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 Average trading volume (per trade) Methodology

## 1. Overview

Average trading volume (per trade) measures the average USD value of a single swap executed on Byreal CLMM. This metric is calculated by dividing the total daily trading volume by the daily trade count. Insights into transaction sizes on the platform are provided, which helps distinguish between institutional and retail activity.

## 2. Data sources

- **Blockchain events**: `CLMM_CreatePool` instructions from the Byreal program, and decentralized exchange trade records executed by the Byreal program, covering Solana
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Trade and pool metadata extraction

- **Purpose**: Identify and map Byreal CLMM pools and their associated assets
- **Logic**: Pool accounts and their corresponding asset mint accounts are identified using `CLMM_CreatePool` instructions from the Byreal program. For pools without decoded creation instructions, pool mapping is established using the first observed trade. Assets are ordered lexicographically to establish consistent token pairs.
- **Key fields**: `pool_address`, `token_address_0`, `token_address_1`

### Component B: Trade count and volume tracking

- **Purpose**: Capture individual swap transactions and calculate their raw asset amounts
- **Logic**: Individual swap transactions executed by the Byreal program are extracted from decentralized exchange trade records. Raw transaction amounts for both assets in a swap are normalized by their respective decimal precision using asset metadata. The daily trade count is calculated by aggregating the total number of individual swap transactions.
- **Key fields**: `amount_0`, `amount_1`, `trade_count`

### Component C: USD valuation and volume calculation

- **Purpose**: Convert swap amounts to USD and determine the daily trading volume
- **Logic**: Normalized asset amounts are multiplied by end-of-day asset prices to determine the USD value of each swap leg. To prevent inflation from volatile or mispriced assets, the trading volume for each swap is defined as the lesser USD value of the two swap legs. These values are aggregated daily to calculate the total daily trading volume.
- **Key fields**: `trading_volume`

### Component D: Average trading volume calculation

- **Purpose**: Calculate the average value of a single trade
- **Logic**: The total daily trading volume in USD is divided by the daily trade count. A safe division function is applied to handle cases where the trade count is zero, ensuring the metric is safely calculated.
- **Key fields**: `trading_volume_avg_per_trade_count`

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

Byreal

Average trading volume (per trade)

Average trading volume (per trade)

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