Curated News
By: NewsRamp Editorial Staff
April 30, 2024
Hybrid Crypto Exchange X10 Launches Out-of-Stealth with $6.5M in Funding
TLDR
- X10 provides the speed and features of a centralized exchange, but with full self-custody and on-chain trade settlement, giving traders a complete and efficient solution.
- X10 operates as a hybrid Central Limit Order Book (CLOB) exchange, handling order processing, matching, position risk assessment, and transaction sequencing off-chain, while trade settlement occurs on-chain through the StarkEx Layer 2 engine.
- X10 aims to reinforce trust and efficiency in crypto trading through on-chain trade settlement, validation, and self-custody, providing a comprehensive product portfolio and enhanced speed for traders.
- X10 offers perpetuals trading in DeFi with superlative latency and throughput, enhancing liquidity and user experience, with the aim to bring efficient and profitable trading practices into the transparent web3 space.
Impact - Why it Matters
The launch of X10, a hybrid crypto exchange, represents a significant development in the DeFi space. By providing the speed and features of a centralized exchange, but with full self-custody and on-chain trade settlement, X10 aims to reinforce trust and efficiency in crypto trading. This development has the potential to enhance liquidity and user experience, while addressing the security and transparency issues associated with traditional centralized exchanges.
Summary
X10, a hybrid crypto exchange, launches out-of-stealth with $6.5M in funding. The company aims to provide the centralized exchange experience DeFi lacks, with notable investors such as Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware, and Cyber fund. X10 offers users the speed and features of a centralized exchange, but with full self-custody and settlement of trades on-chain, improving liquidity and user experience. The company's CEO, Ruslan Fakhrutdinov, emphasizes the importance of reinforcing trust and efficiency in crypto trading through on-chain trade settlement and self-custody.
Source Statement
This curated news summary relied on this press release disributed by BlockchainWire. Read the source press release here, Hybrid Crypto Exchange X10 Launches Out-of-Stealth with $6.5M in Funding
