Silhouette is a privacy-focused decentralized trading protocol integrated with the Hyperliquid ecosystem. Using Trusted Execution Environments (TEEs), it enables confidential execution of various order types like swaps, RFQs, and auctions, protecting users from frontrunning and MEV. Silhouette inherits Hyperliquid’s native performance and liquidity, while introducing an encrypted execution layer to ensure trader anonymity and execution integrity.