If you've been diving into the world of decentralized finance (DeFi) on HyperEVM, especially with projects like Project X (PRJX), you've probably heard whispers about protocol fees. Recently, a thread on X from @hyperyield_cash shed some light on how to verify these fees directly on the blockchain. It's a great example of why transparency matters in crypto, particularly for meme token enthusiasts who thrive on community trust and verifiable data.

Project X is a community-driven decentralized exchange (DEX) built on HyperEVM, an EVM-compatible chain from Hyperliquid. As an automated market maker (AMM), it allows users to swap tokens, provide liquidity, and manage portfolios—all with a focus on unifying the EVM ecosystem. The PRJX token powers this platform, and like many meme-inspired projects, it emphasizes accessibility and on-chain verifiability to build hype and trust.

The thread kicks off by quoting @BOBBYBIGYIELD, a contributor to PRJX, who emphasizes that "everything is verifiable on chain." He shares a code snippet illustrating the 14.3% protocol fee setup.

In the image, you can see the slot0 struct from a pool contract, where feeProtocol is set to 7 + (7 << 4). Let's break this down simply: In Uniswap-style pools (which Project X builds upon), fees are encoded in an 8-bit value—4 bits for each token in the pair. Here, both are set to 7, combining to 119 (since 7 shifted left by 4 is 112, plus 7). The protocol fee is then 1/7, or about 14.3%, applied to each token's swap fees.

@hyperyield_cash jumps in with a hands-on guide: Pick any pool, read its slot0 value via a blockchain explorer like HyperEVM Scan, and check the feeProtocol. It's that straightforward. This demystifies how protocols collect fees—part of the trading costs that go back to the project or liquidity providers—and shows how anyone can audit it without relying on third-party claims.

Why does this matter for meme token traders? In the fast-paced world of memes on chains like HyperEVM, where rugs and hidden fees can kill a project's vibe, on-chain verification builds confidence. Project X's approach aligns with the meme culture of decentralization and community empowerment. Traders can confirm that the 14.3% fee is as advertised, ensuring fair play in liquidity pools where meme tokens often launch and thrive.

The replies to the thread reflect this community spirit—shouts of appreciation from @Lamboland_ and @BOBBYBIGYIELD, plus others chiming in with thanks and even a bit of humor about feeling "dumb" for not checking sooner. It's a reminder that in DeFi, knowledge is power, and tools like contract readers make it accessible to everyone, not just devs.

If you're trading PRJX or other tokens on Project X, take a moment to verify a pool yourself. It not only boosts your understanding but also contributes to a healthier ecosystem. For more insights on meme tokens and DeFi innovations, stick around Meme Insider—we're here to keep you in the loop on the latest blockchain buzz.