> ## 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.

# Challenge Vault

> Pay an entry fee, pass a single evaluation, and get funded.

The Challenge Vault is the path for traders **without** an existing track record. Pay an entry fee in USDC, trade under smart-contract rules, pass the evaluation, and get funded.

## Structure

Hyro's Challenge Vault uses a **one-step structure** by default: a single evaluation phase leads directly to a funded account. (A two-step structure with a 10% / 15% split is also configurable.)

## Account sizes

| Size     | Simulated balance |
| -------- | ----------------- |
| Starter  | 25,000 USDC       |
| Standard | 50,000 USDC       |
| Pro      | 100,000 USDC      |

You pay the evaluation fee in USDC. Gas is sponsored — you never need SOL.

## What's locked at purchase

When you buy a challenge, the **rulebook version is written on-chain** and pinned to your challenge. The rules you signed up for are the rules you're evaluated against — even if the rulebook updates later.

[How the versioned rulebook works →](/resources/decentralization)

## What you get when you pass

<Check>A funded demo account at Tier 1 (80% trader / 20% firm), paid in real USDC</Check>
<Check>The dual-track path: at +15%, a real-capital LP-funded vault opens in parallel</Check>
<Check>An on-chain track record you carry across vaults and seasons</Check>

## Challenge Vault vs Direct Vault

|           | Challenge Vault                | Direct Vault                    |
| --------- | ------------------------------ | ------------------------------- |
| Who       | Traders without a track record | Verified managers with one      |
| Entry     | Pay a fee, pass evaluation     | Apply with track record, no fee |
| Economics | Fixed 20% perf fee             | Configurable 10–30%             |
| Available | Q4 2026                        | Q1 2027 (external)              |

[Direct Vault path for verified managers →](/managers/direct-vault-overview)

<CardGroup cols={2}>
  <Card title="Evaluation Rules" icon="list-check" href="/traders/evaluation-rules">
    Every rule and how it's enforced.
  </Card>

  <Card title="Getting Started" icon="play" href="/traders/getting-started">
    Sign up and buy your first challenge.
  </Card>
</CardGroup>