In the fast-paced world of decentralized finance (DeFi), milestones like hitting $100 million in Total Value Locked (TVL)—which basically means the total amount of assets users have deposited into the platform—can make or break a project. But what if I told you a DEX (decentralized exchange) is on the verge of this achievement without a single dollar of venture capital funding? That's exactly what's happening with Project X on HyperEVM, as highlighted in a recent buzzworthy tweet from @munchPRMR.

The tweet, posted on August 20, 2025, captures the excitement: "Wtf just happened? @prjx_hl about to hit 100m TVL ZERO FUNDING." Accompanying it is a screenshot showing the TVL at a tantalizing $98,747,897, with a graph indicating steady growth. This isn't just hype; it's a testament to organic community growth in the crypto space.

What is Project X?

Project X, or @prjx_hl on X, bills itself as a first-of-its-kind DEX built on HyperEVM, which is the Ethereum Virtual Machine-compatible layer of the Hyperliquid blockchain. Hyperliquid is known for its high-performance perpetual futures trading, but HyperEVM extends that to support standard DeFi activities like swapping tokens and providing liquidity.

Unlike many projects that rely on hefty funding rounds to bootstrap liquidity and marketing, Project X is 100% community-driven. No VCs, no big investors—just crypto enthusiasts building and using the platform. It features a sleek user interface for liquidity provision, staking, and trading popular EVM tokens all in one place. Plus, there's a points-based system that's setting the stage for a potential airdrop during its Token Generation Event (TGE). Users earn points by providing liquidity, which could translate to rewards down the line.

The platform's dashboard keeps things simple: track your balances, earned points, and Annual Percentage Rate (APR) for yields—all without the clutter. If you're new to DeFi, APR is essentially the interest rate you earn on your deposited assets over a year.

Why Zero Funding is a Big Deal

In crypto, funding often comes from venture capitalists who pour millions into projects for equity or tokens. This can accelerate growth but also leads to centralized control or dumps when VCs cash out. Project X flipping the script shows what's possible with pure community bootstrap. Starting from launch in mid-July 2025, it has rapidly climbed in TVL through word-of-mouth, easy onboarding, and incentives like point boosters for early liquidity providers.

Replies to the tweet echo this sentiment. Users are chiming in with "HIGHERLIQUID" chants—a nod to Hyperliquid's ecosystem—and questions like "No funding, but hitting 100m TVL? What's the secret sauce?" It's clear the community is pumped, seeing this as a case study in decentralized success.

How to Get Involved with Project X

If this has you intrigued, jumping in is straightforward. Head over to their site via this referral link to sign up and start earning points. Bridge assets like ETH to HyperEVM using tools like Relay Protocol, swap for stablecoins like USDT0 or USDL, and provide liquidity in pools for yields and points.

For those farming on HyperEVM, Project X integrates seamlessly with the broader Hyperliquid ecosystem, potentially qualifying users for additional airdrops like Season 2 of $HYPE. Just remember, as with all DeFi, do your research—liquidity provision can involve impermanent loss, where the value of your deposited tokens shifts due to price changes.

The Broader Impact on Meme Tokens and DeFi

While Project X isn't strictly a meme token platform, its DEX supports trading a wide array of EVM tokens, including those viral meme coins that thrive on community hype. This milestone could inspire more grassroots projects in the meme space, where zero-funding launches are common but rarely hit such TVL heights. As meme tokens evolve, platforms like this provide the infrastructure for sustainable trading and liquidity.

Keep an eye on Project X as it crosses that $100M mark—it's not just a win for HyperEVM but a reminder that in crypto, community can outpace capital. If you're into DeFi or memes, this is one to watch.