Anthropic valuation first on-chain, emerging player Entropy seizes Pre-IPO market
- Entropy completed $14 million in financing led by Ribbit Capital and locked up $40 million in HYPE tokens as staking collateral.
- Entropy's first pre-IPO perpetual contract, ANTH, is linked to the equity valuation of AI unicorn Anthropic.
- The investment by Ribbit Capital reflects a trend of traditional assets migrating to on-chain derivatives.
- Entropy's team combines expertise from Wall Street and the crypto space, focusing on asset pricing and risk control.
- Entropy has developed a liquidity-weighted oracle for pricing pre-IPO contracts, addressing issues with traditional pricing methods.
On August 25, Entropy, an independent market deployer based on the Hyperliquid HIP-3 framework, announced it had completed $14 million in financing led by top-tier VC Ribbit Capital, while also locking up about $40 million worth of HYPE tokens as staking collateral.
With the venture capital and staked funds in place, its first pre-IPO perpetual contract, ANTH, anchored to the equity valuation of AI unicorn Anthropic, officially went live on the Hyperliquid mainnet.
The investment is not only recognition of Entropy as a single project, but also a sign that venture capital is betting on the trend of "traditional assets migrating to on-chain derivatives."
Entropy has made targeted improvements to oracle pricing and the funding rate mechanism, including the development of a liquidity-weighted oracle that dynamically fuses external private-market benchmark data with internal order book prices, addressing the challenges faced by on-chain derivatives.
This combination of expertise aims to target the fundamental pain points of on-chain derivatives for traditional assets, enhancing the pricing logic and risk-control systems necessary for effective market operations.
Anthropic估值首次上链，新兴玩家Entropy抓住Pre-IPO市场
8月25日，基于Hyperliquid HIP-3框架的独立市场部署者Entropy宣布完成了由顶级风险投资公司Ribbit Capital主导的1400万美元融资，同时锁定了约4000万美元的HYPE代币作为质押担保。
在风险资本和质押资金到位后，其首个与AI独角兽Anthropic的股权估值相关联的Pre-IPO永续合约ANTH正式在Hyperliquid主网上线。
这项投资不仅是对Entropy作为单一项目的认可，也是风险投资押注于“传统资产向链上衍生品迁移”趋势的标志。
Entropy对预言机定价和资金利率机制进行了有针对性的改进，包括开发了一种流动性加权的预言机，动态融合外部私有市场基准数据和内部订单簿价格，解决了链上衍生品面临的挑战。
这种专业知识的结合旨在解决传统资产链上衍生品的基本痛点，增强有效市场运作所需的定价逻辑和风险控制系统。