Project X is an innovative decentralized exchange (DEX) built on HyperEVM, a new Ethereum-compatible blockchain developed by Hyperliquid. As the first native AMM-style DEX on this emerging chain, Project X aims to provide fast, low-cost, and user-friendly token swaps—with the goal of becoming the core trading hub across EVM-compatible networks.
What sets Project X apart is its focus on community-first incentives, deep DeFi integration, and seamless user experience. With features designed to scale and evolve, the project is already gaining serious traction in its early phase, and more importantly—it’s running an active airdrop campaign based on point farming.
*Advertisement.*
What Is Project X?
Project X functions as an automated market maker (AMM) protocol—similar in structure to Uniswap—allowing users to swap tokens, provide liquidity, and earn from trading fees without custodial risks.
It integrates with Privy.io for secure wallet connections and leverages Hyperliquid’s infrastructure to offer ultra-low latency and minimal fees.
Phases of Development
Phase 1 (Current)
- Native DEX on HyperEVM
- Focused on liquidity provision and token swaps
- Achievements so far:
- $250M in volume in the first week
- $40M TVL in 7 days
Phase 2 (Coming Soon)
- Expansion into an EVM-wide aggregator, enabling cross-chain trades without complex bridges.
Phase 3 (Undisclosed)
- Details not yet public, but likely to expand functionality further
Security and Governance
- 100% community-owned and self-funded (no VCs, angels, or private sales)
- Audited by 0xQuit and PeckShield
- Wallet integrations secured via Privy.io
- Governance and token distribution focused on rewarding active users, creators, and liquidity providers
How to Farm the Project X Airdrop
The airdrop is confirmed and currently in its farming phase. Users earn points for interacting with the protocol, which will determine the allocation of the $PRJX token.
*Advertisement.*
Point System Overview
- 1 million points are distributed daily
- Points are awarded based on on-chain activity such as:
- Trading/swaps
- Providing liquidity
- Requires assets like USDC and HYPE
- Estimated cost of entry: $5 to $150, depending on activity level
How to Participate: Step-by-Step
Step 1: Move Funds to HyperEVM
You’ll need assets on the HyperEVM chain to interact with Project X. While using a bridge is the simplest option, the recommended method is to:
- Deposit into Hyperliquid
- Transfer funds from Hyperliquid to HyperEVM
This ensures you’re interacting with both platforms, increasing your exposure to potential airdrops from Hyperliquid as well.
Need help? Read our full article on Hyperliquid and HyperEVM.
Step 2: Visit the Project X App
- Go to the official Project X website
- Connect your wallet
Step 3: Interact to Earn Points
There are two main ways to accumulate points:
Option 1: Make Swaps
- Trade tokens like HYPE ↔ USDT0, USDC ↔ WETH, etc.
- Higher volume = more points (within system limits)
Option 2: Provide Liquidity
- Add liquidity to existing pools
- Choose pairs with high volume or better fee incentives
Providing liquidity tends to reward more points over time, especially if your capital stays in the pool.
*Advertisement.*
Why Project X Matters
Part of the Growing HyperEVM Ecosystem
- Project X is native to HyperEVM, giving it early mover advantage
- As HyperEVM expands, the first DEX often becomes the liquidity foundation of the ecosystem
Tied to the Hyperliquid Narrative
- Hyperliquid still has airdrops to distribute, and many expect the next season to emphasize HyperEVM interactions
- Engaging with protocols like Project X now may increase your eligibility for future Hyperliquid distributions
No VCs, No Private Sales
- Distribution is 100% to the community
- Aligns with the ethos of “real DeFi”—rewarding users, not insiders
It’s Actually a Good Product
- Low slippage and fast execution
- Deep liquidity for a new network
- If you’re already using HyperEVM, this is likely the best place to trade tokens anyway
Final Thoughts
Project X represents a rare blend of:
- Early exposure
- Proven product-market fit
- Transparent airdrop mechanics
- Deep integration with a growing Layer 2 ecosystem (HyperEVM)
Even if you’re not aiming to maximize this airdrop, simply using Project X as your DEX of choice on HyperEVM could prove rewarding in the near future.
And if you’re serious about farming—Project X’s daily point system is one of the most straightforward and accessible campaigns currently active.
Source Links
Disclaimer
This is not financial advice. If you decide to interact with the mentioned protocols, you do so at your own risk. Airdrop Guild is not responsible for any potential losses resulting from participation. Always do your own research before engaging with blockchain-based projects.