In partnership with
We scored multiple projects this week. Here are a few you should know about:
Turtle.Club
Felix
HyperLend
Freysa AI
Cooking.City
Please remember that some of these projects still need our code review process. Still, we want to highlight them here because they initially caught our attention through our fundamental analysis process.
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Now let’s get back to the hidden gems for the week.
1. Turtle.Club - 69.17%
Sector - DeFi
Status - Active
Turtle.Club is a Web3 distribution protocol designed to democratize access to liquidity and monetize on-chain activities. It addresses the lack of transparency and efficiency in DeFi capital markets by tracking and rewarding users for activities such as liquidity deployment, yield farming, swaps, staking, and referrals.
The solution utilizes trustless APIs to monetize these activities without exposing users to the risks or complexities of smart contracts, and operates across multiple blockchains. Turtle.Club leverages Hyperlane's cross-chain technology to enable seamless operations with its omni-chain Turtle token (TRT).
1.1. Features
Monetization of On-chain Activities: Tracks and rewards DeFi actions, such as swaps and staking, using trustless APIs, ensuring no additional risks.
Exclusive Deals: Offers members boosted yields on partner protocols, enhancing returns for participants.
DAO Framework: Aligns incentives among Web3 stakeholders, including liquidity providers, developers, venture capitalists (VCs), and auditors, fostering collaboration.
Zero Fees: Eliminates management and performance fees, allowing for self-custody of funds and user control.
Inclusive Access: Open to all participants, not just institutions, promoting broad accessibility and inclusivity.
Influence and Returns: Enables users to gain influence and increased yields within partner protocols, amplifying their DeFi impact.
1.2. Token
$TRT is the native utility token of the Turtle ecosystem, with a total supply of 1B, of which 64% is allocated for the community and the remaining 36% for non-community stakeholders, including the team, investors, and advisors.
1.2.1. Utility
Facilitates user participation and value accrual, driving long-term ecosystem engagement and value to TRT holders.
Use cases include liquidity provisioning, access to exclusive features, and incentives for ecosystem growth.
Token holders can participate in protocol governance, including decisions regarding treasury allocations, protocol updates, and changes to reward mechanisms.
Users can stake TRT tokens to earn additional incentives and increase their reward multipliers.
1.3. Investors
2. Felix - 65.42%
Sector - DeFi
Status - Active
Felix is a stablecoin protocol on Hyperliquid L1 that enables users to borrow its native stablecoin, feUSD, by depositing blue-chip collateral, such as HYPE and UBTC. It solves the challenges of limited liquidity and yield opportunities in DeFi by offering a censorship-resistant stablecoin and competitive borrowing rates.
Felix’s solution includes overcollateralized borrowing, enabling users to unlock liquidity and earn yield through activities such as margin trading, spot trading, and liquidity provision. The protocol utilizes smart contracts on Hyperliquid L1, with dynamic interest rates determined by on-chain inputs, including token balances and oracle prices.
2.1. Features
Minting feUSD Stablecoin: Felix allows users to deposit crypto assets as collateral to mint feUSD, a stablecoin pegged to the US dollar. This will enable users to access liquidity without having to sell their underlying assets.
Risk-Optimized Borrowing Model: The protocol enforces a conservative 40% loan-to-value (LTV) ratio, which reduces liquidation risk and promotes greater stability, especially during volatile market conditions.
Yield Generation via Stability Pools: Users can deposit their feUSD into Stability Pools to earn passive rewards from borrower interest payments and liquidation events, providing both income and protocol stability.
Security-First Design with Enhanced Safeguards: Felix is an audited fork of Liquity V2, featuring additional security measures, including mint caps, admin controls, and emergency pausing, to protect users and the protocol from potential exploits.
Integration and Incentives within the Hyperliquid Ecosystem: Felix is deeply integrated into Hyperliquid L1, supporting advanced DeFi strategies (such as leverage looping and carry trades).
2.2. Token
Live incentive program, where users earn points for their usage of Felix.
2.3. Investors
The Hyperliquid-native angel syndicate, HyperActive, has incubated Felix.
3. HyperLend - 63.75%
Sector - DeFi
Status - Active
HyperLend is a decentralized lending protocol on Hyperliquid’s EVM blockchain, tailored for traders, quants, and market makers. It addresses inefficiencies and risks in DeFi lending by offering real-time leverage, dynamic interest rates, and deep liquidity access.
HyperLend’s solution includes Core Pools for capital efficiency, E-mode for higher loan-to-value (LTV) ratios, and Isolated Pools to mitigate risk. The protocol utilizes transparent, audited smart contracts and relies on oracle providers such as Pyth and Redstone for accurate price data, ensuring reliability and security on Hyperliquid’s high-performance L1 chain.
3.1. Features
Flexible Lending and Borrowing Pools: HyperLend offers three types of lending pools: core (multi-asset), isolated (single-pair, risk-contained), and peer-to-peer, allowing users to supply or borrow assets under different risk and customization profiles.
Flash Loans and Advanced Leverage: Users can access instant, no-collateral flash loans for arbitrage or liquidation strategies, and open leveraged perpetual positions directly through the protocol, enhancing capital efficiency and trading flexibility.
Collateralized HLP Vaults and Yield Optimization: By depositing assets into HLP vaults, users can earn stable, real transaction-based yields and use these positions as collateral, enabling compounding strategies without needing to sell their tokens.
E-mode (Efficiency Mode): E-mode enables users to borrow with a higher Loan-to-Value (LTV) ratio when both the collateral and borrowed assets are from the same correlated category, such as stablecoins or staking derivatives.
3.2. Token
$HLP will be the native utility token of the HyperLend ecosystem. Since March 2025, a live incentive program has been in effect, where users earn points for actively contributing to the protocol's growth. Points are distributed every week.
Users can claim a Daily Drop once every 24 hours, provided they have a minimum of 100 points and have deposited at least $50 on the platform. This daily claim is designed to reward consistent participation and grows in value with your rank—the higher your rank, the greater your daily XP gain. Claiming the daily drop grants you XP, which accumulates throughout the week. At the end of each week, this XP is converted into points during the regular point distribution cycle.
4. Freysa AI
Sector - AI
Status - Active
Freysa AI is a pioneering framework for verifiable agent autonomy on blockchain systems, introduced as the world’s first evolving AI. It tackles the lack of true independence for AI agents by enabling independent interaction with blockchain networks using Intel TDX enclaves and smart contract wallets.
Freysa AI’s solution ensures cryptographic independence and verifiability, allowing AI agents to control their keys and resources. Operating on blockchain systems, it supports on-chain verification and resource management, with a roadmap to democratize agent sovereignty across various chains.
4.1. Features
Sovereign Agent Framework (SAF): The platform is built on a specialized framework that enables truly autonomous, self-improving AI agents to operate on-chain without human oversight, managing assets and making decisions independently.
Trusted Execution and Verifiability: Freysa leverages Trusted Execution Environments (TEEs) and zero-knowledge technologies to ensure cryptographic security, verifiable computation, and transparent, tamper-proof AI operations.
Core Agent Launch Platform: Enables deployment of autonomous agents with social media integration and token launch capabilities.
4.2. Token
$FAI is the native utility token of the Freysa AI ecosystem with a total supply of 8.1B, all of which is currently circulating in the market. FAI tokens grant holders the ability to participate in Freysa AI’s interactive adversarial game. FAI serves as the main in-game currency, enabling users to enhance their experience, interact with the AI, and transfer value within the Freysa ecosystem.
4.3. Investor
The Freysa AI team has raised $30M in May 2025 from Coinbase Ventures and Selini Capital.
4.4. Where to Buy the Token?
$FAI is listed on centralized exchanges such as Coinbase, Gate, and MEXC, as well as on decentralized exchanges like Uniswap, Aerodrome, and others.
5. Cooking.City
Sector - Launchpad
Status - Active
Cooking.City is a platform on the Solana network for fair on-chain token launches. It addresses unfair advantages and significant price drops in token launches by offering a fair launch model and protective mechanisms, such as the Conviction Pool.
Cooking.City’s solution includes a degree system to reward participation and a conviction pool to protect early buyers from losses. Leveraging Solana’s fast and cost-effective blockchain, it integrates with Raydium for efficient trading pools.
5.1. Features
Value Redistribution Model: Cooking.City redistributes the majority of its platform fees back to developers and users, creating a more equitable and incentive-driven ecosystem for all participants.
Conviction Pool: Protects early buyers from major losses and rewards those who incur losses, reducing rug pull risks.
Permissionless Pool Creation: Allows anyone to create pools without gatekeeping, promoting inclusivity.
Social-Based Value Distribution: The platform incorporates a referral commission system, redistributing fees for community referrals and trading rewards to encourage active participation and promote community growth.
5.2. Investor
The Cooking.City team raised $7M in May 2025 from CMT Digital, Mirana Ventures, Jump Crypto, Dragonfly, and other investors.
