm has almost eliminated the complexity and computational threshold of DeFi, leaving only the core revenue mechanism 4/Alpha Farm vs DeFi vs CeFi: Comparison of Mode Essence Remove all packaging, the differences are clear 1. Operational complexity DeFi： Wallet, mnemonic words, private key management, authorization, gas settings, slippage, cross chain Every step has its pitfalls, and the general public naturally refuses CeFi： Easy to operate, but with limited returns. More focused on deposits, loans, structured finance, and internal fund games Alpha Farm： Operation close to CeFi, revenue close to DeFi The threshold comes from "risk awareness" rather than "tool usage" 2. Sources of income and volatility DeFi： Handling fee+project incentive APY is high, but it fluctuates greatly and often drops sharply after the incentive ends CeFi： The platform provides a given interest rate with minimal fluctuations and low returns Many times, it is actually eating the "information laziness dividend" of users Alpha Farm： The main income comes from transaction fees on the chain, and some pools are combined with incentives Popular pools can maintain high returns close to DeFi during good market conditions At the same time, stabilize the asset pool to suppress fluctuations in net worth 3. Asset selection DeFi: Extremely rich, ranging from blue chip to junk CeFi: Mainstream coins+stablecoins dominate, with few real-world assets Alpha Farm： Mainstream coins+stablecoins+gold+stock tokens Integrating "cryptocurrency volatility" and "traditional asset stability" into the same market making framework 4. Risk structure DeFi： Private key risk, contract risk, and market risk all lie on the user's end CeFi： Platform credit risk+centralized custody risk Alpha Farm： Combining the characteristics of both sides Users bear the risks of market fluctuations and platform custody The majority of tool operation risks are consumed by the platform, and contract interactions are isolated in the background Alpha Farm has integrated DeFi's high-yield logic with CeFi's low threshold experience Sacrificing a portion of 'de trust' in exchange for greater availability and incremental funding 5/From people who understand how to make money to anyone who can access cash flow DeFi proves that blockchain has a real place in the financial field But in the past, this land was only open to a few people: those who knew how to use wallets, understood contracts, and could afford frequent operating costs What Bybit Alpha and Alpha Farm do is very straightforward: Shift the threshold from 'you need to know how to use DeFi' Change to 'Are you willing to take on the risk corresponding to this profit?' After the passage DeFi is no longer an exclusive game for tech players, but has become a revenue layer that can be standardized and distributed at scale by CEX This is the true way to bring DeFi into the mainstream financial system play around