Silhouette
Privacy-preserving shielded DEX on Hyperliquid using TEEs to mask order flow, protecting traders from frontrunning and MEV
Farming Overview
Key Statistics
How to Farm Silhouette
- Shielded spot is live and open — the closed beta and the $5M volume gate have both been removed
- Trade shielded spot now — rebates and claiming sit at 0% and are explicitly configured for a future rollout, the clearest pre-token signal so far
- Referral codes unlock at $10K notional volume — far below the old gate
- Perps and RFQ are still to come; spot is the only venue today
Why Farm Silhouette?
- $3M pre-seed led by RockawayX with Amber Group, HiveMind, NGC Ventures, Protagonist
- First shielded DEX on Hyperliquid — TEE-based order matching hides intent from MEV/frontrunners, zero competitors
- Institutional order types (TWAP, VWAP, RFQ) across HyperCore and HyperEVM — built for prop desks and funds
- $5M+ HL volume requirement gates access — small, high-value user base ideal for outsized per-user airdrop
- Pre-product, pre-token, closed-alpha — absolute earliest entry before any public launch or points program
- Privacy narrative accelerating with ~40% of HYPE supply earmarked for future rewards
About Silhouette
Silhouette is the first shielded DEX on Hyperliquid, bringing dark-pool-style private trading to DeFi. Orders enter an off-chain matching engine running inside decentralized TEEs, where data stays encrypted and only the matching logic sees plain-text size and price. Unmatched orders route to Hyperliquid's public order book, solving the cold-start liquidity problem.
Similar Perp DEX Protocols
Frequently Asked Questions
What is Silhouette and how does it work?
Silhouette is the first shielded DEX on Hyperliquid, bringing dark-pool-style private trading to DeFi. Orders enter an off-chain matching engine running inside decentralized TEEs, where data stays encrypted and only the matching logic sees plain-text size and price. Unmatched orders route to Hyperliquid's public order book, solving the cold-start liquidity problem.
How do I farm the Silhouette airdrop?
To farm the Silhouette airdrop, you should: Shielded spot is live and open — the closed beta and the $5M volume gate have both been removed. Trade shielded spot now — rebates and claiming sit at 0% and are explicitly configured for a future rollout, the clearest pre-token signal so far. Referral codes unlock at $10K notional volume — far below the old gate. Perps and RFQ are still to come; spot is the only venue today. Silhouette is currently in the early farming stage with speculative airdrop status.
What is the expected value of the Silhouette airdrop?
The Silhouette airdrop has an expected value rating of 4 out of 5 ($$$$). The farming stage is early and the airdrop status is speculative. Expected value ratings on The Farmers Market consider factors like protocol TVL, funding, team quality, and token economics.
Why should I farm Silhouette?
$3M pre-seed led by RockawayX with Amber Group, HiveMind, NGC Ventures, Protagonist First shielded DEX on Hyperliquid — TEE-based order matching hides intent from MEV/frontrunners, zero competitors Institutional order types (TWAP, VWAP, RFQ) across HyperCore and HyperEVM — built for prop desks and funds