How to Swap
SillySwap lets you swap between supported tokens privately. Your trades execute through Silhouette's shielded pool, hiding your wallet address from on-chain observers.
Making a Swap
- Select tokens: Choose what you're selling (top) and buying (bottom)
- Enter amount: Type the amount you want to swap
- Review rate: Check the exchange rate, route, and estimated output
- Confirm: Click Swap (or slide to confirm on mobile) and approve the transaction
Swaps execute as limit orders on Hyperliquid with a small slippage buffer. See Slippage for details.
Supported Tokens
SillySwap supports the following tokens:
| Token | Description | Market |
|---|---|---|
| USDC | USD Coin | Base pair |
| HYPE | Hyperliquid | HYPE/USDC, HYPE/USDH |
| USDH | Hyperliquid Dollar | USDH/USDC |
| BTC | Bitcoin | UBTC/USDC, UBTC/USDH |
| ETH | Ethereum | UETH/USDC, UETH/USDH |
| SOL | Solana | USOL/USDC |
| ZEC | Zcash | UZEC/USDC |
| USDT | Tether | USDT0/USDC |
| FART | Fartcoin | UFART/USDC |
| PUMP | Pump Fun | UPUMP/USDC |
| USDe | Ethena USDe | USDE/USDC |
| PURR | Purr | PURR/USDC |
| XAUT | Tether Gold | XAUT0/USDC |
| KNTQ | Kinetiq | KNTQ/USDH |
| KHYPE | Kinetiq Staked HYPE | KHYPE/USDH |
You can swap between any combination of supported tokens. SillySwap automatically finds the best route for your trade.
Multi-Hop Routing
Some token pairs don't have a direct market on Hyperliquid. When this happens, SillySwap automatically routes your swap through an intermediary token in two legs.
For example, swapping BTC to ETH might route as BTC -> USDC -> ETH.
What you need to know:
- Routing is automatic - you don't need to do anything
- The swap review screen shows the route your swap will take
- Multi-hop swaps have compound slippage and fees (see Slippage and Fees & Limits)
- Both legs must succeed for the swap to complete
Swap Flow
Your Wallet -> Silhouette Deposit -> Shielded Balance -> Swap (1 or 2 hops) -> Shielded Balance
- Funds enter the Silhouette shielded pool
- Swaps happen within the pool (directly or via an intermediary)
- Your wallet address is never linked to the trade
Transaction Speed
Direct swaps typically complete within milliseconds. Multi-hop swaps take slightly longer since each leg executes sequentially, but still complete within seconds.