One token powers the first fully
decentralized prop firm.
How θ converts trader demand into burned and locked supply — mechanically, in code — plus buybacks from product revenue.
Firms stake traders. Profits get split.
The deal
a trader pays a small fee for an evaluation — a trading test. Pass, and they trade the firm's capital, keeping most of the profits.
Why traders come
talent without capital is the oldest problem in trading — this converts skill into institutional-size buying power, from a laptop, anywhere.
Why firms exist
evaluation fees plus a share of winners' profits — a business built on finding trading talent at global scale.
Retail prop trading exploded.
The market leader
per FTMO's public filings — ~$90M profit for 2023
The underlying markets
the deepest markets in the world — demand for access is proven
closed, centralized, adversarial rails.
The standard evaluation is engineered for failure.
The math trap
8–10% target · ~5% drawdown · small capital — the only fast way through is oversized trades
Capital vs time
pass honestly at 1–2%/month and it takes months — almost nobody waits. They size up, blow up, and buy another eval
The fix firms won't ship
raise the drawdown, or raise the funding. Nobody sustains 5%/mo — but 1–2%/mo on $1M is a career. Honest odds on real capital means paying winners
by design.
The house takes the other side.
2024 — how b-books exit
in a single year — fees banked, $50M+ of trader payouts left unpaid (Finance Magnates Intelligence / industry estimates)
The Funded Trader
80,000+ accounts — was denying withdrawals while still operating (its own CEO admitted $2M+ denied in two months), then froze payouts entirely (2024)
True Forex Funds
sold evaluations right up to the day it shut down — then closed owing traders ~$1.2M (2024)
the house finds a way not to pay.
Vanta makes money when funding grows.
- ✓100% profit split — every dollar of trader profit stays with the trader
- ✓Funding scales to $2.5M — quarterly, performance-gated
- ✓Open-source rules — every rule is public code; nothing hidden to invoke
- ✓Payouts verifiable on-chain — settled in public; built so denial isn't an option
- ✓Decentralized network — validators enforce the rules, not a desk with discretion
- ✓Proven traders are A-booked — backed in real markets, not bet against
Build. Prove. Then $1M.
BUILD — Vanta Labs
an agentic platform — a swarm of AI agents to develop & test strategies
PROVE — Pro accounts
a harder, honest test: Sharpe > 1 over 90+ days, realistic drawdown, no deadline
SCALE — $1M capital
release the proven strategy onto up to $1M — capital where 1–2%/mo is real money
Harder, on purpose
a 90-day, risk-adjusted gate filters skill from luck — it cannot be passed by gambling
The complete shift
churn-and-burn inverted: real strategies, real edge, risk-adjusted returns, on larger capital — a firm built on surviving traders, unlike the 80–100 that vanished in 2024
Glitch distributes them. We A-book the best.
Glitch
retail copies the network's proven traders — built for SEC & CFTC compliance, entering a market where Wealthfront alone manages ~$100B
A-book
the best risk-adjusted strategies are A-booked via Glitch — routed into real markets, and their wins are our wins. The exact opposite of the b-book casino.
Back to θ
product revenue flows back as θ buybacks and burns
A model that only works when traders win is the moat.
Traders → miners → validators.
Built on Bittensor — a decentralized network of independent subnetworks.
One subnet: 256 miner slots.
The utility at the center of it all: access to funding —
delivered by smart contracts. Funding is the network's native utility.
Every account is paid for in θ.
Every registration burns it.
A $100,000 account — 1 θ = $5,000 of funding:
dollars to the entity miner — never tokens
that cash goes into the market for theta
≈ $140 at θ ≈ $7 · supply drops · account live
The burn happens up front — pass or fail.
Register
every registration burns θ up front — permanent, no refund, and no cap on registrations
Pass
hit the target inside the loss limits → trade network capital — and lock more θ as margin
Fail
the θ was already burned — demand never waits on outcomes
Funded accounts lock 14× the registration.
Rule
posted in θ, held for as long as the trader trades
On losses
losing θ is destroyed, permanently
Dollars in. θ burned. Funded accounts out.
Vanta Trading earns θ emissions in proportion to the PnL on the funding it fields — paid on performance, not volume, and never on failure.
And there is no other way to pay the network: every funded dollar routes through θ.
Eligible funding: $2M → $10M in 30 days (June → July 2026).
5× in a single month — on our flagship entity miner alone.
Every dollar of it paying the network, in θ, for access to funding.
Demand is built into the fee schedule.
Burned
≈ $140K of registrations — permanently removed from supply
Locked
≈ $100K of margin — held for as long as funded accounts trade
How θ goes up.
New θ is emitted continuously — the growth of emissions is the supply side.
θ rises when demand grows faster than emissions. Three mechanisms drive that:
1 · 0% miner burn — sustained by funding demand
no artificial burn of miner emissions is needed — organic funding demand (registration burns + margin locks) absorbs them. As eligible funding grows, the target is at minimum flat against emissions.
2 · Glitch revenue
product revenue buys back and burns θ — profits increase over time as distribution grows.
3 · The cost of funding — adjustable
the funding received per θ locked: today 1 θ = $5,000 → a $100K account locks 20 θ. At $2,500, it locks 40 θ — demand per funded dollar doubles. Set by network governance.
The loop compounds.
How you participate.
The asset — θ
every mechanism in this deck — burns, locks, buybacks — accrues to one asset: the network's token.
How you win
funding growth converts to θ demand by fee schedule — $2M→$10M already did it at pilot scale; $100M and $1B multiply it.
How to get exposure
θ is SN8 — listed on Kraken. Buying SN8 is direct exposure to the flywheel.
vantatrading.io · vantanetwork.io · github.com/taoshidev/vanta-network
θ ≈ $7 at time of writing — dollar figures move with price scale figures are estimates
Built from the “Tokenomics in Action” storyboard · press N for presenter notes