Meme Insider
Project X, the rising decentralized exchange (DEX) in the Hyperliquid ecosystem, just leveled up with the launch of Phase 2. This update, announced by Castle Labs on X, brings some game-changing features that could make trading meme tokens smoother and more profitable than ever.
For those new to the scene, Hyperliquid is a high-performance blockchain platform known for its perpetual futures trading, and it's expanding into the EVM-compatible space with HyperEVM. Project X (@prjx_hl) is a DEX built on it, recently surpassing $5 billion in trading volume and ranking second in 30-day fees, right behind Hyperliquid itself.
The excitement kicked off with a teaser about Phase 2, and now it's live. Here's what the update includes, straight from the announcement:
Cross-Chain Trading Magic: You can now trade any token from any blockchain using a custom integration with Lifi Protocol (@lifiprotocol). This means seamless swaps without leaving the Hyperliquid environment – perfect for jumping on hot meme tokens across chains like Ethereum or Solana.
Zero Aggregator Fees: No more pesky fees eating into your profits. Project X is waving goodbye to aggregator charges, making it cheaper to trade those volatile meme coins.
Points for Every Trade: All trades now earn points, which could lead to future rewards or airdrops. If you're farming points in DeFi, this is a big win.
Smarter Liquidity Provider (LP) Rewards: LPs get a boost by routing trades back through Project X pools when price differences elsewhere are negligible. This encourages more liquidity, which means better prices and less slippage for traders.
Castle Labs noted it'll be interesting to watch the volumes on these cross-chain swaps and how much capital sticks around on HyperEVM. They're also keeping an eye on whether this becomes a go-to feature and what's coming in Phase 3.
For meme token traders, this is huge. Meme coins thrive on speed and low costs, and Project X's updates align perfectly with that. Imagine swapping a trending meme from another chain directly on Hyperliquid without the usual hassles – it could accelerate adoption and liquidity in the meme space.
If you're into blockchain tech or hunting the next big meme, check out Project X on Hyperliquid. Follow @prjx_hl for updates, and stay tuned to Meme Insider for more insights on how these developments impact the meme token world.
