HyroTrader, a crypto prop firm headquartered in Prague, has been named Best Prop Trading Firm at the CoinGape Web3 Innovation Awards 2026.

The recognition rewards the company’s exchange-connected funding model for digital asset traders and arrives as demand for funded trading accounts continues to climb across the crypto industry.

The CoinGape Web3 Innovation Awards honor organizations, products, and innovators shaping the future of Web3 across multiple categories.

Winners are decided by an independent judging panel featuring representatives from Polygon Labs, Visa, Beldex, Shirplink, and Liminal Custody.

HyroTrader was selected in the prop trading category on the strength of its direct exchange execution model, its risk management framework, and its consistent payout record.

Why crypto prop firms are drawing more traders

A crypto prop firm provides traders with access to the company’s capital once they pass a structured evaluation, usually called a challenge.

Instead of risking personal savings, a trader pays a one-time fee, proves they can hit a profit target while respecting drawdown limits, and then trades a funded account while keeping the majority of the profits.

For skilled traders, the model converts a large capital requirement into a small, defined cost.

That promise has pulled thousands of traders into funded trading, but it has also exposed the differences between operators.

Dozens of prop trading firms have disappeared in recent years, often after payout delays or sudden rule changes, and traders have responded by scrutinizing two things above all: how a firm executes trades and whether its payout claims can be independently confirmed.

Execution quality and verifiability, rather than headline profit splits, now separate the leading crypto prop trading operators from the rest.

Inside HyroTrader’s exchange-connected funding model

Execution is where the Prague company has staked its reputation.

Unlike providers that run evaluations on internal pricing systems, the HyroTrader prop firm routes trading activity to real exchange environments through a secure API connection to Bybit, an approach it pioneered in 2023 with the industry’s first direct exchange integration.

Funded traders operate on their own exchange accounts across more than 700 USDT perpetual pairs, filling orders in live order books rather than simulated feeds.

Traders who prefer a terminal can use the same model through Tealstreet or the CLEO app.

The rulebook is built for crypto’s 24/7 rhythm. The one-step evaluation carries a 10 percent profit target with a 4 percent daily drawdown and a 6 percent maximum loss, a minimum of five trading days, no time limit, and no stop-loss obligation.

Challenges start at $59, a $100,000 account costs $579, and the fee is refunded in full with the first payout. Profit splits start at 80 percent and scale to 90 percent without paid upgrades.

HyroTrader at a glance:

  • Founded in 2022, headquartered in Prague, Czech Republic
  • Funded accounts up to $200,000, with a scaling path to $1,000,000 for consistently profitable traders
  • More than 700 USDT perpetual pairs traded via Bybit API, Tealstreet, or CLEO
  • Profit split of 80 percent, scaling to 90 percent
  • On-demand payouts processed within 12 to 24 hours in USDT or USDC, verifiable on-chain
  • Over 1,700 funded traders, more than $5 million paid out, and a community of 35,000+ members

“This award reflects the standard we set for ourselves from day one: real exchange execution, clear rules, and payouts traders can verify,” said Samuel Drnda, CEO of HyroTrader.

“Recognition from a panel of this caliber confirms that transparency is not a marketing angle. It is the future of prop trading.”

Hyro Protocol brings prop trading on-chain

The award arrives as HyroTrader prepares a broader push toward verifiable trading infrastructure.

On July 8, the firm announced Hyro Protocol, an on-chain crypto prop trading protocol built on Solana that settles in USDC.

Hyro Protocol is designed to connect traders seeking capital with liquidity providers seeking exposure to verified trading strategies.

At its core sits a vault model: structured capital pools governed by smart-contract-enforced rules, with transparent accounting and on-chain performance records.

Traders can prove themselves through Challenge Vaults or, with an established track record, apply to manage liquidity provider capital directly through Direct Vaults.

Key protocol events, including vault creation, deposits, NAV updates, and payouts, are designed to be verifiable on-chain.

“Most prop firms still run on closed systems where rules can change mid-evaluation and payouts happen behind closed doors,” Drnda added.

“Hyro Protocol replaces trust with verification. Traders own their track records, LPs can check every number on a block explorer, and capital scales with performance instead of one company’s balance sheet.”

Trade execution will remain on professional exchange infrastructure while protocol state settles on-chain, a structure intended to preserve the liquidity and execution quality traders expect.

The company says it will publish program IDs, audit reports, and explorer links as each protocol component goes live.

What the award signals for funded trading

For the funded trading sector, the recognition of an exchange-connected, verification-focused operator points to where the category is heading.

As traders grow more selective, crypto prop firms able to prove their execution and payment records, rather than simply advertise them, are increasingly the ones setting the standard.

Funded trading involves evaluation fees and market risk, and nothing in this article constitutes investment advice.

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