Entropy is a HIP-3 market deployer on Hyperliquid that operates perpetual futures markets covering global equities, commodities, indices, and long-dated pre-IPO companies. Through HIP-3, independent teams can create and manage their own perpetual markets using Hyperliquid’s matching engine while determining the assets, oracle systems, and leverage limits for those markets. Entropy announced a $14 million funding round led by Ribbit Capital on August 24, 2026, the same day its first markets went live. The 500,000 HYPE bond required for HIP-3, valued at approximately $40 million, was provided by treasury company Hyperion DeFi through a partnership rather than being funded directly by Entropy.
https://entropy.io