How We Verify Figures

Primary Sources

For any claim involving a specific number, we cite from primary sources first and secondary aggregators second. Specifically:

• Entropy's official documentation (docs.entropy.io), the authoritative source for fee schedules, referral tiers, margin mechanics, and market parameters for io:ANTH and io:SNDK. Every docs page is also readable as clean markdown by appending .md to the URL, which is what we cite from directly.
• The Hyperliquid API (api.hyperliquid.xyz), the underlying settlement layer Entropy's markets run on. We query it directly for open interest, funding rates, growth-mode status, and margin mode, because Entropy's own docs occasionally disagree with what the API reports. For example, the docs say strict-isolated margin is “not enabled” while the API reports both live markets running it. When that happens, we trust the API and say so.
• DefiLlama, used to cross-check Entropy's reported fee and volume figures against an independent aggregator, and to compare Entropy against other HIP-3 deployers like trade.xyz, Paragon, and HyENA.
• Named news outlets (CoinDesk, The Block, The Defiant, Crypto Briefing, Protos, and similar) for incident reporting and competitor status, such as the Ventuals shutdown and the SK Hynix oracle incident on trade.xyz. We attribute specific figures to the outlet that reported them rather than presenting them as our own finding.
• Entropy's own shipped web app. Some details, like the builder-fee approval ceiling or the referral payout status ladder, are not documented anywhere and are only observable in the product itself. Where we report those, we say plainly that it comes from the app, not the docs.

Baseline Figures We Hold to Source

These are the primary-source numbers every fee, tier, and comparison claim on the site is checked against, verified 2026-08-26 from Entropy's fee documentation and the live Hyperliquid API:

• Trading fees: Entropy publishes 0.030% maker / 0.090% taker on HIP-3 markets, the standard rate every HIP-3 deployer inherits from Hyperliquid at 2x the base perp rate. Growth Mode is confirmed active on both io:ANTH and io:SNDK, which scales fees by 0.1, bringing the rate traders actually pay to roughly 0.0030% maker / 0.0090% taker. We cross-checked this against DefiLlama's reported 24h fee figure and found the two within about 0.4% of each other.
• Referral tiers: published percentages are calculated against Entropy's roughly 50% share of the trading fee, not the total fee a trader pays. At the entry tier, the headline “25%” benefit works out to about 12.5% of what a referred trader actually pays. This applies only to Entropy-deployed markets (io:ANTH and io:SNDK), not the 317 other markets its frontend aggregates from other operators.
• Non-trading fees: a one-time $1 Hyperliquid account activation fee, a $1 standard bridge withdrawal fee (minimum $5), and a roughly $0.20 fee on the Circle CCTP deposit route, per Entropy's docs.
• Market coverage: Entropy runs exactly two markets of its own, io:ANTH (Anthropic pre-IPO) and io:SNDK (SanDisk equity), and its frontend separately aggregates markets from other HIP-3 deployers, chiefly trade.xyz. We name the deployer of any market we discuss rather than describing it as Entropy's.
• Live data cadence: figures like open interest, 24h notional, and funding rate move constantly on a market this new. Where a page states a specific number, we date-stamp it and link the live source rather than let it go stale.

When any of these change at the source, the affected pages are updated and their Last Verified date is bumped.

What We Mark Unverified

Entropy is a pseudonymous team seven days into public trading as of this writing. A number of commonly repeated claims about it, including individual team members' names and roles, the round's valuation, and the reason certain markets (io:OAI, io:IONQ, io:NBIS) were delisted without ever trading, have no public source we could verify. Where a figure or claim falls into that category, we either mark it unverified explicitly or leave it out. We do not fill a gap with a plausible-sounding guess, and we do not speculate about why a design decision was made.

Review Cadence

Every guide carries a Last Updated date in the byline. Pages covering time-sensitive figures (fees, referral tiers, open interest caps, jurisdiction restrictions) carry a Last Verified date indicating the most recent manual data check, which is usually more recent than the content-edit date.

Because Entropy is a newly launched venue where volume, open interest and fee comparisons can move meaningfully day to day, high-priority guides (fees, deposits, security, restricted countries) are re-checked frequently in the weeks after launch and on a regular cadence afterward. Live data widgets that pull from the Hyperliquid API refresh on page load.

Limitations

Figures on a seven-day-old trading venue change quickly. The Last Verified date represents the last time a human manually confirmed the figure against a primary source. Between verification dates, figures may drift, particularly open interest, 24h volume, and fee-share comparisons against other deployers. When accuracy matters for a decision you're about to make, always cross-check against the primary source linked from the article, or query api.hyperliquid.xyz directly.

Reporting Outdated Figures

If you spot a figure on this site that looks out of date or wrong, please report it. The fastest path is a direct message to @Concept211 on X or an email to [email protected]. Include the URL, the figure, and the source you're comparing against.

Editorial Independence and Disclosure

EntropyGuides.com earns revenue from referral links (see the About page for full disclosure). This does not influence which figures we publish or how we describe Entropy's mechanics and risks. Where Entropy's own documentation omits a figure it could have published, such as the effective Growth Mode rate or the builder-fee approval ceiling, we say so, and we quote the underlying source rather than paraphrase it.