Extended | Combining CeFi Speed and DeFi Security – What Is the High-Speed DEX "Extended" Developed by Former Revolut Team?

Centralized exchanges (CEXs) offer high-speed trading and user-friendliness, while decentralized exchanges (DEXs) empower users with full asset control and transparency. The hybrid DEX “Extended” is attracting attention for offering the best of both worlds. Developed by a team led by the former head of crypto at Revolut, it uses StarkEx technology to enable gas-free high-speed trading and runs a points program that may lead to future airdrops. This article thoroughly explains Extended’s innovative structure, concrete benefits, and details of its rewards program.

There are two main options in the crypto trading world:

• Centralized Exchanges (CEX/CeFi): Like Binance or Coinbase, these are fast and easy to use, but users must deposit assets, which exposes them to counterparty risks like platform failure (e.g., FTX collapse) or hacking.
• Decentralized Exchanges (DEX/DeFi): Like Uniswap, users manage their own assets on-chain with high transparency. However, trade speed is slower, gas fees can be high, and the interfaces are often complex.

To break free from the dilemma of choosing between speed and usability or security and transparency, “Extended” (formerly X10) was developed as a hybrid DEX to combine both benefits.

The platform was created by a team led by Ruslan Fakhrutdinov, the former Head of Crypto at UK fintech giant Revolut. It has raised $6.5M in funding. Learning from the FTX debacle, Extended aims to deliver “CEX-like performance and features with full self-custody.”

Like many DeFi projects, Extended is running a points program that may reward early users.

• Purpose: Platform adoption, bug bounty, etc.

• Duration: From April 29, 2024 – end date TBD

• How to earn points:

  • Trading volume: Earn points as you trade.
  • Referrals: Once you’ve traded over $10,000, you can generate a referral code. Both you and your invitees may earn bonus points.

• How to participate (DYOR and at your own risk):

  1. Prepare a wallet: e.g., MetaMask.
  2. Fund your wallet: Have small amounts of ETH (for gas) and USDC (for margin) ready on Ethereum or Arbitrum (the latter is recommended for lower fees).
  3. Connect & deposit: Visit app.extended.exchange, connect your wallet, and deposit USDC.
  4. Start trading: Choose a market, set leverage, and trade to increase volume.
  5. Invite others: Once eligible, share your referral code.

• Important Notes:

  • Airdrop is not guaranteed.
  • Leverage trading carries risk.
  • Gas fees apply on Ethereum/Arbitrum.
  • Always check official sources (X/Twitter, Discord) to avoid scams.

1. CEX-Speed & Advanced Features

• Blazing speed: Uses Layer 2 “StarkEx” to achieve sub-10ms order execution with one-click trading.
• No gas fees: No blockchain transaction fees while trading. Maker rebates are planned to reduce costs.
• Pro tools: Includes split orders to avoid slippage, sub-accounts for strategy management, and partial liquidation logic.
• Deep liquidity: Designed to attract market makers and maintain narrow spreads.

2. DeFi-Grade Security & Transparency

• Self-custody: You control your assets via your wallet. No risk of losing funds due to exchange failure.
• On-chain settlement: All final transactions and verifications are recorded on StarkEx, ensuring integrity.
• MEV-resistant: Orders are handled off-chain, making them less vulnerable to miner front-running.

3. TradFi Asset Access – Not Just Crypto

Trade perpetual contracts not just for BTC and ETH, but also S&P 500 (SPX), Gold (XAU), Oil (XBR), and FX (EUR/USD) 24/7. With USDC as collateral and up to 100x leverage, the platform caters to both crypto and TradFi traders.

4. Built by Former Revolut Team

The team behind Extended brings extensive experience from Revolut in building user-centric financial tools, regulatory compliance, and scaling to millions of users. The $6.5M investment from top VCs, StarkWare, and Lido’s co-founder signals strong backing.

5. Early Adopter Rewards – Points Program Underway

The current Season 1 campaign may lead to a native token airdrop for point holders, incentivizing early participation.

Extended’s high performance stems from:

• Hybrid model:

  • Off-chain: Matching is done on centralized servers for speed.
  • On-chain: Settlement occurs on StarkEx, ensuring transparency and security.

• StarkEx:
  A Layer 2 scaling solution by StarkWare using ZK-Rollup tech, offering low cost and high throughput while retaining Ethereum security. Used by major projects like dYdX.

• Future move to Starknet:
  By mid-2025, Extended aims to migrate to Starknet to boost decentralization and DeFi composability.

• Self-custody of all assets
• On-chain auditability
• Independent oracle pricing
• MEV resistance
• Audited smart contracts via StarkEx

Short-Term:

• Mainnet launch
• Grow user base

Mid-Term (by mid-2025):

1. Launch spot trading
2. Enable unified margin
3. Complete Starknet migration
4. Deploy liquidity vaults (non-custodial yield opportunities)

Long-Term:

1. Open unified margin logic to external protocols
2. Introduce independent validators

Extended is an ambitious attempt to merge CEX usability with DeFi security, backed by cutting-edge tech and industry veterans. With support for TradFi assets, zero gas fees, and an ongoing points program, it appeals to a wide range of users.

Still in testnet, the project's success will depend on execution—but if done right, it could be a secure and efficient alternative in a post-FTX world.

What you can do now:

1. Follow @extendedapp and Discord
2. Try the platform
3. Join the points program (DYOR!)
4. Engage with the community

Watch Extended closely—it could be the next big thing in DeFi!