Entropy io
Airdrop (Retrodrop)

Entropy io has not announced a token, but a perp DEX in this spot still has a high chance of releasing one, the way Lighter, Hyperliquid, and Variational did. Until that happens, the way to build a history on the venue is to pile up real trading activity. The live fee rebate cuts the cost of that activity: early-bird self-rebates run from 60% at Trader to 200% at Partner, claimed from the profile with a $5 minimum and bi-weekly payouts.

Open Entropy, connect a wallet that can trade on Hyperliquid, and deposit USDC. Two ways to earn that activity:

• Active farming

Trade the markets you would trade anyway, on Entropy DEX instead of a CEX. Fees and a losing PnL are the cost. The rebate is what makes that cost smaller than a normal venue. Keep the size and timing uneven. A stream of identical, short, clockwork trades is the pattern venues tend to discount if a retrodrop is scored later. This fits if you already trade the names Entropy.io lists: pre-IPO perps, equities, indices, and commodities.

• Passive farming

Open a position on Entropy and hold the same size in the opposite direction on another perp venue, such as Hyperliquid, Variational, or Pacifica. Considering the history of other perp DEX airdrops, it is very likely that the Entropy crypto project will record not only the volume but also Open Interest. The other leg keeps you from being fully exposed to the move. Funding can still cost you if it runs against the Entropy leg.

Margin is not the same on every market. Isolated margin applies only to some unique positions, including the single-name and pre-IPO listings. A loss on an isolated position stays inside that position and cannot be covered by a winner elsewhere. The rest of the book is cross margin. Unrealized PnL on those positions is shared, so one cross position does compensate another, and a liquidation on a cross position can draw on that shared collateral. Check the mode before you size the hedge, and leave spare margin on any isolated leg.

A referral code is optional. It pays a share of invitees' fees on top of your own rebate. It is not a substitute for your own volume.

💡 Pro tip: Hedge with a cross-direction pair instead of a single outright. For example, on one side, open long BTC and short ETH. On the other side open short BTC and long ETH, in the same size. A move in either coin then pushes one leg up and the other down. 

If both legs are cross margin, the winner compensates the loser inside the same account. If one of them is an isolated unique market, that leg does not get the offset, so fund it on its own.