> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hyro.network/llms.txt
> Use this file to discover all available pages before exploring further.

# Eligibility & Application

> Criteria, the application process, and requirements by applicant type.

Direct Vault managers qualify on track record, not a challenge. Here's what's required and how to apply.

## The four pillars

<Steps>
  <Step title="Track record">
    6 months minimum continuous history · \$50,000+ realized PnL · max drawdown under 15% trailing 6 months · Sharpe > 1.0 or comparable.
  </Step>

  <Step title="Identity">
    KYC for individuals, KYB for entities. Source-of-funds attestation required for entity applicants.
  </Step>

  <Step title="Strategy disclosure">
    What you trade, time horizon, leverage approach, and risk parameters.
  </Step>

  <Step title="Manager commitment">
    A 5% skin-in-the-game stake (of expected initial TVL), locked 3 months minimum, publicly visible on-chain.
  </Step>
</Steps>

## Eligibility at a glance

| Requirement                | Value                                                  |
| -------------------------- | ------------------------------------------------------ |
| Verifiable trading history | 6 months minimum, continuous                           |
| Track record import        | Read-only API key OR cryptographically signed snapshot |
| Realized PnL               | \$50,000+ over the verifiable period                   |
| Max drawdown               | Under 15% trailing 6 months                            |
| Risk-adjusted metric       | Sharpe > 1.0 or comparable                             |
| Identity check             | KYC (individuals) · KYB (entities)                     |
| Geographic eligibility     | US retail, UK retail, sanctioned territories excluded  |

## Application process

<Steps>
  <Step title="Apply online">
    Submit track record, strategy, and identity documents at hyro.network.
  </Step>

  <Step title="Admin review (1–2 weeks)">
    Track-record verification and strategy assessment.
  </Step>

  <Step title="KYC / KYB (1–2 weeks, parallel)">
    Processed by a qualified third-party provider.
  </Step>

  <Step title="Strategy interview (~1 hour)">
    Video call with the Head of Trading or a designated reviewer.
  </Step>

  <Step title="Decision">
    Final approval or structured feedback.
  </Step>
</Steps>

**Typical total: 3–5 weeks** from application to vault opening.

## By applicant type

The framework adapts to four classes; eligibility is the same, but documentation and review depth scale with entity complexity:

| Type                      | Additional requirements                                                               |
| ------------------------- | ------------------------------------------------------------------------------------- |
| Individual traders        | Personal KYC, personal track record, personal stake                                   |
| Funds, partnerships, RIAs | KYB; entity as manager; named principals attested; fund-structure docs                |
| Algorithmic trading desks | KYB + optional code review for senior TVL tiers; algo logic disclosed at a high level |
| Market makers             | KYB + inventory-transparency commitment                                               |

## Backtest disclosure

<Note>
  Backtests are **optional and LP-facing only**. They're displayed alongside live performance so LPs can compare your stated framework against live results — but they're **never used for protocol enforcement**. Markets change and strategies deviate from backtests; outperforming or underperforming a backtest never triggers enforcement. Decisions are based on live performance and the on-chain risk limits you set.
</Note>

<Card title="Next: configure your vault" icon="settings" href="/managers/vault-configuration" horizontal>
  Every parameter you control at creation.
</Card>