In the fast-paced world of blockchain and DeFi, it's easy to overlook the real builders behind the hype. But a recent tweet from @Obesepotato_hl shines a spotlight on Project X (PRJX), a rising star on the Hyperliquid ecosystem. Posted on August 15, 2025, the tweet praises the efforts of @Lamboland_ and @BOBBYBIGYIELD for bringing massive liquidity and users to Hyperliquid, all while generating impressive real-world fees. If you're into meme tokens or DeFi, this is a story worth diving into.

Let's break it down. Hyperliquid is a high-performance Layer 1 blockchain designed for decentralized finance (DeFi), with HyperEVM as its EVM-compatible side for seamless smart contract deployment—think Ethereum but faster and more efficient. Project X, or PRJX, is the first automated market maker (AMM) DEX built on HyperEVM, similar to Uniswap on Ethereum. It allows users to trade tokens, provide liquidity, and manage portfolios effortlessly. Launched just a month ago, it's already in "phase 1," focusing on core DEX features, with two big product updates on the horizon.

The tweet quotes a post from @Lamboland_, highlighting that PRJX is earning the most fees out of any protocol on HyperEVM—clocking in at nearly $300K in 24-hour fees. That's huge for a young project! As @Obesepotato_hl points out, "You may can fake TVL but can't fake fees," emphasizing that these numbers reflect genuine activity, not inflated metrics. Total Value Locked (TVL) is the amount of assets staked or locked in a protocol, but fees show real trading volume and user engagement.

Look at this chart from the original post: It shows PRJX towering over other protocols in fees paid, proving its dominance. And the TVL growth? Equally impressive, as seen in this DefiLlama snapshot shared in the thread, climbing steadily toward $80M.

What makes PRJX stand out for meme token enthusiasts? Hyperliquid is home to a vibrant meme coin scene, with tokens like PURR (the original meme on the chain), PIP, JEFF, and others gaining traction. PRJX's DEX makes it super easy to launch, trade, and farm these memes. Users aren't just chasing airdrops—rewards distributed to early participants—they're actually making daily profits through trading. The tweet mentions daily screenshots from users, many coming from other chains like Solana or Ethereum, sharing their wins. This cross-chain migration is injecting fresh liquidity into Hyperliquid, supercharging the ecosystem.

Despite the haters calling it "just a DEX," @Obesepotato_hl defends the project: "people are making money daily... It's not about airdrop farming, people making daily money + getting points is a bonus." And with a small team, the founders are grinding every day to improve it. The community response in the replies echoes this sentiment—folks like @0xBellinili calling it "insane for just 1 month!" and @BOBBYBIGYIELD hyping phase 2.

If you're new to this, getting started is straightforward. Head over to the Project X website to trade or farm points. For a deeper dive into Hyperliquid's meme tokens, check out resources like CoinGecko's Hyperliquid Ecosystem page. As the ecosystem grows, PRJX could be the gateway for the next wave of meme token mania.

In a space full of hype, PRJX proves that real utility and user value win out. Keep an eye on this one—phase 2 might just take it to the moon. What do you think? Drop your thoughts in the comments or join the conversation on the original tweet.