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 Active users (monthly) Methodology

## 1. Overview

Active users (monthly) is measured as the number of unique accounts that make a revenue-generating transaction with Byreal CLMM. Unique transaction signers (end traders) who execute swaps within Byreal CLMM liquidity pools are tracked. This metric is utilized to evaluate user engagement, protocol adoption, and trading activity. Transactions are captured whether they are routed directly through the Byreal router or executed via external decentralized exchange aggregators.

## 2. Data sources

- **Blockchain events**: Trade instructions executed by the Byreal program, covering Solana

## 3. Step-by-step calculation

### Component A: Byreal CLMM trade extraction

- **Purpose**: Identify and extract swap transactions executed through Byreal CLMM pools
- **Logic**: Trade instructions are filtered from Solana decentralized exchange trade records where the executing program matches the Byreal program account. For each trade, the transaction signer, pool account, and asset mint accounts are extracted. All swaps are captured, whether routed directly through Byreal or initiated via third-party decentralized exchange aggregators.
- **Key fields**: `timestamp`, `signer`, `pool`

### Component B: Monthly active user aggregation

- **Purpose**: Calculate the monthly count of unique active users
- **Logic**: Transaction signers are grouped by 30-day rolling window using UTC boundaries. Duplicate signers within the same 30-day rolling window are removed to isolate unique active users (monthly) for the Byreal CLMM product. Chain availability filters are applied to ensure data freshness and alignment with archival strategies.
- **Key fields**: `timestamp`, `signer`, `product_id`

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

Unique revenue-generating users over a rolling 30-day window.

Byreal

Active users (monthly)

Active users (monthly)

Competitive landscape