In the fast-paced world of decentralized finance (DeFi), stories of bootstrapped success are always inspiring. A recent tweet from Havoc.hl spotlighted Project X (@prjx_hl), a decentralized exchange (DEX) on HyperEVM that's making waves without a dime from venture capitalists. According to the post, Project X gained $24 million in Total Value Locked (TVL) in just six days, all self-funded by creators @BOBBYBIGYIELD and @Lamboland_.

The accompanying screenshot paints a vivid picture of this growth. Project X boasts a TVL exceeding $109 million, with a staggering 24-hour trading volume of over $114 million and fees totaling $133,507. For those new to DeFi lingo, TVL refers to the total amount of assets locked in a protocol's smart contracts—essentially a measure of its liquidity and popularity. The chart shows a steady climb from around $84.8 million on August 15, confirming that $24 million bump in under a week.

What sets Project X apart? It's billed as the first automated market maker (AMM) DEX on HyperEVM, a blockchain layer built on the Hyperliquid ecosystem. Think of it as a Uniswap-style platform tailored for HyperEVM, where users can swap tokens, provide liquidity, and manage portfolios with ease. Launched just about a month ago in mid-July 2025, it's already the top DEX on the chain in terms of liquidity, user engagement, and fee generation—as noted in a post by co-contributor BOBBY.

No VC funding means Project X is a true community-driven project. Instead of relying on big investors, it's fueled by organic growth and innovative incentives. One key feature is its points system, which rewards users for activities like trading, adding liquidity, posting on X (formerly Twitter), and referring friends. These points could lead to a potential airdrop of the platform's native token, PRJX, encouraging early adoption and viral spread. As Decrypt reported, the team aims to inject "dopamine" into DeFi with a user-friendly interface and modern incentives to onboard more people.

Looking at the pools in the dashboard, it's clear why meme token enthusiasts are buzzing. The HYPE/UETH pair leads with $2.95 million in liquidity, a 24-hour volume of $2.89 million, and an eye-popping Annual Percentage Rate (APR) of 107.26%. Other pairs like UBTC/UETH and USDT/UETH also show strong activity, with APRs ranging from 63% to 223%. High yields like these attract traders hunting for quick gains, often in volatile meme tokens. $HYPE itself appears to be a meme-inspired token within the ecosystem, aligning perfectly with Meme Insider's focus on helping blockchain practitioners navigate these trendy assets.

The thread's replies add to the hype—@Lamboland_ calls it a "MOVIE," and Havoc responds with "CINEMA!"—slang for something epic unfolding. This enthusiasm reflects broader sentiment on X, where users praise Project X for its self-funded model and rapid milestones. As one post put it, "Self funded PRJX is #1 DEX on HyperEVM? Crown goes to Lambo, BOBBY, Interns and YOU."

For meme token traders and DeFi degens, Project X represents an exciting opportunity on HyperEVM. With phase 2 developments on the horizon, including team expansions and new features, it's poised to shake up the space. If you're looking to dive in, check out their official X profile or explore the DEX directly via dexscreener.com. Just remember, as with all crypto ventures, do your own research—high APRs come with risks like impermanent loss.

Stay tuned to Meme Insider for more updates on emerging DEXs and meme tokens revolutionizing blockchain.