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

X10, a hybrid perpetuals crypto exchange developed by former Revolut employees, has announced the launch of its mainnet. This marks a significant step towards the company's goal of providing an exceptional trading experience while ensuring self-custody and transparency for a wide crypto audience.

The mainnet launch outlines four key objectives for X10's future development. Primarily, the exchange is focusing on creating an intuitive trading mini-app for Telegram. This app will offer seamless trading directly within the messaging platform, including all markets available on the X10 exchange. With Telegram's user base projected to reach 1 billion by year-end, this integration could potentially introduce millions of new users to crypto trading in 2024.

To enhance liquidity, X10 is implementing a transparent and fair market maker program. Unlike traditional approaches that may create information asymmetry, X10's program is open to all participants. Traders can compete for rewards, with real-time rankings displayed on a leaderboard, fostering a more equitable trading environment.

The exchange is also partnering with global fintech players to improve on/off-ramping solutions, a crucial factor in onboarding new users to blockchain technology. Additionally, X10 is developing an affiliate program inspired by successful centralized finance (CeFi) models, featuring a multi-level referral system and advanced analytics for affiliates.

X10's unique hybrid and settlement architecture sets it apart in the crypto exchange landscape. It combines the user experience and execution speed of CeFi platforms with the transparency and security of decentralized finance (DeFi). This innovative approach allows X10 to process tens of thousands of orders per second with latency under 10 milliseconds while remaining fully trustless.

The exchange's architecture underwent extensive testing during a three-month testnet phase, which saw over 290,000 trades executed. User feedback from this period has been incorporated into the mainnet release, refining the product based on real-world usage.

Initially, access to the X10 mainnet will be invite-only. Users who were active during the testnet phase will be granted access and can earn up to seven referral codes to share. Additional invite codes will be distributed through project partners on X (formerly Twitter) and X10's Discord server.

Ruslan Fakhrutdinov, CEO and Founder of X10, emphasized the significance of the mainnet launch, stating, "The launch of our mainnet represents a pivotal moment in our mission to deliver the ultimate on-chain trading experience." He also highlighted the company's focus on developing the Telegram trading app, which aims to cater to both experienced crypto traders and newcomers.

X10's founding team includes Revolut's former Head of Crypto Operations and other senior members, including the former Tech Lead of Revolut X. This experienced team brings valuable insights from the traditional fintech sector to the decentralized finance space, potentially bridging the gap between CeFi and DeFi trading experiences.

As the crypto industry continues to evolve, X10's mainnet launch and ambitious roadmap could significantly impact the accessibility and user experience of crypto trading. By combining the strengths of centralized and decentralized systems, X10 aims to address key challenges in the crypto exchange market, potentially setting new standards for transparency, security, and user-friendliness in digital asset trading.