Trench Exchange Rewards Guide: Earn 35% Cashback on Hyperliquid Trades

Major Update: Trench Is No Longer Just a Solana Beta Terminal

The previous version of this article described Trench as a Solana trading terminal focused on memecoins, wallet tracking, launchpads and beta testing. That description is now incomplete.

Trench has repositioned its main product as a global perpetual-futures terminal powered by Hyperliquid. The current platform advertises more than 95 markets across cryptocurrencies, tokenized stock markets, commodities, benchmark indices, foreign exchange and selected pre-IPO names.

The application supports market, limit, stop-market, stop-limit, TWAP and scale orders. Traders can use cross or isolated margin, add take-profit and stop-loss orders and select leverage of up to 50× where available.

The older Solana functionality may still appear in parts of the ecosystem or documentation. However, users visiting the current homepage are now primarily directed toward the global futures product at app.trench.ag.

Is the Trench Exchange Airdrop Confirmed?

No. Trench has not announced a native token, token ticker, tokenomics, points program, snapshot, allocation, eligibility checker, claim page, or TGE.

The live cashback and referral systems should not be described as proof of a future token. These are revenue-sharing rewards calculated from trading fees, not an airdrop promise.

Using Trench could theoretically create an early-user and trading history if the team later introduces a points season. However, no official source currently confirms that trading volume, referral activity, account age, profit, or fee generation will qualify users for a future token.

Do not trade unnecessary volume only because somebody claims that Trench will launch a token. Until an official announcement appears on the Trench website or verified X account, the token-airdrop angle remains speculative.

What Is Trench Exchange?

Trench is a self-directed trading terminal that gives users access to perpetual futures across multiple global-market categories. Perpetual futures, commonly called perps, are derivative contracts that track an underlying market without a fixed expiry date.

Trench uses Hyperliquid-powered market infrastructure for liquidity and execution. Hyperliquid is a decentralized trading network widely used for on-chain perpetual markets.

Trench does not represent that users own the underlying stocks, commodities, currencies or pre-IPO shares. Users are trading perpetual contracts whose prices track those markets. A perpetual position in a stock market is not the same as owning company shares or receiving shareholder rights.

The platform describes itself as self-custodial. Users retain control over their funds and transactions rather than depositing assets with Trench as a traditional centralized broker. Wallet creation and key infrastructure are provided through Turnkey.

Self-custody does not eliminate risk. Users remain responsible for account recovery, transaction approval, collateral management, leverage, liquidation prices and every position opened through the terminal.

Confirmed Trench Rewards

35% Trading-Fee Cashback

Trench says every active trader receives a flat 35% cashback rate from the first trade. The documentation lists no volume tiers, unlock requirements or minimum trading level.

The documentation says the cashback structure applies across supported Spot and Perpetual activity. Users should check the live dashboard to confirm which markets currently qualify and how frequently cashback is credited or claimable.

Cashback reduces part of the trading cost. It does not protect traders from market losses, liquidation, funding payments, price movement or slippage.

Three-Level Referral Rewards

Trench publishes the following referral structure:

• Level 1: 30% from directly referred traders
• Level 2: 3% from the next referral level
• Level 3: 2% from the third referral level

Referral rewards are calculated from Trench trading fees. They do not include Hyperliquid fees, network costs, priority fees, launchpad taxes, funding payments or third-party exchange charges.

A signup alone may not create any referral income. Referred users must generate qualifying trading fees before the referrer earns a share.

Trench Exchange Fees

Trench currently documents a platform fee of 0.03%, or three basis points, on each trade. This is charged in addition to applicable Hyperliquid trading fees.

For a $10,000 taker trade, the published example shows a $3 Trench fee and a $4.50 Hyperliquid fee, producing a total of $7.50 before funding payments, slippage or any applicable cashback.

Fee schedules can change. Check the final order ticket before every trade rather than relying permanently on the rates shown in this article.

Our Experience Reviewing Trench Exchange

AirdropBuzz Team review status: We reviewed the current homepage, trading application, documentation index, onboarding instructions, fees, cashback, referral structure, security model, known risks, privacy policy and Terms of Use.

We did not fund an account, open a leveraged position, test a liquidation or verify a cashback withdrawal. This should therefore be treated as a product and documentation review rather than a payout test.

The onboarding flow allows users to continue with Google or connect a supported wallet such as Phantom. The wallet infrastructure is secured through Turnkey. Users then agree to the terms, explore the guided terminal and optionally fund the account.

Funding options advertised in the documentation include crypto deposits, cards, Apple Pay, Google Pay, Cash App, exchange connections and Binance Pay through integrated providers. Availability can differ by country and provider.

Documentation Mismatch to Watch

The current Trench website and documentation describe the platform as a global Hyperliquid-powered futures terminal. However, the Terms of Use last updated on March 4, 2026 still describe the Service mainly as a Solana digital-asset terminal.

The terms list integrations including Pump.fun, Raydium Launch Lab, Moonshot, Jupiter Studio, Bags, Meteora, Bonk Fun, Turnkey, Relay, Coinbase, Helius, Jito and other Solana transaction services.

This does not automatically mean Trench is unsafe, but it creates uncertainty about which contractual sections apply to the newer futures product. Users should read the latest live terms and any additional Hyperliquid-related conditions before depositing collateral.

Time vs Reward: Is Trench Worth Using?

Creating an account and exploring the interface should take approximately 10–20 minutes. Users can inspect markets, order types, charts and fee information without immediately opening a position.

Earning cashback requires real trades that generate fees. Referral rewards require referred users to become active traders. Therefore, Trench is most relevant to users who already plan to trade perpetual futures.

It is not worth creating artificial volume to earn cashback or chase an unconfirmed token. Trading fees, funding payments, spreads, slippage and losing positions can easily cost more than the cashback received.

The strongest approach is to compare Trench’s total execution cost, order tools and cashback against using Hyperliquid directly or another interface. Use Trench only when its features or effective fees provide real value to your normal trading strategy.

Risks & Things to Watch