Skip to content
Proovly Docs

What is Proovly

Proovly is a skill-based trading arena built on Base. You compete in short, structured rounds against live market prices, climb a public on-chain ELO ladder, and — if you’re good enough — get backed by a community-funded vault to trade with real capital.

It is the replacement for the prop firm industry. Not a copy of it. Not a “better FTMO.” A different category that happens to occupy the same shelf in your brain.

What it is

Section titled “What it is”
  • A daily competition. One Daily Round per day, runs midnight-to-midnight UTC. $10 USDC entry, $10,000 synthetic starting balance, 10x leverage cap, three assets (BTC/ETH/SOL). Top 50% of finishers win prizes via a fixed harmonic curve. You’re not chasing a moving “challenge target” — you’re trying to outperform other humans inside a sealed 24-hour window.
  • Trustless. The Phase 1 contracts have no admin role, no pause function, no upgradeability. Once deployed, the bytecode is the bytecode forever. The platform’s bot can publish round results, but it cannot direct funds, change parameters, or pause trading. Worst-case bot key compromise is rank manipulation (publicly verifiable), never theft.
  • Pull-based payouts. When a round settles, the bot publishes a Merkle root on-chain. After a 24-hour challenge window (during which the root can be corrected if a mistake is found), winners pull their own prizes directly from the contract via claimPrize(roundId, rank, amount, proof). The platform never touches your winnings — you do.
  • On-chain. Round results, ELO state, Merkle roots, and contract balances all live on Base. You don’t need to trust a screenshot or a support ticket. You can read the chain.
  • Synthetic. All trades execute against live Pyth Network prices, cross-checked against Binance’s public ticker. Nothing routes to a real exchange. This is the same model every prop firm secretly runs — we just stop pretending and put the price feed and settlement on-chain.
  • Funded, eventually. The top of the ELO ladder gets a real funded synthetic account in Stage 3, paid out from a separate ERC-4626 vault that ships only after a real audit. 70/30 profit split in your favor. No challenge fees. No reset traps.
  • Open. Source code public from day one. Smart contracts use only OpenZeppelin audited primitives. A $5,000 hard cap on contract balance bounds the blast radius of any bug. 58 Foundry tests, fuzz tests, and Halmos symbolic verification stand in for the missing audit until the LP vault arrives in Stage 3.

What it isn’t

Section titled “What it isn’t”
  • Not a brokerage. You can’t withdraw to a bank. You can’t trade outside Proovly’s structured rounds. Profits settle in USDC on Base.
  • Not a regulated investment product. Proovly is a skill competition. It’s not advice, it’s not securities, it’s not a savings vehicle.
  • Not a prediction market. Polymarket bets on outcomes. Proovly rewards continuous skill — sizing, timing, risk management — across a session.
  • Not a copy-trading platform. You earn your ELO. No one trades for you. No one’s trades get mirrored automatically into your account.
  • Not an FTMO clone. No challenge fees disguised as opportunity. No “evaluation phase 1, evaluation phase 2.” No silent rule changes after you start winning.

Who it’s for

Section titled “Who it’s for”
  • Traders burned by prop firms. You bought a challenge. You hit the target. They moved the goalposts. You want a place where the rules are immutable code, not a Trustpilot review thread.
  • Crypto-native traders without capital. You can read order flow. You can manage risk. You don’t have $50k sitting around to size up. You want a ladder where skill, not deposit size, decides what you trade.
  • Competitive players who happen to like markets. You came up on poker, Dota, chess. You think trading is a game. You want a leaderboard that treats it like one.

Who it’s not for

Section titled “Who it’s not for”
  • People looking for passive yield. Go put USDC in Aave.
  • People who want to trade real spot/perps. Go to Hyperliquid or dYdX.
  • People who want a guaranteed “funded account” for a fee. That’s the thing we’re replacing — there is no guarantee here, only a ladder.

The thesis in one sentence

Section titled “The thesis in one sentence”

The prop firm industry is a $3B/year market built on a lie about how the trades happen. Take that exact same model, put it on-chain, and tell the truth — and the traders who were the inventory become the customers.