In the fast-paced world of DeFi, where decentralized finance meets the wild energy of blockchain, a recent tweet from Moaru (@moaruxyz) has sparked excitement among crypto enthusiasts. The post highlights the impressive growth of Project X, a decentralized exchange built on Hyperliquid's HyperEVM. If you're into meme tokens, this could be a signal of bigger things to come on this emerging chain.

The Buzz from the Tweet

Moaru, a DeFi enthusiast bullish on Hyperliquid, shared a screenshot from what looks like DefiLlama, showcasing Project X's key metrics. "Almost $100M locked, $3B+ volume in 30 days, and fees stacking steady. Project X is quietly cooking. 🔥 @prjx_hl," the tweet reads. It's quoting an earlier post where Moaru noted, "Project X now shines in the dark 😎," with a dark-mode interface screenshot.

This thread has garnered likes, reposts, and replies, with community members like BOBBY (@BOBBYBIGYIELD) hinting at more developments soon, possibly Phase 2. Others chimed in, praising the project's momentum without much hype. You can check out the full thread here.

What is Project X?

For those new to this, Project X is a DEX (decentralized exchange) on Hyperliquid's HyperEVM, aiming to make DeFi more accessible and fun—think Uniswap but with a fresh twist on user experience. Hyperliquid itself is a high-performance blockchain focused on perpetual futures, but with HyperEVM, it's expanding into spot trading and DeFi apps.

Project X supports token swaps, liquidity provision, and portfolio management. From the screenshots, we see tokens like HYPE (Hyperliquid's native token), USDTO, and meme-inspired ones such as SUPUMP and ShinBILL. This setup is perfect for meme token traders looking for low-fee, high-speed environments. Learn more about Project X on DefiLlama or RootData.

Breaking Down the Numbers

Let's unpack those stats that have everyone talking:

• Total Value Locked (TVL): Sitting at $96.64M, this measures the total assets deposited into the protocol for liquidity or staking. Nearing $100M is a big milestone, showing strong user trust and adoption.

• DEX Volume (30 Days): Over $3B cumulative, with $3.988B in the last 30 days alone. That's the total trading volume on the exchange—impressive for a relatively new player.

• Fees: Annualized fees hit $52.87M, with $4.43M in the last 30 days and $1.31M in the past week. Steady fee generation means the protocol is sustainable and rewarding for liquidity providers.

These figures come from the Hyperliquid L1 chain, where Project X operates exclusively. Compared to other DeFi protocols, this growth trajectory suggests Project X is capturing a slice of the meme token trading pie, especially as Hyperliquid's ecosystem expands.

Why This Matters for Meme Tokens

Meme tokens thrive on hype, community, and accessible trading platforms. Hyperliquid's speed and low costs make it an ideal home for volatile assets like memes. Project X, as a spot DEX, enables seamless swaps

🔍 Examining additional images
- The quoted post has another image, showing what "shines in the dark" means.

🔧 Using tool: view_image
📝 Parameters: image_url: https://pbs.twimg.com/media/GzsNOSpaIAEWDxH.jpg

🔍 Searching for: "Project X Hyperliquid"
📊 Results requested: 10

🔍 Found 10 search results

🔗 ​Project X Aims to Give DeFi a Shot of Dopamine—Like 'Uniswap ...​
📄 Project X seeks to open up Hyperliquid's HyperEVM with a Uniswap-style automated market maker experience—and make DeFi more user-friendly too.
🌐 decrypt.co

🔗 ​Project X - DefiLlama​
📄 Protocol Information. Project X is built on the belief that tech is becoming increasingly commoditized and the next era of DeFi will be won by innovat...
🌐 defillama.com

🔗 ​"Avail Nexus Now Supports 10 Chains: Enter Hyperliquid" / X​
📄 Avail Nexus connects 10 chains through a single liquidity layer, adding multichain scalability to HyperEVM projects from day one. Builders gain ...
🌐 x.com

🔗 ​Hyperliquid L1 - DefiLlama​
📄 Hyperliquid L1 Bookmark. Total Value Locked in DeFi$2.364b. 0.00%24h. Key Metrics. Stablecoins Mcap $5.855b. Change (7d)+4.84%. USDC Dominance95.42%.
🌐 defillama.com

🔗 ​Hyperliquid Twitter - X​
🌐 twitter.com

🔗 ​Project X - RootData​
📄 Project X is a decentralized exchange based on HyperEVM that supports token trading, liquidity provision and portfolio management.
🌐 www.rootdata.com

🔗 ​Hyperliquid price today, HYPE to USD live price, marketcap and chart​
📄 The live Hyperliquid price today is $43.08 USD with a 24-hour trading volume of $255478136.33 USD. We update our HYPE to USD price in real-time.
🌐 coinmarketcap.com

🔗 ​Hyper Foundation​
📄 Hyperliquid is the blockchain to house all finance. For the first time, build projects, create value, and exchange assets on the same hyper-performant...
🌐 hyperfoundation.org

🔗 ​Project X Airdrop » Potential Token for a New HyperEVM DEX​
📄 What is Project X? Project X is a decentralized exchange (DEX) built on Hyperliquid's HyperEVM ecosystem, designed to serve as an automated market mak...
🌐 airdrops.io

🔗 ​'Uniswap With Rizz': Hyperliquid's Network Gets Project X Exchange​
📄 Project X aims to differentiate itself in the crowded DeFi space by focusing on distribution-first approach, emphasizing marketing, user experience, a...
🌐 decrypt.co

of these tokens without the centralization risks of traditional exchanges.

With TVL climbing and volume surging, more liquidity could attract bigger meme launches. Think about it: tokens like SUPUMP (possibly nodding to pump.fun) could see increased activity.

- The image from the main post is at https://pbs.twimg.com/media/Gzw61lSawAABzq-.jpg, showing Project X's dashboard.
If Phase 2 brings new features, as hinted in the replies, it might include meme-specific tools or integrations, boosting the ecosystem.

For blockchain practitioners, this is a reminder to watch emerging chains like Hyperliquid. It's not just about Ethereum or Solana anymore—niche L1s are carving out spaces for specialized DeFi, including memes.

Looking Ahead

Project X's quiet rise, as Moaru puts it, might not stay quiet for long. With community buzz building and metrics on the up, it's worth keeping an eye on @prjx_hl for updates. Whether you're a meme token hunter or a DeFi builder, this could be the next hot spot in crypto.

Stay tuned to Meme Insider for more on meme tokens, DeFi innovations, and blockchain news. What's your take on Project X—bullish or waiting for more? Drop your thoughts in the comments!