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Managers

Asset managers are the backbone of HYRO, bringing skill, strategy, and disciplined execution to the capital provided by liquidity providers (LPs). HYRO connects these managers directly with LPs through a transparent, challenge-based qualification system that ensures only proven traders can access protocol capital.

Challenge-Based Manager Qualification

Meritocratic Onboarding Process HYRO uses challenge-based qualification to ensure only capable managers access LP capital. This approach eliminates subjective criteria and creates a transparent, meritocratic system based on actual trading performance.

Challenge Templates Manager qualification is determined through standardized challenge templates that define:

  • Financial Parameters: Starting deposits, entrance costs, and profit targets
  • Risk Management: Daily drawdown limits and maximum loss thresholds
  • Trading Requirements: Minimum trading days and activity levels
  • Performance Metrics: Win rates, position sizing, and risk management

Challenge Participation Managers participate in challenges by:

  1. Selecting Templates: Choosing appropriate challenge templates based on their trading style
  2. Paying Entry Fees: Contributing to the challenge pool through entrance costs
  3. Demonstrating Skills: Trading under real market conditions within defined parameters
  4. Meeting Targets: Achieving profit targets while respecting risk limits
  5. Completing Requirements: Meeting minimum trading day requirements

Challenge System Implementation

Template Creation Challenge templates are created by protocol administrators and define standardized qualification criteria:

1pub struct ChallengeTemplate {
2    pub stage_id: u16,                    // Unique template identifier
3    pub stage_sequence: u8,               // Template sequence number
4    pub stage_type: StageType,            // Challenge type (evaluation/funded)
5    pub starting_deposit: u64,            // Virtual trading balance
6    pub entrance_cost: u64,               // Fee to join challenge
7    pub minimum_trading_days: SmallScalar, // Required trading days
8    pub daily_drawdown: Percent,          // Daily drawdown limit
9    pub maximum_loss: Percent,            // Maximum loss threshold
10    pub profit_target: Percent,           // Required profit target
11    pub max_participants: SmallScalar,    // Maximum participants
12    pub is_active: bool,                  // Template status
13}

Challenge Tracking Individual challenges track participant progress through comprehensive state management:

1pub struct Challenge {
2    pub challenge_id: String,             // Unique challenge identifier
3    pub user: Pubkey,                     // Participant address
4    pub starting_balance: u64,           // Initial balance
5    pub latest_balance: u64,              // Current balance
6    pub status: ChallengeStatus,          // Current status
7    pub payout: u64,                      // Calculated payout
8    // ... additional tracking fields
9}

Oracle-Driven Performance Monitoring

Real-Time Tracking The oracle system provides continuous monitoring of challenge performance:

  • NATS Message Queue: Reliable delivery of trading performance updates
  • Performance Calculation: Real-time profit/loss and risk metric computation
  • Rule Enforcement: Automated validation against challenge parameters
  • State Updates: On-chain synchronization of challenge progress

Performance Validation The system validates multiple performance criteria:

  • Profit Targets: Achievement of required profit percentages
  • Drawdown Limits: Compliance with daily and total drawdown limits
  • Trading Activity: Meeting minimum trading day requirements
  • Risk Management: Adherence to position sizing and risk parameters

Manager Privileges and Capabilities

Challenge-Based Access Control Successful challenge completion grants managers access to protocol features:

  • Vault Creation: Ability to create and configure trading vaults
  • Transaction Execution: Execute trades through approved venues
  • Parameter Adjustment: Modify vault parameters within protocol limits
  • Performance Tracking: Access to comprehensive analytics and reporting

Vault Management Qualified managers can create and manage vaults with:

  • Policy Integration: Associate vaults with appropriate policy programs
  • Risk Parameters: Set trading limits and risk management rules
  • Fee Structures: Configure performance and management fees
  • Access Controls: Define who can interact with vault funds

Trading Execution Managers execute trades through:

  • Approved Venues: Integration with supported trading platforms
  • Risk Validation: Automatic validation against vault parameters
  • Performance Tracking: Real-time monitoring of trading results
  • Audit Trails: Complete record of all trading activities

Performance Analytics and Reporting

Challenge Performance Tracking The system provides comprehensive analytics for challenge performance:

  • Profit/Loss Tracking: Real-time calculation of trading results
  • Risk Metrics: Monitoring of drawdowns and risk management
  • Trading Statistics: Win rates, average trade duration, and position sizing
  • Progress Indicators: Visual tracking of challenge completion

Vault Performance Analytics Qualified managers receive detailed analytics for their vaults:

  • Performance Dashboards: Real-time monitoring of vault performance
  • Risk Monitoring: Tracking of risk metrics and compliance
  • Fee Calculations: Automated calculation of performance fees
  • Historical Analysis: Long-term performance tracking and reporting

Integration with Trading Venues

Supported Platforms The protocol integrates with major trading venues:

  • Centralized Exchanges: Binance, Bybit, OKX, and others
  • Decentralized Exchanges: Raydium, Orca, Drift
  • Forex Platforms: MetaTrader and other retail platforms
  • Custom Integrations: Proprietary trading systems

Technical Integration Managers integrate with trading venues through:

  • API Connections: Direct integration with exchange APIs
  • Webhook Support: Real-time updates from trading platforms
  • Data Aggregation: Combination of data from multiple sources
  • Performance Validation: Cross-validation of trading results

Manager Registry (Current Implementation)

Implemented Registry Features The manager registry is currently implemented with basic functionality:

  • ✅ Manager Profiles: Basic manager information and verification status
  • ✅ Verification System: Admin-controlled manager verification process
  • ✅ Risk Rating: Risk assessment and assignment system
  • ✅ Child Vault Creation: Basic framework for manager-controlled vaults
  • 🚧 Performance Tracking: Planned for future implementation
  • 🚧 Fee Management: Planned for future implementation

Current Qualification Process The current system provides:

  • Challenge-Based Qualification: Transparent performance-based verification
  • Admin Verification: Controlled manager approval process
  • Risk Assessment: Risk rating assignment during registration
  • Basic Vault Access: Limited vault creation capabilities

Future Registry Enhancements Additional registry features are planned for future phases:

  • Comprehensive Profiles: Detailed manager information and historical performance
  • KYC/AML Integration: Regulatory compliance and identity verification
  • Reputation Scoring: On-chain reputation based on challenge performance
  • Performance History: Long-term tracking of manager capabilities
  • Multi-Stage Challenges: Progressive qualification through multiple challenge levels
  • Specialized Templates: Challenge templates for specific trading strategies
  • Performance Tiers: Different access levels based on challenge performance
  • Continuous Monitoring: Ongoing performance tracking and qualification maintenance

Security and Compliance

Challenge Integrity The challenge system ensures fair and transparent qualification:

  • On-Chain Verification: All challenge data is recorded on-chain
  • Oracle Validation: Real-time verification of trading performance
  • Rule Enforcement: Automatic disqualification for rule violations
  • Audit Trails: Complete record of all challenge activities

Manager Security The system protects manager interests through:

  • Non-Custodial Design: Managers never directly access LP funds
  • Policy Enforcement: Automated validation of all transactions
  • Performance Transparency: Public visibility of challenge results
  • Fair Competition: Equal opportunity for all participants

The challenge-based manager qualification system provides a transparent, meritocratic approach to manager selection while ensuring only proven traders can access protocol capital.