Introduction
What is HyperVeil
A privacy layer for perpetual futures on Hyperliquid's markets.
HyperVeil is a privacy layer for perpetual futures. It uses Hyperliquid's markets, liquidity, prices and funding as its execution foundation, and adds a confidential account layer built so a trader's wallet can't be linked to their positions or history.
Design principle
Markets stay public. Traders stay veiled. Trade activity and market state stay public. HyperVeil is built so none of it can be traced back to the wallet that placed it.
| Public | You, in your account | Built to stay unlinkable |
|---|---|---|
| Trade prints: price, size, time | Size and entry | Which wallet holds which position |
| Aggregate open interest | Leverage | Your trade history by address |
| Volume | Liquidation price | Per-user funding transfers |
| Funding rates | PnL and balance | |
| The pool's aggregate position on Hyperliquid |
How the pieces fit
- Shielded pool: collateral enters as commitments, built so there is no wallet-to-address link.
- Unlinkable ledger: each user's position, margin and PnL, readable by that user and designed not to be attributable to their wallet.
- Execution on Hyperliquid: opposing flow nets internally; the residual fills on Hyperliquid at Hyperliquid prices.
- Verification: zero-knowledge proofs and proof of solvency are designed to show the book adds up without showing whose it is.
Continue with Why private perps, or jump to the Architecture overview.