> For the complete documentation index, see [llms.txt](https://docs.extended.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.extended.exchange/about-extended/readme.md). # Overview & Vision For information only. Eligibility and jurisdictional restrictions apply. Trading involves risk of total loss. See the Terms, Risk Statement and Restricted Countries. ### **Extended Overview** Extended is a perpetuals DEX built by an ex-Revolut team, offering trading across 300+ markets including crypto, equities, FX, commodities, and indices, with up to 100x leverage, zero maker fees, and 0.025% taker fees (0.01% on RWA markets). The platform aims to bridge crypto-native infrastructure with traditional financial markets. Extended is expanding its RWA offering through integrations with established trading platforms, enabling a broader range of tradable markets and bringing deeper liquidity and institutional flow on-chain. Extended uses USDC as its base collateral asset. Users can deposit USDC into the Community Vault to earn yield and receive XVS, the Vault’s share token, which can be used as collateral on the exchange. **The same capital earns yield and serves as margin for trades simultaneously.** ### **What Sets Extended Apart** Extended is building a unified margin system that combines perpetuals, spot, lending, and additional trading products within a single account. The first component of this system is cross-asset collateral, which is live. Users can deposit a range of assets and use them as margin across USDC-settled crypto and RWA markets. Currently, cirBTC, wETH and XVS are accepted as collateral. This unlocks several important use cases: * Support for a broader set of collateral assets, one of the key reasons traders continue to rely on centralised exchanges * Basis trading within a single account (long spot/short perp) * Additional yield for the Vault, strengthening XVS economics Cross-asset collateral works alongside a native lending layer, which enables borrowing against collateral as part of trading activity and forms the foundation of unified margin. The Vault acts as the primary lender, further reinforcing XVS yield. The rollout of unified margin is structured in phases: * Cross-asset collateral enabled by native lending (live) * Spot markets * Additional trading products beyond perps, spot, and lending More details about the design and implementation of unified margin can be found [here](https://x.com/rf_extended/status/2029898185561239566). Extended is also integrating with crypto-native applications and TradFi platforms, embedding its markets directly in wallets, broker apps and other financial products. Users can trade Extended markets without leaving the app they already use. Developers building their own frontends can earn a fee on every trade they route through [Builder Codes](https://docs.extended.exchange/extended-resources/builder-codes). This approach aims to expand distribution, lower user acquisition costs and bring both retail and institutional flow on-chain. ### Progress So Far