If you've been keeping an eye on the DeFi scene, especially on Hyperliquid, you might have caught wind of the excitement brewing around Project X. A recent tweet from @moaruxyz has the community buzzing, highlighting the project's stellar performance and teasing what's next with Phase 3. Let's break it down and see why Project X isn't just another DEX—it's positioning itself as a powerhouse in the crypto world.

What's Project X All About?

Project X is a community-driven decentralized exchange (DEX) built on Hyperliquid's HyperEVM, essentially a tuned-up fork of Uniswap v4 optimized for super-fast 50ms finality. It offers zero-fee trading for any coin, making it a go-to spot for traders looking to swap without the usual costs eating into their gains. Launched to centralize liquidity on HyperEVM and beyond, it's already making waves with its multi-chain aggregator features. For meme token enthusiasts, this means smoother, cheaper trades on hype-driven assets that thrive on quick flips and viral momentum.

As shown in the latest data from DefiLlama, Project X sits comfortably at #3 in 24-hour fees on Hyperliquid, raking in $185,051—just behind Hyperbeat and the native Hyperliquid protocol. Over 7 days, it's pulled in $1.18 million, and a whopping $4.51 million in the last 30 days. These numbers aren't just impressive; they signal real user adoption and trading volume in a market that's anything but predictable.

The Tweet That Sparked the Hype

The tweet quotes an update from @Lamboland_, the mind behind Project X, who shared the "state of Project X." They're wrapping up DEX enhancements and shifting focus to Phase 3—an ambitious project kept under wraps, known only to the core team. Lamboland emphasizes that this phase builds on their DEX and multi-chain aggregator, leveraging their capital, experience, and community to tackle something groundbreaking.

Moaruxyz jumps in with enthusiasm: "With all the data currently available, will @prjx_hl surprise us again in the upcoming Phase 3? Come on, man. No matter how many times you check the charts, only Project X keeps holding a top 3 spot in fees earned, even in this unpredictable market. Don't fade Project X. Project X is more than just a DEX 👊"

This isn't just hype—it's backed by metrics. Project X's total value locked (TVL) stands at $578.58 million, with annualized fees hitting $55.88 million. The chart shows a steady climb in fees since mid-year, peaking recently despite market volatility.

Why Phase 3 Could Be a Game-Changer

While details on Phase 3 remain secret, the foundation is clear: Project X has the tools and team to expand beyond a simple DEX. Speculation points to deeper integrations, perhaps enhancing liquidity across chains or introducing innovative features for perpetuals and spot trading on Hyperliquid. Given Hyperliquid's focus on on-chain order books and fast execution, Phase 3 might unlock new ways for meme tokens to gain traction, offering tools for community launches or advanced trading strategies.

For blockchain practitioners and meme token hunters, this means keeping an eye on Project X. It's not just about trading—it's about being part of a project that's evolving rapidly. With potential airdrops tied to points for staking and swapping (check out their points system), early involvement could pay off big.

Community Reactions and What's Next

Replies to the tweet echo the sentiment: from "@olamidde_" affirming "It’s more than just a DEX! Project X is built for the top!" to others like "@RobPaddict" hyping a "decentralized future." The consensus? Don't sleep on Project X.

As we await more reveals, Project X continues to dominate fee charts, proving its resilience. If you're into DeFi or meme tokens, head over to prjx.com to start trading or stake for points. Stay tuned—Phase 3 might just redefine what's possible on Hyperliquid.