Is Project X Safe?
Risk Grade: C+ (41/100)
Project X is rated as elevated risk — multiple novel mechanisms and notable interaction risks.
Project X offers competitive LP yields on a fast-growing HyperEVM ecosystem, but the combination of pseudonymous team, no legal entity, self-funding, and new chain infrastructure creates a risk profile unsuitable for conservative capital. The Uniswap V4 fork base provides some code-level confidence, but custom modifications and HyperEVM-specific risks remain under-evaluated. Best suited for risk-tolerant DeFi users comfortable with early-stage ecosystem exposure.
Project X is an automated market maker DEX built on Hyperliquid's HyperEVM, forked from Uniswap V4. It offers concentrated liquidity trading with 86% of fees going to liquidity providers. The project is self-funded by pseudonymous developers and has no token yet.
TVL
$44M
Mechanisms
6
Interactions
5
Value Grade
D-
Key Risks for Project X Users
Run by anonymous developers with no legal entity — higher risk of abandonment or rug pull compared to established DEXes
Built entirely on HyperEVM, a new and less battle-tested chain — infrastructure failures could trap your funds
No token yet — TVL is largely driven by airdrop farming that may evaporate once points convert to tokens
Top Risk Factors
- •Project X is run by pseudonymous developers (@Lamboland_ and @BOBBYBIGYIELD) with no legal entity disclosure, leaving users with no recourse if the team disappears or acts maliciously — a classic rug pull risk profile.
- •The protocol launched in July 2025 and reached $40M+ TVL within days, but has minimal track record. Being 100% self-funded with no VC backing means limited financial resilience during a crisis or exploit.
- •As a Uniswap V4 fork on HyperEVM, Project X inherits any upstream vulnerabilities while operating on a relatively new and less battle-tested EVM environment (Hyperliquid's HyperEVM).
Risk Score Breakdown
Project X's highest risk area is Vitality Risk (7/10). Here's how each dimension contributes to the overall 41/100 score:
Read the Full Project X Risk Report
This protocol has 2 collapse scenarios. 2 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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