Hyperliquid has made significant strides in decentralized finance. However, the ambitious Project X, built on Hyperliquid’s layer-1 HyperEVM chain, envisions making DeFi more accessible while aiming to become the preeminent frontend for the entire ecosystem.

In a crowded space deploying similar platforms, Project X emphasizes a distribution-first strategy. Rather than focusing solely on technical innovation, the project prioritizes mass market adoption through strategic marketing, superior user experience, and carefully designed incentives.

According to Project X contributors, a significant opportunity lies in shifting focus beyond mature DeFi infrastructure. While base infrastructure now exists through wallets, on-ramps, and exchanges, the team believes the real breakthrough will be achieved by making crypto accessible to mass audiences.

“I think crypto is at this really interesting point,” a Project X contributor known as Bobby told Decrypt. “We’ve seen wallet infrastructure like Privy become strong enough to onboard normies. On-ramps and off-ramps are improving… Hyperliquid perps have basically commoditized what it means to build an exchange.”

“…and soon, aggregation, bridging, and on-chain spot trading complexities will be abstracted away too. The base layer is nearly strong enough, and when it is, everything will grow very quickly. The teams who will win are those who understand distribution and incentives really well.”

The project’s first phase centers on launching an Automated Market Maker (AMM) decentralized exchange on HyperEVM.

Project X: “We’re like Uniswap with rizz,” a contributor explained, signifying its focus on refined, user-centric execution.

The team believes significant innovation has been lacking for AMM DEXs since 2021. While platforms like Uniswap and PancakeSwap remain profitable, incumbents have allegedly become complacent.

“Our thesis is that over the next decade, the Lego blocks in crypto will shift… Until now, it’s been deep tech. Now it’s moving toward user-facing, frontend-friendly products.”

According to Bobby, truly good user experience cuts beyond aesthetics. “Good UX isn’t about how pretty the app looks. If you have to onboard from one place, swap, then bridge elsewhere… that’s a terrible experience. UX is how easily a user can complete the action they want.” Project X achieved this with an intuitive LP interface users reportedly initially didn’t believe existed on HyperEVM.

“We built our own version. You just drag the slider, see the APR go up or down, and click. It’s insanely simple.”

Lower fees and a strategically designed points system representing LP rewards are also part of their strategy.

A key differentiator is the ability to list and LP more assets than Hyperliquid itself supports, capturing the “long tail” of Hyperliquid’s expanding ecosystem.

Hyperliquid’s rapid growth is of immense importance. “The Hyperliquid ecosystem is the best opportunity in all of crypto,” argued Lamboland. “That’s why we chose to build here.”

Currently self-funded, the team is leveraging its following on X to onboard users to the new DEX in exchange for points. “We want to do to AMM DEXs what Hyperliquid did to perp DEXs,” project X highlighted.

“Attention is the scarcest asset in crypto,” the team stated. “But rarely is it compounded into a sustainable DeFi product. We want to change that.”