Question 1

What is Silhouette Exchange?

Accepted Answer

Silhouette Exchange is a shielded trading platform on Hyperliquid that protects traders from front-running and MEV while accessing deep on-chain liquidity through HyperCore.

Question 2

How does shielded orderflow work?

Accepted Answer

Orders are encrypted before being routed to Hyperliquid's on-chain order book. Other participants cannot see the order details until execution is complete, preventing front-running and sandwich attacks.

Question 3

Is Silhouette Exchange custodial?

Accepted Answer

No. Silhouette is fully non-custodial. Traders retain custody of their assets and sign all transactions independently through their own wallets.

Question 4

What is MEV and why does it matter?

Accepted Answer

MEV (Maximal Extractable Value) refers to profit extracted by bots that front-run, back-run, or sandwich other traders' transactions. Silhouette eliminates this by hiding trade intentions until execution.

Question 5

Is Silhouette Exchange free to use?

Accepted Answer

Yes. There is no subscription fee to use Silhouette. Standard Hyperliquid trading fees apply.

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