Byreal earns from swap fees in its concentrated-liquidity pools. Each pool carries a fee tier paid by traders, shared between the liquidity providers of the pool and the protocol. Swaps reach the pools through Byreal's own router and through DEX aggregators.

Byreal is a decentralized exchange and real-asset liquidity hub on Solana, live since mid-2025. Its core venue is a concentrated liquidity market maker (CLMM) in which liquidity providers place capital within chosen price ranges on discrete ticks, alongside RFQ liquidity for selected pairs, a token launchpad, and perpetuals and prediction markets powered by third-party venues. It describes itself as a CEX-grade DEX on Solana.

Byreal is a Solana DEX incubated by Bybit, one of the largest centralized cryptocurrency exchanges by trading volume. It combines on-chain trading and liquidity infrastructure with connections across the Bybit ecosystem; there is no governance token.

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Exchanges (DEX)

Byreal

# Byreal Trade count Methodology

## 1. Overview

Trade count measures the number of trades executed on a decentralized exchange. The frequency with which users buy or sell assets through Byreal CLMM is represented by this metric. Each swap executed through the `Byreal CLMM` program is counted as a trade. For multi-hop routes that route through multiple Byreal pools, each individual pool interaction is counted as a separate trade.

## 2. Data sources

- **Blockchain events**: Trade records executed by the `Byreal CLMM` program, covering Solana
- **External data**: Asset metadata for decimal normalization

## 3. Step-by-step calculation

### Component A: Trade extraction

- **Purpose**: Extract raw trade records executed through the `Byreal CLMM` program
- **Logic**: Raw trade records are filtered from Solana DEX trade data where the executing account is matched to the `Byreal CLMM` program account. For each trade, the block timestamp, transaction ID, transaction signer, pool account, vault accounts, mint accounts, and raw asset amounts are extracted.
- **Key fields**: `block_timestamp`, `transaction_id`, `transaction_signer`, `pool_address`, `base_amount`, `quote_amount`

### Component B: Decimal normalization

- **Purpose**: Normalize asset amounts using decimal precision
- **Logic**: Base and quote asset amounts are joined with asset metadata to retrieve the respective decimal values. The raw amounts are then normalized by dividing by their decimal precision.
- **Key fields**: `base_amount`, `quote_amount`, `decimals`

### Component C: Trade count aggregation

- **Purpose**: Aggregate the total number of trades and apply zero-filling
- **Logic**: Trades are aggregated by truncating the block timestamp to daily granularity. The total trade count is calculated by counting the number of individual swap records for each day, chain, and product. A multi-hop route that touches two Byreal pools is counted as two distinct trades. Missing days are filled with zeros to ensure a continuous time series.
- **Key fields**: `block_timestamp`, `product_id`, `chain`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of trades executed on a decentralized exchange.

Byreal

Trade count

Trade count

Competitive landscape