Hydrex, a project within the Base ecosystem, saw its token HYDX soar over 40% on October 11, 2025, even as the broader cryptocurrency market faced declines. The project, which focuses on liquidity coordination, boasts a total value locked (TVL) of $13 million and supports over 250 assets. It has processed $178 million in cumulative trading volume. Hydrex offers three account types—Liquid, Flex, and Protocol—each with unique staking and reward features. The project integrates with external decentralized exchanges on Base and follows a 'liquidity-neutral' strategy. Notably, the team behind Hydrex remains anonymous, and the project has not engaged in traditional VC funding or pre-sales, instead receiving backing from Peapods Finance and Coinbase's Builder Grant. The tokenomics of HYDX include an initial supply of 500 million, with plans to permanently burn 90% through protocol accounts.