Ask about Project X · freeTotal Value Locked$36.74m
TVL by Chain
Hyperliquid L1$36.74m
Key Metrics
Fees 30d$1.43m
Fees 30d by chain
Hyperliquid L1$1.43m
Fees 7d$605,556
Hyperliquid L1$605,556
Fees 24h$87,757
Hyperliquid L1$87,757
Cumulative Fees$44.32m
Hyperliquid L1$44.32m
Revenue 30d$203,916
Revenue 30d by chain
Hyperliquid L1$203,916
Revenue 7d$86,594
Hyperliquid L1$86,594
Revenue 24h$12,549
Hyperliquid L1$12,549
Cumulative Revenue$6.34m
Hyperliquid L1$6.34m
DEX Volume 30d$1.568b
DEX Volume 30d by chain
Hyperliquid L1$1.568b
DEX Volume 7d$679.98m
Hyperliquid L1$679.98m
DEX Volume 24h$95.09m
Hyperliquid L1$95.09m
Cumulative DEX Volume$46.429b
Hyperliquid L1$46.429b
Protocol Information
Project X is built on the belief that tech is becoming increasingly commoditized and the next era of DeFi will be won by innovating on distribution, incentive design and UX.
Sub Category: CLMM
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Swap fees paid by usersView code on GitHubRevenue: Percentage of swap fees going to treasury and/or token holdersView code on GitHubDEX Volume: Volume of all spot token swaps on the DEXView code on GitHubYields
Pools Tracked108
Average Supply APY11.89%
User Activity
Active Addresses (24h)2,556
Transactions (24h)51,124
Competitors
Project X history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jul 16, 2025 to Nov 5, 2026.
All-time high TVL: $123.59m on Oct 7, 2025. All-time low TVL: $32.94m on Jan 21, 2026.
Daily TVL, Oct 7, 2026 to Nov 5, 2026
| Date | TVL |
|---|---|
| Oct 7, 2026 | $40.11m |
| Oct 8, 2026 | $38.49m |
| Oct 9, 2026 | $36.88m |
| Oct 10, 2026 | $37.28m |
| Oct 11, 2026 | $37.46m |
| Oct 12, 2026 | $37.79m |
| Oct 13, 2026 | $35.85m |
| Oct 14, 2026 | $36.3m |
| Oct 15, 2026 | $35.7m |
| Oct 16, 2026 | $36.2m |
| Oct 17, 2026 | $35.66m |
| Oct 18, 2026 | $34.77m |
| Oct 19, 2026 | $34.52m |
| Oct 20, 2026 | $34.76m |
| Oct 21, 2026 | $35.64m |
| Oct 22, 2026 | $36.02m |
| Oct 23, 2026 | $34.81m |
| Oct 24, 2026 | $34.99m |
| Oct 25, 2026 | $34.12m |
| Oct 26, 2026 | $33.91m |
| Oct 27, 2026 | $34.57m |
| Oct 28, 2026 | $35.73m |
| Oct 29, 2026 | $36.22m |
| Oct 30, 2026 | $35.71m |
| Oct 31, 2026 | $36.25m |
| Nov 1, 2026 | $35.8m |
| Nov 2, 2026 | $35.63m |
| Nov 3, 2026 | $34.8m |
| Nov 4, 2026 | $35.23m |
| Nov 5, 2026 | $36.8m |
TVL at each month end, Jul 2025 to Nov 2026
| Date | TVL |
|---|---|
| Jul 31, 2025 | $48.28m |
| Aug 31, 2025 | $94.83m |
| Sep 30, 2025 | $80.67m |
| Oct 31, 2025 | $107.33m |
| Nov 30, 2025 | $63.86m |
| Dec 31, 2025 | $37.55m |
| Jan 31, 2026 | $41.77m |
| Feb 28, 2026 | $38.14m |
| Mar 31, 2026 | $42.08m |
| Apr 30, 2026 | $42.65m |
| May 31, 2026 | $47.37m |
| Jun 30, 2026 | $41.98m |
| Jul 31, 2026 | $36.84m |
| Aug 31, 2026 | $45.23m |
| Sep 30, 2026 | $39.19m |
| Oct 31, 2026 | $36.25m |
| Nov 5, 2026 (latest) | $36.8m |
Fees and revenue by UTC calendar month, Jul 2025 to Nov 2026
| Month | Fees | Revenue |
|---|---|---|
| Jul 2025 | $1.31m | $187,805 |
| Aug 2025 | $4.48m | $641,097 |
| Sep 2025 | $5.41m | $773,724 |
| Oct 2025 | $5.02m | $718,199 |
| Nov 2025 | $3.73m | $533,471 |
| Dec 2025 | $1.95m | $279,030 |
| Jan 2026 | $2.16m | $308,580 |
| Feb 2026 | $2.62m | $374,704 |
| Mar 2026 | $2.04m | $291,284 |
| Apr 2026 | $1.34m | $191,453 |
| May 2026 | $2.82m | $403,223 |
| Jun 2026 | $4.01m | $573,631 |
| Jul 2026 | $1.55m | $221,206 |
| Aug 2026 | $2.09m | $299,216 |
| Sep 2026 | $2.07m | $296,182 |
| Oct 2026 | $1.48m | $212,331 |
| Nov 2026 (to date) | $316,532 | $45,263 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/project-x
Frequently asked questions
What is Project X's TVL?
As of Nov 5, 2026, Project X has $36.74m in total value locked. TVL has decreased 9.4% over the past 30 days.
What chains does Project X operate on?
Project X operates on Hyperliquid L1. Hyperliquid L1 holds the largest share at 100%.
How much has Project X generated in fees and revenue?
Over the past 30 days, Project X generated $1.43m in fees. Of that, $203,916 was protocol revenue. Based on the trailing year, the annualized rate is $27.44m in fees and $3.92m in revenue.
How does Project X's TVL compare to similar protocols?
Among Dexs protocols tracked by DefiLlama, Project X ranks #34 by TVL. The category holds $13.14b across 1,928 protocols, and Project X accounts for 0.3% of that total. Similar protocols include Uniswap V4, Curve DEX, Hyperliquid Spot Orderbook, nest CL, Metric V1, Balancer V3, HyperSwap V3, Ramses CL V2, HyperSwap V2, and WOOFi Swap.
How much trading volume does Project X process?
Project X processed $1.568b in DEX volume over the past 30 days.