Glossary
The exact words Ultraprop uses, and what each one means. Where a term has a tempting synonym that means something subtly different, that's noted too.
Evaluation
The proving phase: a rule-bound test you trade through to earn a funded account. Not a "challenge" or a "demo." See The rules.
Evaluation fee
The tier-priced fee paid to start an evaluation. Not a subscription and not a deposit: it's a one-time entry fee per attempt. See Fees & payment.
Tier
Your evaluation's parameter set: account size, profit target, drawdown, daily loss limit, leverage cap. Starter, Basic, and Pro today; Elite and Whale in the funded phase. See Tiers & accounts.
Account size (notional)
The capital figure your account carries. It's notional: a standing the firm tracks for you, never money you custody. In the closed beta no real capital backs it; in the funded phase, real vault capital does, while your balance stays notional.
Profit target
The gain you must reach to pass your tier (8% or 10%).
Maximum drawdown
The most your account can fall from its starting balance before it's failed: a hard rule that ends the evaluation when crossed.
Daily loss limit
The most you can lose in a single UTC day (5%), reset at 00:00 UTC: a hard rule.
Trade budget
The cap on the number of trades per evaluation (200). A limit, not a failure condition.
Breach
Crossing a hard rule (drawdown or daily loss). A breach freezes the account immediately and ends the evaluation. See Passing & failing.
House tilt
The fixed +2 basis points applied against the trader on every fill: always disclosed, identical for everyone, deliberately conservative. See The fill & slippage model.
Bracket (TP / SL)
An optional take-profit and/or stop-loss attached to a position that closes it automatically at your trigger. One-cancels-the-other. See Placing trades.
Genesis credential
Your single, non-transferable, on-chain record of what you've proven. It levels up in place and accumulates history across attempts. Not a token, not an allocation. See The Genesis credential.
Funded account
A post-pass account backed by the firm's real capital, with a profit split and payouts. The funded phase is v2 and not yet live. See The funded phase.
Profit split
How profit on a funded account is divided between you and the firm (75/25 up to 90/10 by tier). See Profit splits & scaling.
Payout
An on-chain profit distribution to your account that off-ramps to fiat automatically. "Withdrawal" is fine as casual shorthand. Funded phase only. See Payouts.
Vault
The firm's real capital pool, funded by failed-evaluation fees, the firm's share of profit splits, and yield on idle stablecoins. It's on-chain and auditable. Distinct from the treasury, which collects evaluation fees.
Oracle
An independent on-chain price source (Pyth) used to sanity-check market prices and to gate trading when prices go stale. See Prices & oracles.
Inactive
An evaluation that auto-terminates after 7 days with no activity, recorded distinctly from a pass or a fail.