Extended, the decentralized perpetuals exchange built by former Revolut executives, has gone live on the Starknet mainnet, offering a new option for on-chain derivatives traders looking for high leverage and a wider mix of markets.
The platform, previously known as X10, is led by Ruslan Fakhrutdinov, Revolut’s former head of crypto operations. Extended raised $6.5 million last year from a mix of venture firms and crypto backers, including Tioga Capital, Semantic Ventures, Prelude, StarkWare, Cyber Fund, several Revolut executives, and Lido co-founder Konstantin Lomashuk.
According to the blog post, traders on Starknet can now access more than 50 markets through Extended, covering both crypto pairs and traditional finance assets such as the euro-dollar, gold, the S&P 500, and oil. The platform offers up to 100x leverage.
Extended had been running on StarkWare’s StarkEx system until now. On that setup, the team says the exchange averaged daily volumes of $319 million, with open interest over $55 million, a repeat depositor rate above 50%, and roughly 70% APR over the past month.
The move to Starknet is happening in three phases that started on August 12. For the first two weeks, both StarkEx and Starknet versions will operate, though new vault deposits on StarkEx have been closed. After that, the StarkEx version will switch to reduce-only mode, letting traders close but not open positions, before shutting down entirely.
Eli Ben-Sasson, StarkWare’s co-founder and CEO, called the switch a sign of how far DeFi has come and pointed to Starknet’s scalability and composability as reasons world-class teams are building there.
To encourage traders to migrate, Extended has shifted its rewards program fully to Starknet. For Epochs 16 and 17, the weekly points pool has been doubled, with up to 2.4 million points available each week for Starknet users.
The migration process is straightforward but comes with a few steps. Traders need to close all open orders and positions, preferably with reduce-only orders, which won’t incur fees, consolidate their funds into a single sub-account, and then use the migration page to complete the switch.
Funds in the StarkEx vault will move automatically. Once done, the interface changes to the Starknet version with balances, points, and trade history intact. The new platform will not be accessible to U.S. traders due to regulatory restrictions.
Also Read: Coinbase to Launch DEX Trading As DeFi Adoption Accelerates
