The Entropy project has announced the raising of $14 million in funding led by Ribbit Capital, as well as $40 million in HYPE, which will be staked to develop trading markets on Hyperliquid.
Entropy’s first product will be a marketplace for trading Anthropic— the team calls it the first liquid way to gain exposure to the company before its IPO.
Entropy is developing infrastructure for trading assets that are difficult to bring onto conventional markets: pre-IPO companies, startups, commodities, indices, and other instruments. To this end, the project is building its own liquidity-weighted oracle that will take into account the real depth of the market and enable price discovery directly through the order book.
The team consists of former employees and traders from Citadel Securities, Optiver, Polymarket, and Millennium. The project’s first markets are already being launched on Hyperliquid.
Article featuring the project: https://dropscapital.com/material/23317