X10 Exchange closed Mainnet goes Live
Today, X10, a hybrid perpetual cryptocurrency exchange, announced the launch of its closed Mainnet.
https://t.co/nIrbsKpSxF
— X10 | Closed Mainnet is LIVE (@X10_exchange) August 5, 2024
Mainnet access is currently invite-only. If you were an active trader on our Testnet, you're in! Otherwise, you can get an invite code from our partners on X or by asking the community in Discord.
Details on access below. pic.twitter.com/KjxOGNyFDY
It's a step toward the company's goal of giving the broadest crypto audience an unmatched trading experience while guaranteeing self-custody and transparency, according to a press release by the company.
The statement further announces X10 Mainnet's roadmap for the future, which includes four ambitious goals. The company is developing a user-friendly trading mini-app for Telegram that will enable smooth trading right within the popular messaging app. Every market that is offered by the X10 exchange will be included in the mini-app.
X10's order book will handle all trades and orders within the app. This app will give all those millions of users who join the market in 2024 simplified access to cryptocurrency trading, as the Telegram ecosystem aims to reach 1 billion users by year's end, the post added.
Secondly, X10 strengthens ties with market makers to improve liquidity. X10 provides an open, transparent, and equitable market maker program for all traders, as opposed to entering into side agreements with specific market makers that exacerbate information asymmetry and negatively impact traders. Market maker rankings are shown on a real-time leaderboard, allowing competitors to fight for a piece of the rewards pool.
Furthermore, the exchange will be working with major international fintech players to offer unmatched on/off ramping solutions, which are very important for onboarding new users on chain.
Lastly, x10 in the statement said it is expanding its marketing strategy by developing an affiliate network modeled after successful CeFi models. The program will include an affiliate platform with advanced analytics and a multi-level referral program.
Ruslan Fakhrutdinov, CEO and founder of X10, stated, "The mainnet launch is a critical step in our goal to provide the best on-chain trading experience possible. Among other things, one of our next priorities is creating the Telegram trading app, which will serve both beginner and experienced cryptocurrency traders.”
In addition to its announced product roadmap, X10 provides speed and user experience similar to CeFi, along with safety and transparency via on-chain trade settlement, self-custody, and trading logic validations. Thus, X10 outperforms all current hybrid exchanges by processing tens of thousands of orders per second with latency under 10 ms while remaining fully trustless.
X10's testnet went live in early May with over 290,000 trades in just three months, enabling the company to battle-test its unique architecture and make necessary improvements based on user feedback. Users actively participated in reporting bugs and feature requests during this phase. X10's hybrid architecture was moved to the mainnet due to its testnet phase's promising performance.
The mainnet will initially only be accessible by invitation. All users who participated in the testnet phase of X10's closed mainnet will be able to obtain and share up to seven referral codes. Furthermore, invite codes can be acquired by project partners via X or on the Discord server of X10.
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