Entropy.io operates as an independent market deployer within Hyperliquid’s HIP-3 framework, enabling perpetual contracts on a variety of assets. These include stocks, commodities, indices, and pre-IPO shares.

In its latest financing, Entropy.io secured $14 million in a round led by Ribbit Capital. The deal is accompanied by $40 million in HYPE staking support, and its first market, Anthropic Pre-IPO, has gone live on Hyperliquid.

Entropy.io’s role under Hyperliquid’s HIP-3 structure is to deploy new markets independently, expanding access to perpetual contracts across traditional and pre-IPO instruments.