👀 On-chain prop firms taking transparency to another level

Hi everyone, another week is upon us and the markets are open, so let’s get into it.

One of the most interesting trends this year has been the rise of on-chain prop firms, aiming to bring a new level of transparency to the industry by making trader purchases, accounts, positions and payouts publicly verifiable.

Propr took that transparency a step further this week by publishing the exact strategy it uses to hedge its trader exposure, with the strategy generating around $250k over the past 30 days.

It is perhaps no surprise then to see Propr already putting up payout numbers alongside some of the biggest firms in the industry.

Definitely a trend worth watching. On-chain firms are still relatively new, but this level of transparency could have a big impact on how the wider industry operates over the next few years.

📢  Firm Announcements

• Apex Trader Funding launched its GEM MT 10 offer, allowing traders to hold up to 20 PA accounts, pass in one day and keep a 100% profit split.

• Tradeify launched two limited edition 300K accounts under its Forge/Labs banner. Both have now sold out, but the firm says more releases are on the way.

• FundedNext Futures introduced Rapid, including a Rapid Daily option for traders looking for daily payouts.

• Breakout made several major changes, cutting evaluation prices by up to 42%, allowing up to $200K in combined funding and adding Nasdaq, S&P 500, Oil and Silver with 10x leverage. The firm also clarified that its drawdown floor is static and does not trail.

• Lucid Trading stopped offering crypto payouts to traders in China, Hong Kong, Taiwan, Singapore and Malaysia following what it says was coordinated fraudulent activity. Affected traders will now receive payouts through WorkMarket.

From Payout Junction, here are the firms that paid out the most over the last 7 days 🏆️.

🔥 Monitor prop firm payouts LIVE on Payout Junction - https://payoutjunction.com.

🕜 Red Folder News

Here are this week’s red folder news events. Non-Farm Payrolls on Friday is the biggest event of the week. Interest rates are back in focus following Fed Chair Warsh’s Jackson Hole speech on Friday, with markets now pricing in a 50% chance of a hike at the next meeting.

📈 Markets

September Seasonality

On a 20 year lookback, September tends to be the whipsaw month for the S&P 500. A sharp breakout, followed by a full retracement clearing everyone’s stops, before the seasonal Q4 rally kicks off in October.

Where has the volume gone?

S&P500 prints it’s lowest weekly volume since December 2004. I’m not sure how to explain this, but it is notable.

Gold back in demand.

Not overly surprising but the latest gold squeeze has attracted the biggest inflows since October 2025. Gold closed at it’s weekly lows on Friday, so lots of traders are going into this week underwater. Find where their stops are and you’ll probably make money.

Trump approval ratings at the lows

Ahead of the midterms, expect lots of scattergun policies thrown at the wall to see what sticks. Markets will likely stay supported (see Bessent doubling Treasury buybacks), but we could be entering volatility season, so gains won’t come easy.

Gonna be an interesting week. Have a good one!

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Monitor prop firm payouts LIVE on Payout Junction 🔥