❇️ On-chain prop firms: the full map (and what you can still farm) ❇️
Prop firms are the next meta after the perp DEX airdrop wave
Here's every on-chain one worth knowing, green and red flags, and where points are still cheap 👇
Cheap challenge → If you pass, you get free-ish leverage → regardless of whether you pass or not, you (generally) get points (airdrop?)
It's still trading, and many will lose money here, but at least they'll lose less than with regular perp DEXs
TL;DR → Farm now: Propr, Iceberg → Fool around: Hypernova, Carrot → Watch: HyperPNL → Token already live: Vanta
1️⃣ @ProprXYZ
Current market leader, funded accounts up to $300k, you keep 80% of the profits, built on @HyperliquidX with 150+ perps (also equities, FX, and commodities)
Their revenues are just crazy: $1.6M in September alone, with almost a 50% increase from August, and they paid out more than $1M to traders
That's ~$20M annualized revenues here + a $1M+ in USDC payout reserves across 3 verifiable public wallets
REF → https://t.co/ysol2sqejM
🟢 Revenues are real, full transparency on dashboards and payouts, most liquid community out there
🔴 Of course, it's the most crowded one if you're going in just for farming, but there's still time till the airdrop, and making points is not much harder than in its early days (yet)
Still very much worth farming, with the airdrop not too far from here (team set specific milestones to decide TGE date)
2️⃣ @HypernovaX
Biggest challenger to Propr, with a $3M pre-seed led by Lemniscap
Some numbers: $617k paid in September, settled on average within 6s
Bonus point here: Connect your Hyperliquid account, and you can get 10-80% off on challenge prices
REF → https://t.co/QgYI1WMKA2
🟢 2nd biggest name, with the lowest prices if you get a good discount
🔴 No confirmed token, no points
Despite the red flag, many rumors are saying it WILL have a token, and they ARE collecting activity data, so who knows
Worth at least using it a bit, just to avoid regrets + they have the October Funded Trader Cup with $5k USDC in prizes and a $500k+ in assessment accounts (invites only so far)
3️⃣ @Icebergdotcash@Pasta_Capital is part of the team here, and I'm going to be proud of my country once in a while 🍝
Unique prop firm with no-challenges options and no KYC for the payouts (If you're a good trader, this is free leverage) 👇
Pay ~$330 to trade with $10k, with a daily breach at $300 and a total breach at $600
And they've also just went live with the classic evaluation accounts, cheaper then the rest of prop firms in this list
They've made $25k+ in revenue in a single week and have already shipped $4k+ in instant payouts to traders (initial payout pool was $30k to give an idea) → https://t.co/MSXxhi9Emg
REF → https://t.co/jFg2dFllVe
🟢 Different from every other name in the list, and working well so far
🔴 No mention of tokens, we don't know if the points will get us an airdrop, and they're still on testing grounds for long-term sustainability
I'd use it regardless right now and accrue points + they're about to launch a banger feature this week 👀
4️⃣ @VantaTrading
This is an absolutely huge one, with lots of liquidity for traders (up to $1M in funding and $750k+ paid to traders)
This one is different in the sense that they have an already live token, the SN8 (Subnet of $TAO) Vanta token
You can get your payouts in either that or USDC on Base
🟢 Another unique model + SN8 chart is gorgeous, and every connection to Bittensor is bullish in my eyes
🔴 Token is already live, if you just want exposure, you can technically buy it (although you have to pass through TAO)
Definitely worth keeping an eye on and studying if a direct buy of SN8 is more worth the hassle
They also might add instant funded accounts 👀
5️⃣ @carrotfunding
Funded up to $100k, less known one but still relevant
One nice extra here is that the points also pay weekly revenue distributions to the top 10 point earners of the week = Points + Yield
🟢 Real yield on top of everything and much less crowded (if you have size)
🔴 Smaller community, smaller cap compared to other $300K funded accounts, and will likely have a lower valuation
I'd prioritize it less than the rest of the list, but it's still worth checking out and trying, at the very least, the real yield is noice
6️⃣ @HyperPNL
Weird one I don't know too much about
They claim to be the first onchain prop firm, which I'm not too sure of, as I'm pretty sure Propr was here first
🟡 They claim to be the first, but are they really?
🔴 Very small prop firm, no public points and no token mentions
I'd keep an eye on it, but I have to research better before trying this out and spending money/time on it
▶️ Wrap-up
If I had to use only one, I'd go with Propr right now: points aren't too hard to accrue, the platform is well honed, and TGE shouldn't be far
Once that's done, I'd move to Iceberg
But if liquidity blesses me well enough, I'll obviously use more of them at once: Propr, Iceberg, Hypernova in primis, Carrot right after just to be sure
(Thanks to @onchain_props for the constant stream of news on prop firms and @LekimXBT's post where I discovered Hypernova 🙏)
One week in since the official Iceberg launch
- $25.000+ revenue
- $4.200+ paid out
- 700+ users onboarded
- World Record payout processing time of 5 seconds
- 2k+ X followers
- Countless features shipped thanks to our community
- No bans, no payout denials, no payout reviews, no KYC
We are just getting started and there are a lot of news coming shortly. Stay tuned! 🧊
@frances05430620@extendedapp Pure speculation: ~$1.50 at launch, then hovering around $1 for a week, then going up to $4/5 in the next 2/3 months
What comes after is complete fog, could go much higher with a bull market and some nice integrations
@PitoUpOnly@extendedapp@Starknet@arc As Testovsky already said, $STRK already dumped quite a bit, so I wouldn't go crazy for leverage and maybe wait for a relief pump of sort
But I see very few chances for this to go up again above $0.12
With @extendedapp migrating from @Starknet to @arc, the former had an instant bleed of $100M+ in TVL
~75% of the total
Last time a big TVL dip happened, price followed
Short $STRK?
After the perp DEX race settles down, the next two new narratives will be props and options
Who's fighting the Options War before it goes mainstream? 👇
▶️ @DeriveXYZ / $DRV, which you might have heard of because of the turbo-pump
$14.2B traded this year (75% of the total market) with ~$1B in the first week of October alone
▶️ @Lighter_xyz / $LIT just launched its binary options as 15-minute $BTC / $ETH up/down contracts
They're already planning for full European options, sharing margin with perps
▶️ @variational_io / $VAR?
Pro is coming for options and structured products, with insti-grade quality
That's scheduled for 2027 though
▶️ Other perps?
@HyperliquidX's obviously the main candidate, Jeff wants to house all of finance after all, and one of the future HIPs will inevitably bring options in
I also have a feeling that @extendedapp will expand to options and leverage its European market dominance for it
Before Hyperliquid and its airdrop, perps were relegated as something only CEXs could do → Then we thought $HYPE was the only possible exception to the dominance, before other perps came with points and volumes exploded
If protocols start incentivizing onchain options, we'll see another Cambrian explosion of new onchain primitives and protocols (and maybe airdrop farming gains? 👀 )
@testovsky_eth@extendedapp@Starknet@arc Eh, I guess it would have been better to open the shorts when extended announced this
Don't think STRK recovers though, maybe even makes some new lows
@DEXoverCEX@extendedapp@circle Something something Safemoon
Honestly, I'm happy we got a *tiny-bit* more sensible with valuations
Only thing that matters is the price you get in vs the price you get out in the end
I'm fiending for Tokenomics and TGE info like every other xPoint holder out there
BUT
I'm more bullish than I ever was on @extendedapp now that they have @circle's full backing 👀
Reminder of how much the points might be worth at different FDVs 👇
Very rich people work a lot usually, unless they're heir or shit like that
Broke people also work a lot to have enough money to pay rent, food, school for children and medical expenses
I'd flip the chart around, but making the poor side much larger and the rich side tiny
I've been replaying all the metroid games + the ones I hadn't played yet in anticipation for Ravenous
I'm still missing Other M, Metroid II, Samus Return, and Federation Force (lol)
I can confirm the best one so far is without a doubt Metroid Pinball