Trench Capital policy

rules & payouts.

every rule is mechanical and enforced by the sim engine. no risk-team discretion. if the server lets you fill the trade, the pnl counts.

evaluation

profit target8% of starting balance

daily loss limit5% of starting

max drawdown10% off balance hwm (trails realized profit)

min trading days3

single-token cap (graduated)25% of equity

single-token cap (bonding)8% of equity

max open positions5

min order size$25

shortsdisabled in v1

payouts

cadenceevery 48h

profit split80/19.999999999999996

winning days needed5 (≥ $100)

min total profit$500

min new profit per cycle$250

payout tokensol (usdc opt-in)

consistency

best winning day, as % of cycle profit. relaxes per payout.

payout #140% max best day

payout #230% max best day

payout #320% max best day

payout #4off

fill model — transparency

· orders are timestamped server-side, not client-side

· every fill waits 300–800 ms (random) before pricing

· graduated: 35 bps base + size impact (notional / pool liquidity)

· bonding curve: 200 bps base + size impact (thinner books)

· server downgrades to bonding rules if observed liquidity < $5k

· max simulated slippage capped at 800 bps even on tiny pools

heads up

all trading is simulated. memecoins are extremely volatile and most go to zero. Trench Capitalprovides a skill evaluation; payouts are at the firm's discretion within these published rules. restricted jurisdictions blocked. you are responsible for tax reporting where you live.