Entropy’s Pearl perp market became the largest and most liquid, one day after launch.
Financializing compute has always been of interest to me, and I’ve been following Pearl since shortly after the first whitepaper. I remember wondering at the time if they could overcome the verification issue that sidelined other compute projects. Having since met the team, it's clear why they were the ones to solve it.
Entropy is working to make frontier assets more accessible. Pearl fits that bill exactly: if it scales, it could universally drive down the cost of compute. A more liquid market for Pearl directly contributes to that end.
Excited for more listings like pearl-2:native
1/ We are excited to list PEARL, and are extremely aligned with our friends @prlnet in their mission to make the frontier of inference more useful and efficient.
Great read from @matt_levine. The pricing gap does not have to be a persistent issue. Holders of the underlying can sell the perp against it, and we’re seeing institutional prime brokers start to hedge equity exposure this way.
Pleased to announce the start of Entropy badges.
These will go to the Entropy community members who contribute most in any form: Trading, deeply engaging with the research, or consistently posting high quality content.
I’ll be hand-distributing badges daily.
Kintsugi retweeted
The first set of Entropy affiliate badges have been distributed.
If you post about markets, break news, or build an audience that actually trades, you qualify.
Excited to launch the Entropy Partners program.
It's been really enjoyable seeing the community make all sorts of content about Entropy: how-to guides, research on liquidity and market design, even mockups of future merch.
The Partners program is designed to reward that type of involvement more effectively than our existing referral system.
The form to apply is linked below. We will personally review every submission.
docs.google.com/forms/d/e/1F…
This breakthrough was front-run on the OpenAI pre-IPO market before OpenAI's announcement.
Perpetual futures have enabled pre-IPO price discovery.
We’re sharing a solution to the Navier-Stokes Millennium Prize Problem, one of the deepest problems at the frontier of mathematics.
The proof was produced by a group of agents, using an OpenAI next-generation model significantly more capable than GPT-6 Astra.
The problem concerns whether the description of smooth three-dimensional fluid motion modeled by the Navier-Stokes equations can break down. It has remained unresolved for roughly 90 years.
Come trade the frontier
Sampled some 1-min data on $ANTH (Anthropic) pre-IPO perps over the weekend across:
- @variational_io
- @Lighter_xyz
- @entropyIO
Figure shows estimated slippage on a $100k market order, averaged between buys and sells.
Despite its recent launch, Entropy has by far the best execution with a mean cost of 36bps from mid over this period vs 92bps for Lighter and 126bps for Variational.
Worth noting that $ANTH trades at a relative premium on Entropy, so venue selection also depends on the direction you’re taking.
Entropy drove price discovery for @OpenAI, before, during, after the model launch. Pre-IPO markets have reached a new paradigm shift.
Kintsugi retweeted
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Working with a team of talented folks who are obsessed with markets is truly an honor
We are releasing the first liquid way to trade Anthropic.
For far too long, frontier assets have only been accessible to a select few. We are here to bring them to the masses.
Introducing EntropyIO. We’ve raised $14M led by Ribbit Capital and a $40M HYPE stake to build both improved and entirely new markets, the first of which are live on Hyperliquid today.