Entropy Enhancement and Black Hole Microstates
  We study fluctuating two-charge supertubes in three-charge geometries. We show that the entropy of these supertubes is determined by their locally-defined effective charges, which differ from their asymptotic charges by terms proportional to the background magnetic fields. When supertubes are placed in deep, scaling microstate solutions, these effective charges can become very large, leading to a much larger entropy than one naively would expect. Since fluctuating supertubes source smooth geometries in certain duality frames, we propose that such an entropy enhancement mechanism might lead to a black-hole like entropy coming entirely from configurations that are smooth and horizonless in the regime of parameters where the classical black hole exists. 
Iosif Bena, Nikolay Bobev, Clement Ruef, Nicholas P. Warner