Glossary
Technical terms used throughout Silhouette documentation.
A
Agent Wallet
See Delegated Wallet.
Attestation
Cryptographic proof, signed by the hardware platform, that verifies the exact code running inside a Trusted Execution Environment. Used to prove computational integrity without trusting the operator.
B
Builder Codes
Hyperliquid's native framework that allows third-party applications to place trades on the Hyperliquid order book. Silhouette uses Builder Codes for naked trading.
D
Delegated Wallet
Fresh Hyperliquid wallets used by Silhouette's TEE to execute shielded trades on HyperCore. Aggregate activity from multiple users, obscuring individual trader identity during settlement.
H
HyperBFT
Consensus mechanism securing the Hyperliquid blockchain, covering both HyperCore and HyperEVM.
HyperCore
The high-performance trading engine of Hyperliquid. Purpose-built for financial primitives with sub-millisecond execution. This is where Silhouette's shielded trades settle.
HyperEVM
The Ethereum Virtual Machine-compatible layer of Hyperliquid. Supports smart contracts and decentralized applications.
I
Immediate or Cancel (IoC)
Order type used when Silhouette submits shielded trades to Hyperliquid. The order either executes immediately or cancels, no resting orders are left on the book.
M
Matching Engine
The system inside Silhouette's TEE that processes and matches shielded orders according to price-time priority rules.
N
Naked Trading
Trading on Silhouette with full public visibility. Orders route directly to Hyperliquid via Builder Codes, identical to any other Hyperliquid frontend.
Net Settlement
A design where only the final net result of trading activity is reflected onchain, rather than individual trades. Reduces onchain footprint and strengthens confidentiality.
O
Order Book
The list of buy and sell orders for a trading pair on Hyperliquid. Silhouette's shielded trades execute against this same order book.
P
PCR0
Platform Configuration Register 0. A SHA-384 hash of the Enclave Image File that uniquely identifies the exact code running inside an AWS Nitro Enclave.
S
Settlement
The final execution and clearing of trades on Hyperliquid's order book. For shielded trades, settlement occurs through delegated wallets.
Shielded Trading
Trading on Silhouette where your orders are processed inside the TEE and executed via delegated wallets. Your identity, size, and intent are hidden from the public ledger.
T
TEE (Trusted Execution Environment)
A hardware-isolated computing environment that enables confidential computation. Silhouette uses AWS Nitro Enclaves. Data inside the enclave is not readable by the Silhouette team or the cloud provider.
Transparency Tax
Aggregate execution cost attributable to public-ledger visibility of trading activity, including front-running, copy trading, liquidation hunting, and strategy decay.
This documentation is for informational purposes only and does not constitute financial advice.