Shielded Trading
Shielded trading on Silhouette gives you full order confidentiality. Your trades are processed inside a secure execution environment, matched internally, and settled on Hyperliquid without revealing your identity, size, or intent. The only publicly visible events are your deposits and withdrawals.
How It Works
When you place a shielded order, it is routed to Silhouette's Trusted Execution Environment (TEE) - a secure, isolated computing environment hosted on AWS Nitro Enclaves. The TEE runs Silhouette's matching engine in a private environment that ensures orders are processed securely and confidentially. Trade data remains private to each user. Data inside the TEE is inaccessible to the Silhouette team.
The TEE processes your order and executes it on Hyperliquid's order book through delegated wallets - fresh wallets controlled by the TEE that aggregate volume from multiple users. Individual activity is obscured within the wallet's total volume, shielding your trading strategies.
After execution, your encrypted balance on the Silhouette smart contract is updated. Only you can decrypt your balance using your local encryption key.
What Is Currently Live
The current implementation of shielded trading on Silhouette works as follows:
- The TEE places orders on Hyperliquid via agent wallets it controls
- All orders execute as IoC (Immediate or Cancel), with no resting orders or pending states
- When trades fill, Silhouette updates your encrypted balance
- You access Hyperliquid's full order book depth without broadcasting your identity
This allows you to trade on the deepest liquidity in DeFi without publicly broadcasting your alpha. Your trades are anonymized, shielding your strategies from copy-trading bots, front-runners, and whale trackers.
What Stays Private
| What the public sees | What stays private |
|---|---|
| Your deposit to Silhouette | Your individual orders |
| Your withdrawal from Silhouette | Your fill prices and sizes |
| Aggregate volume from delegated wallets | Your balance inside Silhouette |
| Your strategy and intent |
Once you have deposited, trades update your encrypted balance on the Silhouette smart contract without revealing any details about your activity.
Supported Markets
Shielded trading currently supports spot markets on Hyperliquid. We are building shielded perpetuals, TWAP, VWAP, and RFQ order types.
Why Trade Shielded
Every trade you place on a transparent ledger is information. That information has value - and right now, you are giving it away for free.
- Accumulate without signalling. Buy HYPE for staking, HIP-3 deployment, or portfolio building without the market front-running your intent.
- Protect your strategy. Your research, your thesis, your timing - these are your intellectual property. Shielded execution keeps them yours.
- Eliminate the watchers. Copy-trading bots, whale trackers, and MEV searchers cannot extract value from trades they cannot see.
- Trade at scale. Large orders move markets when they are visible. Shielded execution lets you trade size without market impact signalling.
Compare shielded trading with naked trading to understand when each mode is appropriate. Ready to get started? See Start Trading.