HyroTrader launches on-chain prop trading protocol

HyroTrader has announced that it is launching Hyro Protocol, an on-chain proprietary (prop) trading protocol built on Solana that settles in USDC.

The Prague-based firm first made the announcement on July 8, stating that it is a response to the funded trading industry’s central credibility problem.

Historically, traders and capital providers have had no way to independently verify what a prop firm’s dashboard tells them. Hyro Protocol is designed to remove that vagueness, and it says that it has made every key protocol event verifiable on-chain.

HyroTrader’s CEO Samuel Drnda said, “Most prop firms still run on closed systems where rules can change mid-evaluation and payouts happen behind closed doors.”

What is Hyro Protocol actually building?

The protocol has designed what it calls a vault model, which is divided into two: the Challenge Vaults and the Direct Vaults. It uses capital pools governed by smart contract rules, and traders building a track record can prove themselves through Challenge Vaults, while those with an established history can apply to manage liquidity provider capital directly through Direct Vaults.

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