DESK Referral Code — Trading Rewards

DESK is the perp DEX formerly known as HMX (and before that, Perp88). Trading through the referral link enrolls you in its rewards program on the cheapest posted fee schedule we track: a -1 bps maker rebate and a 1.75 bps taker fee. The big retroactive event has already happened — the DESK token airdropped 38.7% of its supply to early users in March 2025 — so what you are signing up for now is fee economics plus ongoing campaigns, not a pre-token lottery.

What DESK is

DESK is a decentralized perp exchange on Arbitrum and Base. It runs a central limit order book with off-chain matching and on-chain settlement, which lets it list a broad asset set without deep per-market liquidity pools. The rebrand from HMX added AI agent trading infrastructure and a major asset expansion: crypto perps, forex pairs, commodity futures, and tokenized US equities including AAPL, TSLA, and GOOGL.

The protocol reached $60 billion in cumulative volume and $21.5 million in fees by its March 2025 airdrop, making it one of the more established venues on Arbitrum by lifetime numbers. Be aware that activity has cooled substantially since that peak — check live volume and book depth on our perps directory before sizing up. Gasless, intent-based execution means the venue covers gas for traders.

Fees — the cheapest schedule we track

Makers earn a -1 bps rebate; takers pay 1.75 bps (0.0175%). A $10,000 round-trip taker trade costs $3.50. Hyperliquid's base taker rate (4.5 bps) costs more than double that per trade. Leverage runs to 1,000x on select pairs, with multi-asset collateral accepted for margin.

For high-frequency and market-making styles, this schedule is the headline: no other venue in our directory posts a better combination of maker rebate and taker fee.

The rewards structure after the March 2025 airdrop

The DESK token distributed 38.7% of supply to early users in March 2025 — a completed event, not a pending one. Since then, rewards run through periodic trading campaigns per the protocol schedule, and referrers earn up to 15% of referral fees. If you see guides pitching "farm HMX points for the airdrop," they describe the era that already paid out.

DESK vs competing Arbitrum perp DEXes

Arbitrum hosts several major perp DEXes: GMX V2, Gains Network, and DESK are the most prominent. DESK differentiates on raw fee economics (GMX V2 charges 4-6 bps against DESK's 1.75 bps taker) and on asset breadth — the tokenized-equity and forex coverage has no direct Arbitrum rival.

For traders already on Arbitrum, splitting volume across platforms based on active reward campaigns is a common approach. DESK's fee schedule makes it the natural venue for the taker-heavy share of that volume.

Getting started on DESK

Visit the referral link above. Connect an EVM-compatible wallet (MetaMask, Rabby, or similar). Bridge USDC or another supported collateral to Arbitrum or Base if needed. Rewards tracking is visible in the dashboard once you begin trading. Note the branding: the referral link uses the legacy HMX domain, which redirects to the current DESK site (desk.exchange).

Frequently Asked Questions