Vision and Roadmap

Introduction to Extended

Extended is a self-custody exchange with on-chain trade settlement and complete transparency, dedicated to delivering the ultimate trading experience that rivals CEXs—a commitment deeply embedded in the company's name.

As of now, Extended offers perpetual contracts on both crypto and TradFi assets, with USDC as collateral and leverage of up to 100x. By mid-2025, Extended aims to evolve into a full-fledged exchange featuring unified margin logic and matching the product offerings of best-in-class centralized exchanges. In the longer term, the vision is to open up the unified margin logic for external use cases and introduce independent validators to run state machines of the Extended network.

Principles Behind Extended

Safety and Transparency

• Self-Custody: Users retain full custody and control over their funds on Extended. Exchange does not have access to user funds.

• On-Chain Settlement and Validations: Trades are settled on the blockchain with embedded smart contract validations of the trading logic that prevent fraudulent or incorrect transactions.

• Independent Oracle Price Providers: Extended relies on mark prices obtained from independent oracle providers to prevent potential price manipulations and ensure fair valuation of positions.

Enhanced Trading Experience

• Remarkable Performance: Extended offers unparalled execution speed with latency <10ms, high throughput and instant trade finality, rivaling centralized exchanges.

• Advanced Trading Features: Offering a trading experience matching top centralized exchanges, Extended supports multiple trading sub-accounts, partial liquidation logic, and a variety of order types.

Premier UX

• CeFi-Like Experience: Extended integrates the best elements from leading centralized exchanges, allowing for layout customization and providing advanced market and portfolio analytics.

• Seamless Onboarding (being built): Secure one-click wallet creation, extensive on/off-ramping options, and an upcoming mobile and Telegram apps to enhance user convenience.

Low Fees, Rebates

• Fees and Rebates: Extended offers fees and rebates comparable to leading centralized exchanges (see Extended Fees and Rebates here).

Product Roadmap

Extended is building an open financial ecosystem powered by a global unified margin, enabling users to deploy their crypto assets in the most capital-efficient way.

Current Priorities

The first phase of this roadmap focuses on the tokenization of Extended vault shares and the integration of a native lending and borrowing market into Extended. This will allow users to post any supported asset — including yield-bearing ones — as collateral and earn additional yield through the integrated lending layer.

For example, if a user deposits wstETH as collateral and incurs a negative PnL while trading USDC-settled perpetuals, this effectively means borrowing USDC — with interest paid to USDC lenders.

Once the native lending market is in place, we’ll add spot markets to Extended’s offering — expanding toward a cross-asset collateral unified margin with integrated perpetuals, lending, and spot trading.

Longer-term Vision

Unified margin will initially serve as a core internal product, designed to meet the needs of traders by enabling multi-asset collateral support and delivering one of the most capital-efficient trading systems in the market. However, the long-term vision for Extended goes far beyond that.

Following Hyperliquid’s success, many perpetual DEXs are now following the playbook of launching perps and then building a general-purpose chain — but Extended is taking a different path. We’ll be sharing more details soon, but briefly, the ambition is to build an EVM-compatible network on top of Starknet, where unified margin logic is embedded directly into the base layer and exposed as an ERC-20 token accessible to all applications on the network.

This means that core functions — such as margining with native, network-wide borrowing and lending, and liquidation — will be handled by the network itself rather than by individual applications.

The Extended network, with global unified margin at its core, will allow all applications within the network to access users’ available margin and share unified liquidity — reinforcing overall liquidity depth. From the user’s perspective, all activity will contribute to a single global margin account shared across applications, allowing them to manage one account instead of multiple app-specific ones and maximize capital efficiency by using the same margin across dApps.

The security and fairness of the network will be ensured by independent validators who execute the core business logic of the unified margin, validate transactions, and handle sequencing. The application state machines run by validators will be open-sourced and optimized for financial applications, with latency under 100 ms.

Progress so far