Extended Launches Universal Trading Access
Extended, a hybrid perpetual crypto exchange founded by former employees of Revolut, has recently made an exciting transition by opening its platform for all users. This shift marks the end of the invite-only phase and comes after a remarkable achievement of $300 million in trading volume during its closed launch along with over 150 active users. With this expansion, Extended has also introduced a points rewards program, although further details are still awaited.
Introduction of Unified Margin System
The platform is set to implement a cutting-edge unified portfolio margin system. This sophisticated feature aims to combine a trader's positions from different asset classes—like spot, derivatives, and lending—within a single margin account. The approach eliminates the need for separate collateral requirements for each market, streamlining the margin calculations based on overall risk exposure and significantly enhancing capital efficiency. This means traders could deposit various cryptocurrencies as collateral instead of being limited to stablecoins, thereby unlocking greater trading opportunities.
About Extended's Performance
One of the standout features of Extended's hybrid architecture is its built-in efficiency. During its closed mainnet phase, it demonstrated impressive performance stats with an end-to-end latency below 20 milliseconds while processing tens of thousands of transactions per second. This positions Extended as a leading contender in the DeFi space for performance and reliability.
Collaboration with StarkWare
Extended has partnered with StarkWare, a leader in innovative on-chain solutions, to support the development of its unified portfolio margin system. As part of this collaboration, StarkWare is committing engineering resources and providing special grants to ensure the success of the project. Eli Ben-Sasson, CEO of StarkWare, expressed optimism about Extended's potential, suggesting it might evolve into a comprehensive self-custody exchange that could rival top centralized exchanges in terms of functionality and experience.
Plans for Regulatory Compliance
In addition to launching the unified margin system, Extended is actively pursuing the necessary licenses to introduce comprehensive fiat options, thereby enhancing its appeal to traditional finance users. The company recognizes that advancements in crypto legislation are inevitable, which would require all exchanges—both centralized and decentralized—to ensure compliance. Therefore, Extended is taking proactive steps to stay ahead of the regulatory curve by acquiring licenses early on.
Vision of Extended
The founder of Extended, Ruslan Fakhrutdinov, highlighted the company’s commitment to adapting to evolving regulations, indicating that they anticipate a future where compliance is essential for exchange operations. By being forward-thinking and securing relevant licenses now, Extended aims not only to enhance user experience but also contribute to the overall growth and prosperity of the crypto industry.
About Extended
Originally known as X10 Exchange, Extended was established by a team of former Revolut executives, including the company’s Head of Crypto Operations and senior members from the tech teams behind the recently launched Revolut X project. Their mission is to deliver a trading experience that surpasses current expectations—aspiring to deliver a tenfold improvement in terms of user experience and product offerings within the DeFi ecosystem.
Frequently Asked Questions
What is the significance of the unified margin system?
The unified margin system allows traders to manage their positions across different asset classes without needing separate collaterals, enhancing efficiency and opportunities.
How does Extended ensure trading performance?
Extended leverages advanced technology that maintains low latency and high transaction throughput, making it one of the most performant exchanges in the DeFi sector.
What are the future plans for Extended regarding compliance?
Extended aims to secure licenses that will enable it to offer additional fiat options, preparing for more stringent regulations in the future to foster industry growth.
Who are the founders of Extended?
Extended was founded by former Revolut employees, including the former Head of Crypto Operations, bringing an experienced team to the DeFi space.
What is the vision behind Extended’s platform?
Extended envisions becoming a leading self-custody exchange offering a vast array of products while ensuring regulatory compliance and adapting to market needs.
