According to the official announcement, the company’s investors include Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware, and Cyber fund, together with angels such as executives from Revolut and the founder of Lido.
X10 provides users with the execution speed and features of a centralised exchange, but with full self-custody and settlement of trades on-chain. With its Optimized Hybrid Model and Enhanced Settlement Architecture, X10 will enable users to perform perpetuals trading in DeFi with superlative latency and throughput, which will improve liquidity and UX.
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 great performance. Stellar latency and throughput work to benefit market makers by allowing them to update the order book faster. This leads to up-to-date prices, narrower spreads, deeper liquidity, as well as significantly enhancing UX.
Trade settlement occurs on-chain through the StarkEx Layer 2 engine, guaranteeing self-custody and transparency, which are also ensured through On-Chain Settlement and Validations, as well as Independent Oracle Price Providers. The former safeguards against fraudulent or incorrect transactions that contradict the on-chain trading logic; this is because X10 settles each trade on the blockchain, utilising on-chain validations embedded in smart contracts. The latter, by sourcing market prices from independent oracle providers, protects against potential price manipulation, ensuring an equitable and accurate reflection of asset values within its ecosystem.
User experience
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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.
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Premier UX: X10 provides a customisable web interface and advanced market and portfolio analytics among other features
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Seamless onboarding for retail users: streamlined and secure wallet creation with social accounts, premier on- and off-ramping options provided through global partners, and trading convenience on the go with its upcoming mobile app and Telegram bot.
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