DeFi

X10 Launches Hybrid Crypto Exchange Backed by $6.5 Million in Funding

Published

9 months ago

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X10a hybrid crypto exchange offering the centralized exchange experience that DeFi lacks, has launched from stealth with $6.5 million in funding.

According to the official announcement, the company’s investors include Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware and Cyber ​​Fund, as well as angel investors such as executives from Revolut and the founder of Lido.

X10 offers users the execution speed and features of a centralized exchange, but with self-custody and full on-chain transaction settlement. With its optimized hybrid model and improved settlement architecture, X10 will enable users to perform perpetual transactions in DeFi with superlative latency and throughput, improving liquidity and UX.

At the same time, X10 inherits the settlement, validation and self-custody ideas of on-chain trading from DeFi exchanges, which seek to ensure both security of customer funds and transparency. Additionally, traders are invited to participate in the team’s product testnet.

Performance and security

X10 operates as a hybrid central limit order book (CLOB) exchange. Order processing, matching, position risk assessment, and transaction sequencing are handled off-chain, aiming to ensure excellent performance. Stellar latency and throughput benefit market makers by allowing them to update the order book faster. This leads to up-to-date prices, narrower spreads, greater liquidity and a significant improvement in UX.

Trade settlement occurs on-chain via the StarkEx Layer 2 engine, ensuring self-custody and transparency, which is also ensured by on-chain settlement and validations, as well as independent Oracle pricing providers. The former protect against fraudulent or incorrect transactions that contradict on-chain business logic; in fact, X10 settles each transaction on the blockchain, using on-chain validations integrated into smart contracts. The latter, by sourcing market prices from independent oracle providers, protects against possible price manipulation, ensuring a fair and accurate reflection of the value of assets within its ecosystem.

User experience

  • Enhanced Trading Experience: X10 offers multiple trading sub-accounts, a wide range of advanced order types, partial liquidation logic, an advanced API and a professional-grade SDK.

  • Premier UX: X10 provides, among other features, a customizable web interface and advanced market and portfolio analytics.

  • Seamless integration for retail users: Simplified and secure wallet creation with social accounts, premium entry and exit options provided by global partners, and convenience of trading on the go with its upcoming mobile app and Telegram bot.

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