Silhouette Launches RFQ System On Hyperliquid With Support For xStocks Equities

TL;DR

• Silhouette launched its RFQ system on Hyperliquid mainnet with support for xStocks, letting traders request competing market-maker quotes and settle winning trades onchain.
• xStocks has processed more than $40 billion in volume across over 200,000 holders, with nearly $20 billion already settled directly onchain.
• The RFQ model lets tokenized equities trade without dedicated order books, while successful assets can later graduate to HyperCore markets if they attract sufficient trading activity.

Silhouette has launched its request-for-quote trading system on Hyperliquid mainnet, beginning with tokenized equities from xStocks, Payward’s tokenized stock framework. The system lets traders request prices for supported xStocks, receive competing quotes from approved market makers and settle the winning trade onchain at any hour and at size. The key change is that tokenized equities can now trade on Hyperliquid without requiring dedicated order books from day one. Silhouette says assets that generate sufficient activity can later graduate into their own HyperCore markets, creating a path from quoted liquidity to deeper exchange-style trading.

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