Direct Vault
LP-funded vault for verified senior traders without an evaluation step.
Challenge Vault
LP-funded vault that requires the trader to pass an on-chain evaluation.
Hyro Pool
Diversified LP pool with auto-allocation across verified vaults.
Dual-track
The funded model — at +15% on the funded demo, a real vault opens while the demo continues at a reduced 50/50 split.
Tier 1 / Tier 2
The two profit-split phases of the funded demo. Tier 1 = 0 to +15% at 80/20. Tier 2 = +15% onward at 50/50 on incremental.
HWM (High-Water Mark)
Performance fees apply only on profits above the prior peak.
Current value of vault holdings per share.
PDA (Program-Derived Address)
Deterministic Solana address derived from a program + seed.
Anchor manager
Hand-selected HyroTrader graduate launching a vault during Phase 1.
Per-LP cost basis
Performance fees calculated against each LP’s individual entry NAV.
Squads
Solana multi-sig protocol; used for the operator wallet and treasury transfers.
CCXT
JavaScript/Python library for unified cryptocurrency exchange APIs.
JetStream
NATS message-streaming layer providing persistence and delivery guarantees.
Codama
Code generation tool that produces TypeScript clients from Anchor IDLs.
zkTLS
Zero-knowledge proof of a TLS session — a research-grade primitive for proving CEX balances on-chain.
Funded demo
Simulated trading account where profits are paid in real USDC. Continues in parallel with the real vault after +15%.
Policy program
Pluggable Solana program that validates vault transactions against a rule set before execution.
Sub-account
Bybit-side isolated account holding a single trader’s capital; provisioned per vault.
Crystallization
The moment a performance fee is calculated and locked in; triggered by LP withdrawal or monthly snapshot.
HyroAPI
Phase 4 B2B product — funded trading infrastructure rented to third-party prop firms via API.
Drift / Phoenix
Solana perpetuals DEX and on-chain order book, planned Phase 4 integrations for on-chain execution.