Silhouette, Hyperliquid's block trading layer, debuted its request-for-quote system on mainnet on Tuesday, initially supporting tokenized equities from Payward's xStocks framework. The system allows traders to request quotes on any supported xStock and receive competing bids from onboarded market makers, with the winning trade settling onchain. This enables xStocks to trade without dedicated order books, and tokens with sufficient activity can later move to their own HyperCore markets. Payward's xStocks, launched in June 2025, has processed over $40 billion in total volume and accounts for about $620.1 million of the $2.53 billion tokenized equity market.