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Project X vs Hyperliquid

SwanBluechip verdict

SwanBluechip rates Hyperliquid 9/10 versus Project X 6/10, so Hyperliquid is the higher-conviction pick today — but the right call depends on what you need. Compare the takes below.

MetricProject XHyperliquid
SwanBluechip Score6/10 · Watching9/10 · Bluechip
CategoryDEXPerp DEX / L1
StatusFarmableSeason 3
AirdropTGE PendingPoints Live
TVLMid$2.8B
HIP layer——
Referral availableYesYes
Project X 6/10 · Watching

Points live since Jul 2025, favored by the top EVM addresses that historically received the most airdrops.

Full Project X review → Start with Project X (referral)
Hyperliquid 9/10 · Bluechip

The base layer. Season 3 farming is live — trading, staking and ecosystem use feed HYPE eligibility.

Full Hyperliquid review → Start with Hyperliquid (referral)
The SwanBluechip Score is independent editorial opinion, not financial advice. See the methodology, or browse the full ecosystem map. SwanBluechip earns referral credits on some outbound links.