Ask about Project X · freeTotal Value Locked$35.76m
TVL by Chain
Hyperliquid L1$35.76m
Key Metrics
Fees 30d$1.53m
Fees 30d by chain
Hyperliquid L1$1.53m
Fees 7d$238,488
Hyperliquid L1$238,488
Fees 24h$41,735
Hyperliquid L1$41,735
Cumulative Fees$43.48m
Hyperliquid L1$43.48m
Revenue 30d$219,368
Revenue 30d by chain
Hyperliquid L1$219,368
Revenue 7d$34,097
Hyperliquid L1$34,097
Revenue 24h$5,969
Hyperliquid L1$5,969
Cumulative Revenue$6.22m
Hyperliquid L1$6.22m
DEX Volume 30d$1.5b
DEX Volume 30d by chain
Hyperliquid L1$1.5b
DEX Volume 7d$264.71m
Hyperliquid L1$264.71m
DEX Volume 24h$48.09m
Hyperliquid L1$48.09m
Cumulative DEX Volume$45.482b
Hyperliquid L1$45.482b
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 Tracked91
Average Supply APY8.51%
User Activity
Active Addresses (24h)1,684
Transactions (24h)33,052
Competitors
Project X history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jul 16, 2025 to Oct 21, 2026.
All-time high TVL: $123.59m on Oct 7, 2025. All-time low TVL: $32.94m on Jan 21, 2026.
Daily TVL, Sep 22, 2026 to Oct 21, 2026
| Date | TVL |
|---|---|
| Sep 22, 2026 | $40.95m |
| Sep 23, 2026 | $41.98m |
| Sep 24, 2026 | $41.19m |
| Sep 25, 2026 | $41.74m |
| Sep 26, 2026 | $41.48m |
| Sep 27, 2026 | $41.44m |
| Sep 28, 2026 | $41.17m |
| Sep 29, 2026 | $39.56m |
| Sep 30, 2026 | $39.19m |
| Oct 1, 2026 | $40.3m |
| Oct 2, 2026 | $40.07m |
| Oct 3, 2026 | $40.61m |
| Oct 4, 2026 | $40.68m |
| Oct 5, 2026 | $39.96m |
| Oct 6, 2026 | $40.54m |
| 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 |
TVL at each month end, Jul 2025 to Oct 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 21, 2026 (latest) | $35.64m |
Fees and revenue by UTC calendar month, Jul 2025 to Oct 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 (to date) | $874,475 | $125,044 |
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 Oct 21, 2026, Project X has $35.76m in total value locked. TVL has decreased 14.9% 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 $1.53m in fees. Of that, $219,368 was protocol revenue. Based on the trailing year, the annualized rate is $28.88m in fees and $4.13m in revenue.
How does Project X's TVL compare to similar protocols?
Among Dexs protocols tracked by DefiLlama, Project X ranks #33 by TVL. The category holds $14.178b across 1,920 protocols, and Project X accounts for 0.3% of that total. Similar protocols include Curve DEX, Hyperliquid Spot Orderbook, nest CL, Balancer V3, Metric V1, Ramses CL V2, HyperSwap V3, HyperSwap V2, Valantis STEX, and WOOFi Swap.
How much trading volume does Project X process?
Project X processed $1.5b in DEX volume over the past 30 days.