Ex-Revolut Crypto Team’s Perp DEX ‘Extended’ Launches on Starknet

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Ah, the marvels of modern finance! Just when you thought you’ve seen it all, along comes Extended, a decentralized exchange brought to life by the former masterminds at Revolut. It has finally graced the Starknet mainnet, offering high-leverage thrills and a delightful buffet of markets for those daring enough to brave the world of on-chain derivatives. 🤑

Once known as X10, this platform is headed by none other than Ruslan Fakhrutdinov, the former crypto czar of Revolut. A smooth move, wouldn’t you say? And, of course, this grand enterprise raised a tidy sum of $6.5 million last year-no doubt from a delightful mix of venture firms and crypto backers who’ve never met a good investment they didn’t like. Names like Tioga Capital, Semantic Ventures, Prelude, StarkWare, and Cyber Fund are all along for this riveting ride. Oh, and let’s not forget Konstantin Lomashuk, co-founder of Lido, who’s also getting in on the fun. Who doesn’t love a bit of a high-stakes gamble with your cash? 🎲

For those on the edge of their seats, Extended offers more than 50 markets, blending crypto pairs with traditional finance treasures like the euro-dollar, gold, the S&P 500, and good old oil. And as if that weren’t enough, they’re generously offering up to 100x leverage. Yes, you read that right-100x. Talk about a rollercoaster ride! 🎢

The exchange had been operating on StarkWare’s StarkEx system, where it was casually averaging daily volumes of $319 million. Yes, you read that right too-millions. With open interest over $55 million and a repeat depositor rate that makes the stock market look like a kiddie pool, this platform was quite the success. With a 70% APR over the last month, who wouldn’t want a piece of that pie? 🍰

Now, for the drama. The transition to Starknet will happen in three carefully orchestrated phases, beginning on August 12. For two weeks, both StarkEx and Starknet versions will operate simultaneously. But don’t get too comfy-after that, the StarkEx version will go into “reduce-only” mode before it is shut down entirely. A tearful goodbye for StarkEx, perhaps? 😢

“Hello hello! Welcome to the ecosystem 🥂”
– Eli Ben-Sasson | Starknet.io (@EliBenSasson) August 12, 2025

And of course, Eli Ben-Sasson, co-founder of StarkWare, couldn’t resist waxing poetic about the glorious progress of DeFi, pointing to Starknet’s scalability and composability as the reasons why world-class teams are lining up to build there. He might even get a medal for his optimism. 🏅

To entice traders to make the jump, Extended has doubled its rewards pool for Epochs 16 and 17. Up to 2.4 million points are now available each week for Starknet users. Just a little something extra to sweeten the deal! 🍭

The migration process itself is as easy as pie (or so they say). Traders need to close all open positions, consolidate funds into a single sub-account, and use the migration page to complete the switch. Simple, right? But don’t forget: U.S. traders are not invited to the party due to those pesky regulatory restrictions. 🙄

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2025-08-12 17:05