Silhouette

How to Join the Silhouette Waitlist

1. Prepare Your Hyperliquid Trading History
   • Ensure your wallet has at least $5 million in cumulative trading volume on Hyperliquid or alternative front-ends like Based or Lit
   • Connect your wallet to Hyperliquid to verify your trading history
   • Note: Trading volume is cumulative, so historical activity counts toward this threshold
     • If you haven’t reached the $5 million threshold, get some USDC from Binance and withdraw to your Hyperliquid address via Arbitrum
     • Trade regularly to reach this threshold
2. Visit the Silhouette Waitlist
   • Go to the Silhouette waitlist page
   • Connect your wallet to verify your trading volume
   • Complete the sign-up form with required information
   • Submit your application
3. Share Your Referral Link
   • Share your own referral code once accepted to move up the queue
4. Wait for Beta Access
   • Monitor your email for beta access notifications
   • Follow Silhouette’s official social media channels for updates
   • Check the website periodically for changes to the waitlist process
5. Test the Closed Beta Product
   • Once you have access, go to Silhouette’s app, connect your wallet and enter referral code EBGIX
   • Go to ‘Faucet’ and claim mock USDC and ETH on Arbitrum Sepolia
   • Test the platform and provide useful, genuine feedback using the button on the bottom right-hand corner
6. Deposit Assets to HyperBeat’s Ultra Vaults
   • Buy HYPE or BTC from spot markets on Hyperliquid
   • Transfer to HyperEVM
   • Go to HyperBeat
   • Deposit into the Ultra HYPE or Ultra BTC vault to earn Silhouette points

Understanding Key Concepts

Shielded Trading

Shielded trading refers to the ability to execute trades without revealing order details, position sizes, or trading strategies to the public blockchain. Unlike traditional DEXs where every transaction is visible, shielded trading keeps this information confidential while still settling on-chain. This prevents front-running, reduces information asymmetry, and allows traders to implement sophisticated strategies without market impact.

Trusted Execution Environments (TEEs)

TEEs are secure areas within a processor that protect code and data from external access or modification. Silhouette uses TEEs to process trades in a confidential manner, ensuring that even the platform operators cannot see individual trade details. This technology provides hardware-level security guarantees while maintaining the decentralized nature of the exchange.

MEV Protection

Miner Extractable Value (MEV) refers to profit that can be extracted by reordering, inserting, or censoring transactions within blocks. In traditional DeFi, traders are vulnerable to front-running and sandwich attacks where others observe pending transactions and exploit them. Silhouette’s privacy features prevent this by hiding transaction details until execution is complete.

Dark Pools

In traditional finance, dark pools are private exchanges where large institutional orders can be executed without revealing information to the broader market. Silhouette brings this concept to DeFi, allowing traders to execute significant positions without causing price impact or alerting competitors to their strategies.

Frequently Asked Questions

How much trading volume do I need to join the waitlist?

You need at least $5 million in cumulative trading volume on Hyperliquid or compatible front-ends like Based or Lit. This includes all historical trading activity, not just recent volume.

Does Silhouette have a confirmed token launch?

No, Silhouette has not announced plans for a token launch. Speculation about potential airdrops is based on common practices in the DeFi space rather than official announcements.

Can I use volume from other blockchains to qualify?

No, only trading volume on Hyperliquid and its associated front-ends counts toward the $5 million threshold. Volume from other chains or exchanges does not qualify.

How does Silhouette protect my trading privacy?

Silhouette uses Trusted Execution Environments (TEEs) to process trades in a confidential computing environment. This prevents anyone, including platform operators, from seeing your specific trade details before execution.

What types of trading does Silhouette support?

Silhouette supports both perpetual futures and spot trading on Hyperliquid. The platform is developing APIs and SDKs for programmatic access as well as a web application for manual trading.

Is Silhouette audited?

As a project in closed beta, audit information has not been publicly disclosed. Users should monitor official channels for security audit announcements as the platform moves toward public launch.

Conclusion

Silhouette represents an important development in DeFi privacy infrastructure, bringing institutional-grade confidential trading to Hyperliquid. The closed beta waitlist offers early access to traders who meet the substantial volume requirements, potentially positioning them for future opportunities as the platform grows.

While no airdrop has been confirmed, participating in the beta allows traders to experience privacy-focused trading features that address real problems in current DeFi markets. The combination of MEV protection, confidential order execution, and on-chain settlement creates new possibilities for sophisticated trading strategies that were previously only viable in traditional finance.

For traders who qualify or are working toward the volume threshold, joining the waitlist provides early exposure to privacy technology that may become increasingly important as DeFi matures. However, participation should be driven by genuine interest in the platform’s features rather than purely speculative airdrop farming, as there are no guarantees of token distributions.