GM☕️ These past two days, everything has been covered by Entropy.
On the perp platform running on Hyperliquid HIP-3, they want to turn things like pre-IPO companies such as Anthropic, global stocks, and RWA into 24/7 perpetual contracts. The first batch is already live on ANTH and SNDK.
The project just raised $14 million, led by Ribbit Capital. It also received support in the form of 500,000 HYPE tokens staked—an announcement said the figure is about $40 million. (Note: this $40 million isn’t an investment; it’s the staking threshold needed to open the market on HIP-3.)
As for normal interaction—this is something I haven’t “eaten meat” from in a long time. Project teams have gotten smarter too: the more they airdrop, the less they give—some don’t even send anything at all.
Quietly venting: the setup from Ethos Network recently is pretty ruthless. I messed around with a few seasons of XP; in the end there was no free airdrop. They put 20% up for public auction, and the XP-linked bonus is only 1%🫠
The projects I’m still interacting with are now few and far between:
- For perps, there’s only Variational left. They call it “interaction,” but really it’s just redirecting some portion of trades that were going to be done anyway;
- Prediction markets are basically placing one order every day on Polymarket.
Entropy is the same: it’s all about participation. Later they’ll just break off some portion of transactions to route over—do whatever.
And referral commissions aren’t being competed for anymore. With such a small amount of visibility to begin with, there’s nothing meaningful to “race” for🤣
As for airdrops: if they give, they give; if not, then too bad. I honestly don’t have the drive to keep doing free labor for project teams every day anymore.
#Entropy #Hyperliquid