X10 Mainnet Launches, Introduces Telegram Trading App

X10, a hybrid perpetuals crypto exchange developed by former Revolut employees, has officially launched its mainnet. This development marks a significant step towards offering a more transparent and user-friendly trading experience in the crypto market while emphasizing self-custody and transparency.

The launch of X10 Mainnet outlines four key goals aimed at enhancing the trading experience and improving liquidity. One standout feature is the development of an intuitive trading mini-app for Telegram. This mini-app will enable seamless trading directly within the messaging app and will include all the markets available on the X10 exchange. Given that Telegram's user base is projected to reach 1 billion by the end of the year, this integration could attract a substantial number of new crypto traders in 2024.

In addition to the Telegram mini-app, X10 is revolutionizing its approach to liquidity by fostering relationships with market makers. Unlike other platforms that engage in exclusive deals with selected market makers, X10 offers a transparent and fair market maker program open to all. Participants can compete for rewards, with their rankings displayed on a live leaderboard. This approach aims to eliminate information asymmetry and improve trading conditions for all users.

X10 is also collaborating with global fintech players to provide enhanced on/off-ramping solutions, which are vital for onboarding new users on-chain. Furthermore, the platform is expanding its market strategy through an affiliate program inspired by successful centralized finance (CeFi) models. This program will feature a multi-level referral system and a separate platform with advanced analytics for affiliates.

The platform's hybrid and settlement architecture sets it apart by combining the best features of both CeFi and decentralized finance (DeFi). X10 offers a CeFi-like user experience and execution speed while ensuring transparency and safety through self-custody, on-chain trade settlement, and validation 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.

X10's testnet, which went live in early May, saw over 290,000 trades within three months, providing valuable user feedback for refining the product. The promising performance during the testnet phase paved the way for its transition to the mainnet.

Initially, access to the mainnet will be invite-only. Users active during the testnet phase will be invited to the closed mainnet and can earn and share up to seven referral codes. Invite codes will also be distributed through project partners and X10's Discord server.

Ruslan Fakhrutdinov, CEO and Founder of X10, emphasized the significance of the mainnet launch, stating, "Our next focus, among other things, is developing the Telegram trading app, which will cater not only to seasoned crypto traders but also to newcomers embarking on their trading journey."