X10 Mainnet Launches, Introduces Telegram Mini-App for Crypto Trading

X10, a hybrid perpetuals crypto exchange developed by former Revolut employees, has officially launched on the Mainnet. This launch marks a significant step towards providing unparalleled trading experiences while ensuring self-custody and transparency for a broad audience in the cryptocurrency market.

The X10 Mainnet outlines four ambitious goals aimed at enhancing trading capabilities and liquidity. One of the standout features is the development of an intuitive trading mini-app for Telegram, set to streamline trading within the messaging app. This mini-app will include all markets available on the X10 exchange and will handle orders and trades through X10’s order book. As Telegram aims to reach 1 billion users by the end of the year, this app could potentially provide streamlined access to millions of new crypto traders in 2024.

To improve liquidity, X10 is establishing transparent relationships with market makers. Unlike traditional methods that engage in side deals with selected market makers—creating information asymmetry—X10 offers a fair and open market maker program. Participants can compete for rewards, with their rankings displayed on a live leaderboard, fostering a more equitable trading environment.

Additionally, X10 is collaborating with global fintech players to offer exceptional on/off-ramping solutions, which are crucial for onboarding new users on-chain. This initiative aims to simplify the process of converting fiat currencies to cryptocurrencies and vice versa, broadening access and usability for the general public.

The company is also expanding its go-to-market strategy by developing an affiliate program inspired by successful CeFi models. The program will feature a multi-level referral system and a separate platform with advanced analytics for affiliates, encouraging broader market reach and engagement.

What sets X10 apart is its unique hybrid and settlement architecture, which combines the benefits of both centralized finance (CeFi) and decentralized finance (DeFi). It offers a user experience and execution speed comparable to CeFi, while maintaining transparency and safety through self-custody, on-chain trade settlement, and validations of trading logic. This architecture allows X10 to process tens of thousands of orders per second with latency under 10 milliseconds, outperforming existing hybrid exchanges.

During its testnet phase, which began in early May, X10 processed over 290,000 trades in three months, with users actively participating in bug reporting and feature requests. This promising performance led to its transition to the Mainnet.

Initially, access to the Mainnet will be invite-only. Users active during the testnet phase will gain access and can earn and share up to seven referral codes. Invite codes will also be available through project partners distributing them on X10’s Discord server.

Ruslan Fakhrutdinov, CEO and Founder of X10, stated, “The launch of our Mainnet represents a pivotal moment in our mission to deliver the ultimate on-chain trading experience. Our next focus is developing the Telegram trading app, which will cater not only to seasoned crypto traders but also to newcomers embarking on their trading journey.”

X10, founded by former senior members of Revolut, aims to bring the CeFi trading experience to DeFi by prioritizing traders' needs from day one.