HyroTrader Unveils On-Chain Prop Trading Protocol to Tackle Industry's Trust Problem

HyroTrader has launched its on-chain proprietary trading protocol, Hyro Protocol, built on Solana. The protocol settles trades in USDC and aims to address the trust issue in the prop trading industry.

The firm's CEO, Samuel Drnda, stated that most prop firms still run on closed systems where rules can change mid-evaluation and payouts happen behind closed doors.

Hyro Protocol uses a vault model divided into two: Challenge Vaults for traders building a track record, and Direct Vaults for those with an established history to manage liquidity provider capital directly.

The protocol puts the entire vault and accounting layer on-chain, setting it apart from other payout-tracking services that only cover payouts records.