feat: implement fund application process with admin review and user submission

prisma/schema.prisma

@@ -22,13 +22,14 @@ model User {
   isFund         Boolean       @default(false)
   isHidden       Boolean       @default(false)  // hidden from leaderboards and public listings
 
-  positions      Position[]
+  positions        Position[]
-  trades         Trade[]
+  trades           Trade[]
-  passwordResets PasswordReset[]
+  passwordResets   PasswordReset[]
-  managedFunds   FundManager[]
+  managedFunds     FundManager[]
-  fund           HedgeFund?
+  fund             HedgeFund?
-  fundInvestments FundInvestment[]
+  fundInvestments  FundInvestment[]
   portfolioHistory UserPortfolioHistory[]
+  fundApplication  FundApplication?
 }
 
 model HedgeFund {
@@ -213,3 +214,12 @@ enum TradeType {
   FUND_INVEST   // invested cash into a hedge fund
   FUND_REDEEM   // redeemed shares from a hedge fund
 }
+
+model FundApplication {
+  id        String   @id @default(cuid())
+  userId    String   @unique
+  user      User     @relation(fields: [userId], references: [id], onDelete: Cascade)
+  fundName  String
+  reason    String
+  createdAt DateTime @default(now())
+}

src/app/about/page.tsx

@@ -149,6 +149,12 @@ export default function AboutPage() {
             Fund shares are stored to 6 decimal places. Fund accounts cannot sign in directly and do not earn
             research points or play the lottery.
           </p>
+          <p className="text-xs">
+            Want to run your own fund?{' '}
+            <Link href="/fund/apply" className="text-indigo-400 hover:text-indigo-300 underline underline-offset-2">
+              Apply here →
+            </Link>
+          </p>
         </div>
       </Section>
 

src/app/admin/funds/AdminFundApplications.tsx

@@ -0,0 +1,159 @@
+'use client'
+
+import { useState } from 'react'
+import { useRouter } from 'next/navigation'
+import { FileText, Check, X, ChevronDown, ChevronUp } from 'lucide-react'
+
+interface Applicant {
+  id: string
+  username: string
+  displayUsername: string | null
+}
+
+interface Application {
+  id: string
+  fundName: string
+  reason: string
+  createdAt: string
+  user: Applicant
+}
+
+export default function AdminFundApplications({ applications: initial }: { applications: Application[] }) {
+  const router = useRouter()
+  const [applications, setApplications] = useState<Application[]>(initial)
+  const [expanded, setExpanded] = useState<string | null>(null)
+  const [approveId, setApproveId] = useState<string | null>(null)
+  const [startingBalance, setStartingBalance] = useState('0')
+  const [error, setError] = useState('')
+  const [loading, setLoading] = useState(false)
+
+  async function approve(app: Application) {
+    setLoading(true)
+    setError('')
+    const res = await fetch(`/api/admin/fund-applications/${app.id}`, {
+      method: 'POST',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ action: 'approve', startingBalance: parseFloat(startingBalance) || 0 }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) { setError(data.error ?? 'Failed'); return }
+    setApplications(applications.filter((a) => a.id !== app.id))
+    setApproveId(null)
+    router.refresh()
+  }
+
+  async function deny(id: string) {
+    if (!confirm('Deny this application? The applicant will not be notified.')) return
+    setLoading(true)
+    const res = await fetch(`/api/admin/fund-applications/${id}`, {
+      method: 'POST',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ action: 'deny' }),
+    })
+    setLoading(false)
+    if (res.ok) {
+      setApplications(applications.filter((a) => a.id !== id))
+      router.refresh()
+    }
+  }
+
+  if (applications.length === 0) {
+    return (
+      <p className="text-slate-500 text-sm">No pending fund applications.</p>
+    )
+  }
+
+  return (
+    <div className="space-y-3">
+      {error && (
+        <p className="text-red-400 text-sm bg-red-400/10 border border-red-400/20 rounded-lg px-3 py-2">{error}</p>
+      )}
+      {applications.map((app) => (
+        <div key={app.id} className="bg-surface-card border border-amber-500/20 rounded-xl overflow-hidden">
+          <div className="flex items-start justify-between px-4 py-3">
+            <div className="flex items-start gap-3 min-w-0">
+              <FileText className="h-4 w-4 text-amber-400 mt-0.5 shrink-0" />
+              <div className="min-w-0">
+                <p className="font-medium text-sm">{app.fundName}</p>
+                <p className="text-xs text-slate-500">
+                  by{' '}
+                  <span className="text-slate-300">{app.user.displayUsername ?? app.user.username}</span>
+                  {' '}· {new Date(app.createdAt).toLocaleDateString()}
+                </p>
+              </div>
+            </div>
+
+            <div className="flex items-center gap-2 ml-4 shrink-0">
+              <button
+                onClick={() => setExpanded(expanded === app.id ? null : app.id)}
+                className="text-slate-400 hover:text-slate-200 transition-colors"
+                aria-label="Toggle reason"
+              >
+                {expanded === app.id ? <ChevronUp className="h-4 w-4" /> : <ChevronDown className="h-4 w-4" />}
+              </button>
+              <button
+                onClick={() => deny(app.id)}
+                disabled={loading}
+                className="p-1.5 text-red-400 hover:text-red-300 hover:bg-red-400/10 rounded-lg transition-colors disabled:opacity-50"
+                title="Deny application"
+              >
+                <X className="h-4 w-4" />
+              </button>
+              <button
+                onClick={() => setApproveId(approveId === app.id ? null : app.id)}
+                disabled={loading}
+                className="p-1.5 text-green-400 hover:text-green-300 hover:bg-green-400/10 rounded-lg transition-colors disabled:opacity-50"
+                title="Approve application"
+              >
+                <Check className="h-4 w-4" />
+              </button>
+            </div>
+          </div>
+
+          {expanded === app.id && (
+            <div className="px-4 pb-3 text-sm text-slate-300 whitespace-pre-wrap border-t border-surface-border pt-3">
+              {app.reason}
+            </div>
+          )}
+
+          {approveId === app.id && (
+            <div className="px-4 pb-4 border-t border-surface-border pt-3 space-y-3">
+              <p className="text-xs text-slate-400">
+                Approve <span className="text-white font-medium">{app.fundName}</span> for{' '}
+                <span className="text-slate-200">{app.user.displayUsername ?? app.user.username}</span>
+              </p>
+              <div className="flex items-center gap-3">
+                <div>
+                  <label className="text-xs text-slate-500 block mb-1">Starting Balance ($)</label>
+                  <input
+                    type="number"
+                    min="0"
+                    value={startingBalance}
+                    onChange={(e) => setStartingBalance(e.target.value)}
+                    className="w-32 bg-surface border border-surface-border rounded-lg px-3 py-1.5 text-sm focus:outline-none focus:ring-2 focus:ring-green-500"
+                  />
+                </div>
+                <div className="flex gap-2 mt-4">
+                  <button
+                    onClick={() => approve(app)}
+                    disabled={loading}
+                    className="px-3 py-1.5 bg-green-600 hover:bg-green-500 text-white text-xs rounded-lg disabled:opacity-50 transition-colors"
+                  >
+                    Confirm Approval
+                  </button>
+                  <button
+                    onClick={() => setApproveId(null)}
+                    className="px-3 py-1.5 text-xs text-slate-400 hover:text-slate-100"
+                  >
+                    Cancel
+                  </button>
+                </div>
+              </div>
+            </div>
+          )}
+        </div>
+      ))}
+    </div>
+  )
+}

src/app/admin/funds/page.tsx

@@ -1,24 +1,50 @@
 import { prisma } from '@/lib/prisma'
 import AdminFundActions from './AdminFundActions'
+import AdminFundApplications from './AdminFundApplications'
 
 export const dynamic = 'force-dynamic'
 
 export default async function AdminFundsPage() {
-  const funds = await prisma.hedgeFund.findMany({
+  const [funds, applications] = await Promise.all([
-    orderBy: { createdAt: 'asc' },
+    prisma.hedgeFund.findMany({
-    include: {
+      orderBy: { createdAt: 'asc' },
-      user: { select: { balance: true } },
+      include: {
-      managers: {
+        user: { select: { balance: true } },
-        include: { user: { select: { id: true, username: true, displayUsername: true } } },
+        managers: {
-        orderBy: { addedAt: 'asc' },
+          include: { user: { select: { id: true, username: true, displayUsername: true } } },
+          orderBy: { addedAt: 'asc' },
+        },
       },
-    },
+    }),
-  })
+    prisma.fundApplication.findMany({
+      orderBy: { createdAt: 'asc' },
+      include: { user: { select: { id: true, username: true, displayUsername: true } } },
+    }),
+  ])
+
+  const serialisedApplications = applications.map((a) => ({
+    ...a,
+    createdAt: a.createdAt.toISOString(),
+  }))
 
   return (
-    <div className="space-y-4">
+    <div className="space-y-8">
-      <h2 className="text-lg font-semibold">Hedge Funds</h2>
+      <div className="space-y-4">
-      <AdminFundActions funds={funds} />
+        <h2 className="text-lg font-semibold flex items-center gap-2">
+          Fund Applications
+          {applications.length > 0 && (
+            <span className="text-xs bg-amber-500/20 text-amber-400 border border-amber-500/30 rounded-full px-2 py-0.5">
+              {applications.length}
+            </span>
+          )}
+        </h2>
+        <AdminFundApplications applications={serialisedApplications} />
+      </div>
+
+      <div className="space-y-4">
+        <h2 className="text-lg font-semibold">Hedge Funds</h2>
+        <AdminFundActions funds={funds} />
+      </div>
     </div>
   )
 }

src/app/api/admin/fund-applications/[applicationId]/route.ts

@@ -0,0 +1,100 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { z } from 'zod'
+import bcrypt from 'bcryptjs'
+
+function toSlug(name: string) {
+  return name.toLowerCase().replace(/[^a-z0-9]+/g, '-').replace(/^-|-$/g, '')
+}
+
+const approveSchema = z.object({
+  action: z.literal('approve'),
+  startingBalance: z.number().min(0).default(0),
+})
+
+const denySchema = z.object({
+  action: z.literal('deny'),
+})
+
+/**
+ * POST /api/admin/fund-applications/[applicationId]
+ * action: 'approve' — creates the fund, adds applicant as manager, deletes the application
+ * action: 'deny'    — deletes the application
+ */
+export async function POST(
+  req: NextRequest,
+  { params }: { params: { applicationId: string } }
+) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user?.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const application = await prisma.fundApplication.findUnique({
+    where: { id: params.applicationId },
+    include: { user: { select: { id: true, username: true } } },
+  })
+  if (!application) {
+    return NextResponse.json({ error: 'Application not found' }, { status: 404 })
+  }
+
+  const body = await req.json()
+
+  if (body.action === 'deny') {
+    await prisma.fundApplication.delete({ where: { id: params.applicationId } })
+    return NextResponse.json({ ok: true })
+  }
+
+  const parsed = approveSchema.safeParse(body)
+  if (!parsed.success) {
+    return NextResponse.json({ error: parsed.error.errors[0]?.message ?? 'Invalid input' }, { status: 400 })
+  }
+
+  const { startingBalance } = parsed.data
+  const name = application.fundName
+  const slug = toSlug(name)
+  const shadowUsername = `fund:${slug}`
+
+  // Check for conflicts
+  const [existingFund, existingSlug, existingUser] = await Promise.all([
+    prisma.hedgeFund.findFirst({ where: { name: { equals: name, mode: 'insensitive' } } }),
+    prisma.hedgeFund.findUnique({ where: { slug } }),
+    prisma.user.findUnique({ where: { username: shadowUsername } }),
+  ])
+
+  if (existingFund) return NextResponse.json({ error: 'A fund with that name already exists.' }, { status: 409 })
+  if (existingSlug) return NextResponse.json({ error: 'A fund with that slug already exists.' }, { status: 409 })
+  if (existingUser) return NextResponse.json({ error: 'Shadow user conflict.' }, { status: 409 })
+
+  const fund = await prisma.$transaction(async (tx) => {
+    const shadowUser = await tx.user.create({
+      data: {
+        username: shadowUsername,
+        displayUsername: name,
+        passwordHash: await bcrypt.hash(crypto.randomUUID(), 10),
+        balance: startingBalance,
+        isFund: true,
+      },
+    })
+
+    const newFund = await tx.hedgeFund.create({
+      data: { name, slug, userId: shadowUser.id, sharesOutstanding: 0 },
+      include: {
+        user: { select: { balance: true } },
+        managers: { include: { user: { select: { id: true, username: true, displayUsername: true } } } },
+      },
+    })
+
+    await tx.fundManager.create({
+      data: { fundId: newFund.id, userId: application.userId },
+    })
+
+    await tx.fundApplication.delete({ where: { id: application.id } })
+
+    return { ...newFund, managers: [{ id: 'new', userId: application.userId, user: application.user }] }
+  })
+
+  return NextResponse.json(fund, { status: 201 })
+}

src/app/api/fund-applications/route.ts

@@ -0,0 +1,64 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { z } from 'zod'
+
+const submitSchema = z.object({
+  fundName: z.string().min(1).max(60),
+  reason: z.string().min(10).max(1000),
+})
+
+/**
+ * GET /api/fund-applications
+ * Returns the current user's pending application, or null.
+ */
+export async function GET() {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  const application = await prisma.fundApplication.findUnique({
+    where: { userId: session.user.id },
+  })
+
+  return NextResponse.json(application)
+}
+
+/**
+ * POST /api/fund-applications
+ * Submit a fund application. One per user at a time.
+ */
+export async function POST(req: NextRequest) {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  const body = await req.json()
+  const parsed = submitSchema.safeParse(body)
+  if (!parsed.success) {
+    return NextResponse.json({ error: parsed.error.errors[0]?.message ?? 'Invalid input' }, { status: 400 })
+  }
+
+  const { fundName, reason } = parsed.data
+
+  try {
+    const application = await prisma.fundApplication.create({
+      data: { userId: session.user.id, fundName: fundName.trim(), reason: reason.trim() },
+    })
+    return NextResponse.json(application, { status: 201 })
+  } catch {
+    // Unique constraint violation — already has a pending application
+    return NextResponse.json({ error: 'You already have a pending application.' }, { status: 409 })
+  }
+}
+
+/**
+ * DELETE /api/fund-applications
+ * Withdraw the current user's pending application.
+ */
+export async function DELETE() {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  await prisma.fundApplication.deleteMany({ where: { userId: session.user.id } })
+  return NextResponse.json({ ok: true })
+}

src/app/fund/apply/FundApplicationClient.tsx

@@ -0,0 +1,147 @@
+'use client'
+
+import { useState } from 'react'
+import { useRouter } from 'next/navigation'
+import Link from 'next/link'
+import { Building2, Clock, CheckCircle } from 'lucide-react'
+
+interface Props {
+  existing: { fundName: string; reason: string; createdAt: string } | null
+  managedFund: { name: string; slug: string } | null
+}
+
+export default function FundApplicationClient({ existing, managedFund }: Props) {
+  const router = useRouter()
+  const [fundName, setFundName] = useState('')
+  const [reason, setReason] = useState('')
+  const [error, setError] = useState('')
+  const [loading, setLoading] = useState(false)
+  const [withdrawing, setWithdrawing] = useState(false)
+
+  // Already a fund manager
+  if (managedFund) {
+    return (
+      <div className="bg-surface-card border border-surface-border rounded-xl p-6 space-y-3">
+        <div className="flex items-center gap-3">
+          <CheckCircle className="h-5 w-5 text-green-400" />
+          <p className="font-medium">You already manage a fund</p>
+        </div>
+        <p className="text-sm text-slate-400">
+          You are a manager of{' '}
+          <Link href={`/fund/${managedFund.slug}`} className="text-indigo-400 hover:text-indigo-300 underline underline-offset-2">
+            {managedFund.name}
+          </Link>
+          .
+        </p>
+      </div>
+    )
+  }
+
+  // Pending application
+  if (existing) {
+    async function withdraw() {
+      setWithdrawing(true)
+      await fetch('/api/fund-applications', { method: 'DELETE' })
+      setWithdrawing(false)
+      router.refresh()
+    }
+
+    return (
+      <div className="bg-surface-card border border-indigo-500/30 rounded-xl p-6 space-y-4">
+        <div className="flex items-center gap-3">
+          <Clock className="h-5 w-5 text-amber-400" />
+          <p className="font-medium">Application pending review</p>
+        </div>
+        <div className="space-y-2 text-sm">
+          <div>
+            <span className="text-slate-500 text-xs uppercase tracking-wide">Fund Name</span>
+            <p className="text-white mt-0.5">{existing.fundName}</p>
+          </div>
+          <div>
+            <span className="text-slate-500 text-xs uppercase tracking-wide">Reason</span>
+            <p className="text-slate-300 mt-0.5 whitespace-pre-wrap">{existing.reason}</p>
+          </div>
+          <p className="text-xs text-slate-500">
+            Submitted {new Date(existing.createdAt).toLocaleDateString()}
+          </p>
+        </div>
+        <button
+          onClick={withdraw}
+          disabled={withdrawing}
+          className="text-xs text-red-400 hover:text-red-300 transition-colors disabled:opacity-50"
+        >
+          {withdrawing ? 'Withdrawing…' : 'Withdraw application'}
+        </button>
+      </div>
+    )
+  }
+
+  // Submit form
+  async function handleSubmit(e: React.FormEvent) {
+    e.preventDefault()
+    if (!fundName.trim() || !reason.trim()) return
+    setLoading(true)
+    setError('')
+    const res = await fetch('/api/fund-applications', {
+      method: 'POST',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ fundName: fundName.trim(), reason: reason.trim() }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) { setError(data.error ?? 'Failed to submit'); return }
+    router.refresh()
+  }
+
+  return (
+    <form onSubmit={handleSubmit} className="bg-surface-card border border-surface-border rounded-xl p-6 space-y-4">
+      <div className="flex items-center gap-2 text-slate-300">
+        <Building2 className="h-5 w-5 text-indigo-400" />
+        <span className="font-medium">New Fund Application</span>
+      </div>
+
+      {error && (
+        <p className="text-red-400 text-sm bg-red-400/10 border border-red-400/20 rounded-lg px-3 py-2">{error}</p>
+      )}
+
+      <div>
+        <label className="text-xs text-slate-500 uppercase tracking-wide block mb-1">
+          Fund Name <span className="normal-case">(max 60 chars)</span>
+        </label>
+        <input
+          value={fundName}
+          onChange={(e) => setFundName(e.target.value)}
+          maxLength={60}
+          placeholder="TechAlpha Capital"
+          required
+          className="w-full bg-surface border border-surface-border rounded-lg px-3 py-2 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500"
+        />
+      </div>
+
+      <div>
+        <label className="text-xs text-slate-500 uppercase tracking-wide block mb-1">
+          Why do you want to run this fund?
+        </label>
+        <textarea
+          value={reason}
+          onChange={(e) => setReason(e.target.value)}
+          rows={5}
+          minLength={10}
+          maxLength={1000}
+          placeholder="Describe your strategy, what hashtags you plan to focus on, and why you'd be a good fund manager…"
+          required
+          className="w-full bg-surface border border-surface-border rounded-lg px-3 py-2 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500 resize-none"
+        />
+        <p className="text-xs text-slate-600 mt-0.5 text-right">{reason.length}/1000</p>
+      </div>
+
+      <button
+        type="submit"
+        disabled={loading || !fundName.trim() || reason.trim().length < 10}
+        className="w-full py-2 bg-indigo-600 hover:bg-indigo-500 text-white text-sm font-medium rounded-lg disabled:opacity-50 transition-colors"
+      >
+        {loading ? 'Submitting…' : 'Submit Application'}
+      </button>
+    </form>
+  )
+}

src/app/fund/apply/page.tsx

@@ -0,0 +1,35 @@
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { redirect } from 'next/navigation'
+import { prisma } from '@/lib/prisma'
+import FundApplicationClient from './FundApplicationClient'
+
+export const dynamic = 'force-dynamic'
+
+export default async function FundApplyPage() {
+  const session = await getServerSession(authOptions)
+  if (!session) redirect('/auth/signin?callbackUrl=/fund/apply')
+
+  const [application, managedFund] = await Promise.all([
+    prisma.fundApplication.findUnique({ where: { userId: session.user.id } }),
+    prisma.fundManager.findFirst({
+      where: { userId: session.user.id },
+      include: { fund: { select: { name: true, slug: true } } },
+    }),
+  ])
+
+  return (
+    <div className="max-w-xl mx-auto space-y-6 py-8">
+      <div>
+        <h1 className="text-2xl font-bold">Apply for a Hedge Fund</h1>
+        <p className="text-slate-400 text-sm mt-1">
+          Propose a new fund. Admins will review your application and approve or deny it.
+        </p>
+      </div>
+      <FundApplicationClient
+        existing={application ? { fundName: application.fundName, reason: application.reason, createdAt: application.createdAt.toISOString() } : null}
+        managedFund={managedFund ? { name: managedFund.fund.name, slug: managedFund.fund.slug } : null}
+      />
+    </div>
+  )
+}