What opens
1
A vault PDA on Solana
Auto-created on-chain. Your execution rights are constrained by policy — you never hold custody of the capital.
2
Firm seed
HyroTrader seeds the vault with 10% of your starting demo size — 2.5k for a 25k demo, 5k for 50k, 10k for 100k.
3
A new Bybit sub-account
Provisioned for real trading.
4
LP deposits open
LPs can deposit on top of the seed from minute one.
The split
On the real-capital vault, the performance fee splits:
The fee is high-water-mark protected with a per-LP cost basis — so an LP is never charged twice on the same gain, and each LP’s fee is measured against their own entry NAV.
Running both surfaces
Demo (Tier 2)
Steady, predictable USDC payouts at the 50% split. Simulated balance, real payouts from the fee pool.
Real-capital vault
Real-money A-book trading on Bybit, scaling with LP deposits, at the 80% split. HWM-protected, programmatically-enforced drawdown.
There is no “graduation event.” You don’t lose the demo — you gain an additional LP-funded capital layer. Scaling is by performance.
What LPs see
When your vault opens, LPs can evaluate it before depositing. These metrics are always public and cannot be hidden:- NAV (updated ~every 60 seconds), total AUM, drawdown
- Realized returns and payouts
- Performance fee rate
- Your skin-in-the-game stake
How payouts settle
On-chain payout mechanics and how to verify them.