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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Byreal

# Byreal Trading volume Methodology

## 1. Overview

Trading volume is measured as the total value of trades executed on the decentralized spot exchange Byreal CLMM. This metric is used to assess the liquidity, trading activity, and overall utilization of the protocol's concentrated liquidity pools. Since trading fees are paid by users on executed trades, trading volume is highly correlated with the protocol's ability to generate fees and supply-side revenue. Swaps routed through Byreal's native router and decentralized exchange aggregators are included, while off-chain Request for Quote (RFQ) transactions are excluded.

## 2. Data sources

- **Blockchain events**: `CreatePool` instructions from the `CLMM` program and trade instructions executed on the Byreal program, covering Solana
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Pool metadata identification

- **Purpose**: Identify active concentrated liquidity pools and their associated asset pairs.
- **Logic**: Pool accounts and their corresponding asset mints are identified using `CreatePool` instructions from the `CLMM` program. For pools without a decoded creation instruction, the asset pair and creation timestamp are derived from the first observed trade instruction.
- **Key fields**: `pool_address`, `token_address_0`, `token_address_1`

### Component B: Byreal CLMM trade extraction and normalization

- **Purpose**: Extract and normalize trade amounts from the Byreal CLMM program.
- **Logic**: Trade instructions executed on the Byreal program are parsed to extract base and quote asset amounts. These raw amounts are normalized by decimal precision using asset metadata.
- **Key fields**: `amount_0`, `amount_1`

### Component C: USD conversion and volume valuation

- **Purpose**: Convert trade amounts to USD and determine the final trading volume.
- **Logic**: Normalized base and quote asset amounts are multiplied by their respective end-of-day asset prices. To prevent volume inflation from oracle discrepancies or extreme price volatility, the trading volume for each swap is valued at the lesser of the two trade legs.
- **Key fields**: `price_usd`, `trading_volume`

### Component D: Final aggregation

- **Purpose**: Aggregate trading volume to daily intervals.
- **Logic**: The validated USD trading volumes are aggregated by day, pool, and asset pair. Daily boundaries are defined using UTC timestamps.
- **Key fields**: `timestamp`, `trading_volume`

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

Total value of spot trades executed on the exchange.

Byreal

Trading volume

Trading volume

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