Silhouette
Encrypted, private decentralized trading on the Hyperliquid exchange.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $3.0m | Seed | |
| Total Funding | 000k | ||
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Silhouette is a decentralized trading platform founded in 2024 that provides privacy-focused trading within the Hyperliquid ecosystem. The company’s core product, The Shield Exchange, is designed to shield trades from public visibility, addressing issues common in decentralized finance (DeFi) such as frontrunning and Maximal Extractable Value (MEV).
Silhouette utilizes Trusted Execution Environments (TEEs) to facilitate confidential order flow matching and settlement. This technology ensures that user strategies remain encrypted and protected. By integrating directly with Hyperliquid, the platform leverages its existing liquidity and performance while adding a critical layer of privacy. The business model centers on offering these enhanced privacy features to traders operating on-chain, allowing them to execute trades without revealing their strategies to the public market.
In June 2025, Silhouette announced it had secured $3 million in a pre-seed funding round. The round was led by RockawayX and included participation from Amber Group, HiveMind, No Limit Holdings, and Protagonist, as well as angel investors from HyperActive. This funding is aimed at accelerating the platform's development, expanding its features, and furthering its integration capabilities within the DeFi space.
Keywords: decentralized trading, DeFi privacy, confidential transactions, crypto trading, Hyperliquid, frontrunning protection, MEV protection, trusted execution environments, TEE, encrypted order flow, on-chain finance, shielded exchange, blockchain privacy, RockawayX, Amber Group