The onchain prop trading space just gained a significant new player. Propr, a crypto-native proprietary trading firm backed by SwissBorg and built by the team behind XBorg, has officially launched on Hyperliquid, one of the fastest-growing decentralized perpetual exchanges in the market.
Unlike traditional prop firms that operate through centralized platforms and opaque backend systems, Propr is built entirely onchain. Every trade, every payout, and every performance metric is recorded on the blockchain, giving traders an unprecedented level of transparency into how the firm operates and distributes capital.
What Propr Offers Traders
Propr is funding traders with up to $100,000 in capital to trade perpetual contracts across crypto, equities, and FX on Hyperliquid’s high-performance infrastructure. Funded traders receive an 80% profit share, with all payouts settled in USDC directly onchain.
The platform features a custom-built trading terminal that supports the full Hyperliquid ecosystem, including HIP-3 assets. By leveraging Hyperliquid’s low-latency execution engine, Propr aims to deliver deep liquidity and fast fills without relying on centralized intermediaries – a sharp departure from how most funded trader programs currently operate.
A New Model for Prop Firm Transparency
One of the biggest criticisms facing the prop trading industry in recent years has been a lack of transparency around payout processes, rule enforcement, and how firms actually manage risk. Propr’s onchain architecture is designed to address those concerns head-on.
Because the firm operates natively on blockchain rails, traders can independently verify their account performance, profit calculations, and payout history at any time. This is a meaningful shift in an industry where trust has become a defining issue, especially as prop trading challenges continue to attract new participants who may be unfamiliar with how different firms handle funded accounts behind the scenes.
Who Is Behind Propr?
Propr was developed by XBorg, an AI studio previously known for building fan engagement technology in the esports space. The project is backed by SwissBorg, a well-known European digital asset platform. Together, the teams raised a $1.5 million seed round to fund the development and launch of the platform.
The firm has also introduced a native token, $PROPR, with 13% of the total supply allocated as an airdrop to XBG stakers. The token is designed to align the interests of the trading community with the platform itself, though the full token generation event is scheduled for later in 2026.
What This Means for the Broader Prop Industry
Propr’s launch arrives at a time when the prop trading sector is undergoing rapid consolidation. With nearly a third of all prop firms disappearing over the past two years, the surviving firms are under increasing pressure to differentiate through credibility, technology, and trust.
By building on decentralized infrastructure, Propr is staking out a position at the intersection of DeFi and funded trading, an area that remains largely untapped. For traders who are comfortable operating in the crypto derivatives space, it represents a new kind of funded account experience – one where the rules of engagement are encoded onchain rather than buried in terms and conditions.
Whether this model gains mainstream traction will depend on how well Propr executes on its promises and whether crypto-native traders are willing to embrace a prop firm framework. But as the industry continues to evolve, onchain transparency could become a competitive advantage that traditional firms will struggle to replicate.
