Spelunky 2

This is one of the most difficult challenge trophies in the game, rivaled only by Low Scorer . It requires you to start the game from the first floor and make it to Tiamat's throne and beat her, in under 10 minutes. If you were to play normally, this would usually take upwards of 40 minutes, if not more so doing it in under 10 minutes is quite a challenge. It will require you to head straight to the exit on every single level, beat Olmec and Tiamat as quickly as possible and, for the most part, ignore the money-making opportunities and secrets scattered throughout each level. Below is a guide for each individual stage of the game, followed by some general tips to earn this very difficult trophy. 
 
The Dwelling: In many ways, the first area of the game is the most important and decides your chances for the rest of your speedrun. Getting unlucky with a hard to navigate floor or taking too much damage early on means you should probably restart. The rest of the game is already hard enough and going in with a sub-optimal start, means you will likely not make it. There are however exceptions, like finding a useful item in a crate or finding a large amount of money early. Don't be afraid to go a little out of your way if you get a change to get your pet, a lot of money or most importantly, a crate. Because of the importance of shops in the early game, further below you can find a dedicated section discussing your tactics for getting the most out of them.
 
Volcana/The Jungle: While both paths are viable, in my experience, the Volcana path is the most speedrun-friendly of the two: it has a lot of open sections, making it possible to run through the level without having to stop and puzzle out how to get through obstacles too much. Due to your time constraint, going to the black market won't be an option, unless you are really lucky and find it by accident. Since you probably won't pick up the Udjat Eye in the Dwelling, entering either the Black Market or Vlad's Castle won't be an option 9 out of 10 times so this won’t really be a factor. Furthermore, don't be afraid to spend some time to pick up a mount if you find one, since they allow you to progress through the game much easier with their double jumps. 
 
Olmec's Lair: Since you're in a rush, just beat the first phase of Olmec as quickly as possible and run for the Tide Pool entrance. Unlike the previous area, going to the Tide Pool instead of the Temple is almost non-negoitable; not only does it take much more time to get through the second phase of the Olmec fight, the Temple is also much harder and more cramped, making it a very bad choice for a speedrun. 
 
Tide Pool: Not much to say here, just rush through the tide pool as quickly as possible. Just make sure you don't take too much damage from Jiang shi's hopping around and you should be good to go. 
 
Ice caves: The Ice Caves can either be the easiest area in the game or an absolute nightmare, depending solely on if you have the means to skip the Wet Fur section. Having the climbing gloves, cape, jetpack, hoverpack or a parachute allows you to simply jump down and find the exit, making having at least one of these items a must for this section.
 
Neo Babylon: This will by far be the most difficult section to do quickly. It is debatably the most difficult area in the game under normal circumstances and heavily favours slow play to plan around the spark traps and elevators that can crush you if you're not careful. This is where your bombs come in. If you're even the littlest bit uncertain about a particular section of the area, just avoid it all together and bomb your way through. Just make sure you at least have some bombs left for the next section:
 
Tiamat's Throne: Beating Tiamat will be your final challenge for this trophy. Depending on your equipment, this can either take a few seconds or take up to a minute or longer, possibly ruining your run. For this reason, I'd advice making sure you either carry a shotgun or freeze ray through the run or to take a shotgun from one of the bodyguards guarding Tusk's palace on 6-3. For a more in-depth analysis of the Tiamat fight, see Journeyman .
 
General tips:

Valuables: 10 minutes is quite a short time to complete the entire game but if you keep a good pace and don't run into too much difficult floors, 10 minutes should still be enough to allow you some leeway. Given your dependency on items, don't be afraid to take a couple of seconds to grab a crate if you see one: a couple of bombs are often much more valuable to your run than the couple of seconds it would save to ignore them. The same goes for pets, although they are a slightly smaller priority, grabbing some extra hp can make your life much easier, especially in the later levels. Money is the least important of these three categories but still don't be afraid to take a second to grab some gold bars if the floor layout permits it, especially in the Dwelling, where having enough spending power can make or break a run.
 
Shopkeepers: First and foremost, you're going to need items, preferably mobility items, a weapon and a lot of bombs. The problem with running through the game at a high pace, is that most of the money on the map is not reasonably obtainable without wasting time. This means that your buying power is very limited and leaves you with two options: prioritizing the most important items with the money you do have or stealing. Both options are viable and both have their pros and cons. A shop always spawns on the second floor of the first area, making this a good time to decide which strategy you're going for. Are the items decent and affordable? Buy whatever you can afford. Are the items really good but too expensive? Try to steal them, without killing the shopkeeper. Are the items trash/unusable? You might consider restarting. Unless you are a literal god at avoiding shopkeepers, it is not recommended to kill any, since they will haunt you for the rest of the run, creating a huge risk and wasting a lot of your time in trying to avoid them. In The Full Spelunky , you can find a dedicated section on how to rob shopkeepers without killing them. Keep in mind that it is not at all required to anger any shopkeepers to earn this trophy but will probably requires you to either get lucky with a crate or earn enough money to buy what you need without wasting too much time. 
 
Rushing: The time limit of 10 minutes requires you to move fast and make quick decisions. It does not however require you to rush through the game without looking. If you come across a difficult situation, don't be afraid to stop for a second to think of how to get through it, instead of trying to force your way through. Spelunky is the type of game where one moment of carelessness can and will ruin your entire run, which is of course not preferable to losing a couple of seconds to clear a threat.
 
Look down!: As an extension of the previous section, be sure to look down before jumping! When rushing through a floor, it can feel very enticing to just jump down without looking at certain places, especially in the Dwelling. Do NOT do this! Taking a literal second to look down to see if it is actually safe is not likely to lose you your run. Taking fall damage and getting tossed around by a caveman or falling into spikes is.
 
Useful items
Mobility: The best item for a speedrun is without a doubt the jetpack. It allows you to move through the game quickly and avoid many obstacles. That said, any form of mobility, like some spring shoes, a cape or a hoverpack, is very much appreciated, if not mandatory.
 
Compass: The compass ensures that you know exactly where the exit is, shaving off seconds of every level, which you would otherwise have spent trying to find where to go.
 
Shotgun: If you decide to rob the shopkeeper, don't forget to take his shotgun, which not only allows you to quickly dispatch enemies which would otherwise cost you your precious time but is also invaluable in taking down Tiamat.

Mattock: Just like bombs, the mattock can be used to swiftly skip sections of the floor, allowing you to reach the exit faster and avoid threats. 

Teleporter/Telepack: Although it is very easy to accidently kill yourself by using the teleporter, it does allow you to go through each floor at lightning speed. If you find one, you might consider using it for the first part of the speedrun to get a headstart and drop it later to minimize the risk of killing yourself as you get closer to finishing the game.

Camera: Unlike the Shotgun, the camera allows you to dispatch enemies without recoil, allowing you to go through floors much faster and safer. The main drawback of using the camera however is that it can’t be used to kill Tiamat. If you manage to make it to 6-3 with a camera, try to stun one of Madame Tusk’s bodyguards and take their shotgun before entering Tiamat’s Throne.
 
Bombs: In Spelunky, bombs are debatably your most important tool, doubly so when trying to go through the game quickly. Having many bombs allow you to skip difficult or long sections and take down enemies that block your path. Making sure you have enough bombs should therefore be at the top of your priority list, especially when navigating Neo Babylon.