> ## Documentation Index
> Fetch the complete documentation index at: https://docs.proportion.finance/llms.txt
> Use this file to discover all available pages before exploring further.
# What We Offer
> Why funded accounts trade against the market instead of the firm, and what traders, backers and LPs each get
## Problems Proportion solves
A B-book prop firm is the counterparty to its own traders, so every payout is its loss. Nobody wants to pay, and the rulebook grows until nobody has to: new rules, endless KYC checks. The effort spent fighting abuse lands on honest traders too: rules written for cheats, and refused payouts they earned.
Proportion takes the firm out of the other side of the trade. A funded account trades on the Hyperliquid order book, so the trader's profit is paid by the market. The backer who opens the account is paid from that profit, and a trader's loss comes out of the buffer the backer posts to open it. The account's terms are fixed at activation.
| Problem | What Proportion does |
| - | - |
| Every payout is the firm's loss | The backer's income is a share of trader profit. The exception is a floor breach or the trader's request to close the account: the profit still in the account is then split equally between the backer and the protocol, and the trader gets none of it |
| The rulebook grows | Account size, drawdown, profit split and profit target are fixed at activation. Risk is controlled by an equity floor, not by restrictions on trading style: bots, copy trading, news trading and holding positions overnight are allowed. The floor rises as the account sets new highs, and backed accounts also have a daily floor. The market list and leverage caps are settings shared by all accounts and can change. An order outside them is refused, positions in a removed market are closed, and the account stays open |
| Endless KYC checks | Activation takes a wallet and USDC. The protocol has no registration or approval step. A backer who wants to vet traders does so before activation, through their own evaluation |
| Earned payouts get refused | At close, each party's share of the profit is credited to a fixed address, and claiming it needs no one's approval |
| Backing a trader means putting up the full account size | The vault supplies the capital. A backer posts a buffer and a premium, not the account size |
Challenges are separate: simulated evaluations traded and graded offchain. The payment, its escrow and the promotion to a funded account are onchain. A backer can use one to choose traders, and the backer decides whether a passed challenge becomes a funded account. See [Challenges](/challenges).
## What each side gets
* Capital on the Hyperliquid order book and 30–90 % of the profit. Your backer sets the share, and it is fixed at activation.
* On a backed account, the backer posts the buffer and pays the premium. A subscription of 1.5 % of account size per 30 days is paid from the account's profit. If it cannot be paid at renewal, the account closes and you keep your share of the profit.
* You can fund yourself instead: you post the buffer and a premium for a prepaid term, and on an ordinary close you keep both the trader's and the backer's share of the profit.
* You can withdraw profit while the account is open, once it has no open positions and has three profitable days or 1.5 % profit; each withdrawal takes all current profit. An account with a profit target has no withdrawals: reaching the target closes the account and pays your share.
* A floor breach or your request to close the account forfeits your share of the profit still in the account: all of that profit is split equally between the backer and the protocol. On a self-funded account you are the backer, so you keep that half. Profit already withdrawn is yours.
[Funded Account Rules](/funded/rules) · [Profit and Payouts](/funded/payouts)
* Funded accounts without putting up the account size. You choose the trader, the account size, the drawdown, the trader's share and any profit target.
* You keep the rest of the profit, 10–70 %, on every withdrawal and ordinary close. On a floor breach or the trader's request to close the account, the profit still in the account is split equally between you and the protocol instead.
* Opening an account requires a buffer equal to the drawdown amount you choose and a premium of 2 % of account size that covers the first 30 days. The buffer is returned at close, minus any trading loss. The premium is not.
* Your worst case on one account is the buffer plus the premium.
* The protocol runs floors, settlement and payouts. Selection, pricing, brand and any vetting before activation stay yours; once an account is open, you cannot change its terms or close it.
* Opening an account directly needs no registration and no stake. Selling challenges through the protocol requires vault shares.
[For Backers](/backers) · [Account Parameters and Fees](/backers/fees)
* Vault shares. Income is half of every premium and every subscription, plus interest on idle USDC the vault lends out. The vault takes no share of trader profit.
* Every account carries a backer's buffer that takes losses before your capital does.
* A price gap, slippage, a delayed close or a fill at an off-market price can leave a loss larger than the buffer. The excess lowers the share price. USDC lent to Hyperlend carries that protocol's risk. There is no fixed yield, and a share can end up worth less than you paid.
* Your capital is spread across every account the vault funds; you do not pick backers or traders. There is no lock-up, but withdrawals depend on the vault's free liquidity and stop while the vault is paused.
[How the Vault Works](/vault) · [Yield and Risks](/vault/yield)
[Security](/security) covers the audit and how the contracts are administered.
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