Layer by layer
| Layer | Today | Roadmap |
|---|---|---|
| Capital settlement | On-chain (Solana) | — |
| Share accounting | On-chain | — |
| LP deposits / withdrawals | On-chain | — |
| Performance-fee logic | On-chain | — |
| Challenge-fee collection | On-chain | — |
| Payout records | On-chain (TXID each) | All future payouts on-chain by default |
| NAV reporting | Hyro oracle + independent watchdog | Multi-signer (Phase 2); zkTLS proofs (long-term) |
| Trader admission | HyroTrader’s verified pipeline | Permissionless on-chain challenges (Phase 3) |
| Execution venue | Bybit (real API, real order books) | Multi-CEX; Drift + Phoenix on-chain (Phase 4) |
| Trading terminal | Bybit native + HyroTrader interface | HyroTrader proprietary terminal (in development) |
| Operator wallet | Squads 3/5 multisig | DAO-controlled (Phase 4) |
| Risk parameters | Hardcoded (mirror HyroTrader’s rules) | DAO-governed (Phase 3) |
| Governance | Multisig admin | $HYRO token governance (Phase 3) |
The staged approach
On-chain execution roadmap (Phase 4)
Direct integration with Solana DEXes enables Hyro vaults to execute entirely on-chain, removing CEX counterparty risk for the on-chain track:- Drift Protocol — Solana perpetuals DEX
- Phoenix — Solana on-chain order book
- Additional Solana perp DEXes as strategic partnerships
Trust assumptions
The full disclosure of what LPs trust today.