Hey there, crypto enthusiasts! If you've been keeping an eye on the blockchain space, especially around decentralized exchanges (DEXs), you've probably heard the buzz about Project X. This innovative platform, built on HyperEVM—a high-performance layer-1 blockchain optimized for DeFi applications—is making waves with its skyrocketing Total Value Locked (TVL). For those new to the term, TVL refers to the total amount of assets deposited into a protocol, essentially measuring its popularity and liquidity.

Recently, a tweet from Munch (@munchPRMR), an onchain muncher who's been hyping this for weeks, highlighted just how explosive this growth is. Project X's TVL has climbed to a whopping $74,649,812, and it's showing no signs of slowing down. Munch predicts it'll hit $100 million soon, and with that comes tougher competition for maintaining leaderboard ranks.

Why the Hype Around Project X?

Project X positions itself as a first-of-its-kind DEX on HyperEVM, blending seamless trading with rewarding user engagement. Unlike traditional exchanges, DEXs like this one allow you to trade directly from your wallet without intermediaries, all while earning points that could lead to future airdrops or rewards. Points farming, in simple terms, is like loyalty programs in crypto—complete quests, deposit assets, or refer friends to rack up points that might convert to tokens later.

Munch's thread emphasizes that if you haven't jumped in yet, you're running out of time to front-run the crowd. As TVL rises, earning points will get harder because more users mean diluted rewards. He's been "shoving this down your throats for basically a month now," and it's easy to see why: early farmers are poised to smile big when Phase 2 rolls out.

What's Coming in Phase 2?

Speaking of Phase 2, this upcoming update is set to integrate other EVM-compatible chains (Ethereum Virtual Machine chains, which are blockchains that run Ethereum-like smart contracts). This could expand Project X's reach, allowing cross-chain liquidity and more opportunities for meme tokens and other assets to thrive. Imagine trading your favorite Solana-based memes on a HyperEVM DEX—Phase 2 might make that smoother.

The referral system is a key entry point. Using a link like Munch's referral gives you a boost: sign up, and both you and the referrer get extra points—often a 10% bump as seen in similar promotions. It's a win-win, building community while rewarding participation.

Replies and Community Vibes

The thread sparked positive reactions from the community. Users like @BOBBYBIGYIELD chimed in with "You love to see it," while @AdebiyiChosen simply said "Higher." Others noted that early farmers will reap the benefits in Phase 2, and questions popped up about point calculations and how TVL impacts earning difficulty. It's clear the excitement is building, with replies echoing the sentiment that TVL will keep climbing—maybe even to $1 billion someday.

If you're into meme tokens, keep an eye here too. As DEXs like Project X grow, they become hotspots for launching and trading viral memes, especially with cross-chain features on the horizon. Platforms like this enhance liquidity for quirky assets, helping blockchain practitioners stay ahead.

Final Thoughts: Don't Miss the Boat

With TVL on a tear and Phase 2 approaching, now's the prime time to dive into Project X. Head over to their site via a referral link to maximize your points. Whether you're a seasoned DeFi degen or just dipping your toes into crypto, farming here could pay off big. Stay tuned to Meme Insider for more updates on emerging projects and meme token

- The post mentions TVL for @prjx_hl reaching nearly $75M, predicting $100M soon.
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For the full thread, check it out here. What's your take? Are you farming points yet?

- It also urges farming points before Phase 2, integrating other EVM chains.