entropy

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

entropy is the latest HIP-3 exchange on Hyperliquid.

The 100% maker rebate only supports their own trading pairs; currently, only ANTH and SNDK. Everyone, please don’t assume that every trade has cashback. Start early, and stack some points~
Invitation code https://entropy.io/?r=quantumstrider2048

#Entropy

⚰️ During the first half of the year, #خسر , the market has already had more than 80 cryptocurrency projects.
➠ Since the beginning of 2026, at least 80 cryptocurrency projects have announced that they have closed or suspended development.
➠ Of these, 16 previously received investments of no less than $10 million (excluding parent companies).
➠ The largest investments went to projects Yupp ($33 million), #Syndicate ($27.8 million), and #Entropy ($26.95 million). Their funding rounds were led by the a16z fund.
➠ The list is still growing. Just yesterday, platform #Oxium announced its closure.