Neko’s Spot feature offers a powerful yet streamlined interface for executing spot trades across the entire Hyperliquid landscape, seamlessly bridging the L1 Orderbook and the HyperEVM AMM ecosystem.

The core value proposition is unified access to liquidity: Neko acts as your single point of entry, intelligently navigating both environments to secure the best possible execution for your trades, all presented within one intuitive interface.

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The User Experience: Unified Trading, Simplified

Interacting with Neko’s Spot feature is designed to be intuitive, abstracting away the complexities of cross-venue liquidity aggregation:

  1. Select Assets: Choose the asset pair you wish to trade (e.g., HYPE/USDC).
  2. Choose Order Type: Select your desired execution method:
    • Simple Swap: For immediate execution at the best available price.
    • Limit Order: To specify your target execution price.
    • TWAP Order: To execute gradually over time.
  3. Specify Amount: Enter the quantity you wish to trade.
  4. Optional Privacy: Choose whether to enable Silhouette for privacy-preserving execution (if desired and available).
  5. Execute: Confirm your trade intent.

Neko handles the rest, automatically routing your order via Shogun across the L1 Orderbook and HyperEVM AMMs to find the optimal execution path, ensuring you benefit from unified liquidity without needing to manage multiple interfaces or manually compare prices.

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Core Mechanism: Shogun-Powered Routing

Neko directly integrates the Shogun SDK to power its core spot trading functionality. When you initiate a trade:

  1. Cross-Venue Analysis: The Neko platform queries the Shogun SDK to analyze liquidity depth and pricing across both the L1 Orderbook and relevant HyperEVM AMMs in real-time.
  2. Optimal Path Calculation: Shogun’s aggregated intent-solver infrastructure determine the most efficient execution path(s) to minimize slippage and maximize your return for the specific order size.
  3. Seamless Execution: Neko facilitates the execution along the optimal path identified by Shogun, handling the necessary interactions with either L1 or EVM liquidity sources behind the scenes.

Crucially, Neko provides this unified routing capability, allowing you to tap into both EVM and Orderbook liquidity simultaneously without needing to manage separate interfaces or manually compare venues.

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Key Trading Capabilities

Through this direct integration, the Neko interface supports:

  • Simple Swaps: Execute market orders instantly, benefiting from Shogun’s best-execution routing across unified liquidity. (Note: Basic swaps via Neko feature zero platform fees).
  • Limit Orders: Place orders to be filled only at your desired price or better.
  • TWAP Orders (Time-Weighted Average Price): Set up orders to be executed gradually over time, minimizing market impact, with the execution logic potentially managed via Shogun or dedicated Neko infrastructure.

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Privacy Layer: Silhouette API Integration [WIP]

For users prioritizing strategy protection, Neko integrates the Silhouette API:

  • Optional Obfuscation: Choose to have your trade intents obfuscated via Silhouette before they are routed for execution.
  • Enhanced Security: This helps safeguard your order flow and trading patterns from public visibility (e.g., MEV), protecting your intellectual property when interacting with both EVM and potentially L1 liquidity through Neko.

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Outcome

Neko’s Spot feature provides a best-in-class spot trading experience on Hyperliquid by directly offering:

  • Unified access to L1 Orderbook and HyperEVM liquidity through one interface.
  • Optimal execution pricing via integrated Shogun routing.
  • Support for diverse order types (Market, Limit, TWAP).
  • Optional trade privacy through Silhouette API integration.

This approach delivers efficiency, optimal pricing, and enhanced capabilities directly to the user.