Woofun AI reports that Extended, a derivatives platform founded by former Revolut team members, has consolidated its market position on Starknet through a unified margin mechanism. Written by Grok and edited by Saoirse for Foresight News, the project distinguishes itself by enabling professional traders to access a hybrid trading environment that bridges crypto assets with tokenized traditional financial products. This strategic positioning allows the platform to operate as a perpetual futures exchange where users can manage diverse portfolios within a single account structure.

In July 2026, the platform secured $12.5 million in strategic funding, a round led by the retail trading giant eToro with significant participation from Jump Crypto and Alber Blanc. The capital allocation strategy is explicitly directed toward accelerating product development and market promotion within the Starknet ecosystem.

Furthermore, the funds will drive ecological cooperation with Zengo, eToro's self-custody wallet, to deepen user integration.

Woofun AI data shows that this financial injection brings the project's total raised capital to $19 million, signaling strong institutional confidence in the unified margin model. The strategic partnership with eToro is designed to leverage its massive retail user base, while Jump Crypto and Alber Blanc provide the necessary technical and market-making expertise to scale operations.

Since its official launch on Starknet's mainnet in August 2025, Extended has processed a cumulative trading volume exceeding $252.4 billion. The platform functions as a perpetual futures exchange, offering support for up to 100x leverage across a wide array of crypto assets and tokenized traditional financial products. This high-volume throughput demonstrates the immediate market demand for a system that allows cross-asset trading without the friction of converting collateral between different chains or protocols. The ability to trade stocks, forex, commodities, and indices alongside cryptocurrencies in one interface has become a defining metric for the platform's early success. The sheer scale of volume processed in such a short timeframe underscores the efficacy of the underlying architecture in handling complex order flows.

The project's origins trace back to X10, which was launched in 2024 by a team of former Revolut members based in the UK. Revolut, a leading global digital finance unicorn, provided the foundational experience in cross-border payments and retail financial product development that the team leveraged. Initially built on StarkWare's StarkEx extended engine, the project migrated to Starknet's mainnet in 2025 to utilize universal zero-knowledge Rollup capabilities. This migration enhanced composability while ensuring that all user funds remain fully self-custodied through on-chain smart contracts. Every transaction is verified and settled on Starknet, maintaining a high standard of security and transparency. The technical architecture employs a hybrid Central Limit Order Book (CLOB) model where an off-chain execution layer manages order matching and risk management to achieve low latency. On-chain settlement relies on STARK proofs to guarantee the integrity of the ledger. The platform utilizes USDC as the primary settlement asset, charging zero order placement fees and an expense ratio of 0.025%. It currently supports over 100 perpetual contract markets covering cryptocurrencies, stocks, forex, commodities, and indices, with leverage options reaching 100x.

A critical component of the platform's infrastructure is the unified margin system, which permits multiple assets to serve as collateral for trading USDC-settled contracts. Assets such as wBTC, ETH, or XVS can be deployed directly in perpetual trades without requiring prior conversion into a stablecoin. This mechanism allows spot positions and perpetual positions to share the same account, enabling other assets to automatically cover losses in the event of a deficit. The system is designed to integrate native lending functions and will support tokenized vault shares known as XVS. Through the Community Vault, users can deposit USDC to earn yields and receive XVS in return. To support this high-frequency activity, Extended is constructing an app-specific chain that utilizes high-throughput BFT consensus for decentralized ordering. This infrastructure aims to maintain transaction latency under 100 milliseconds while preserving the security features of Starknet. The platform provides comprehensive APIs, SDKs, and tools for builder programs to encourage external developer participation. The architecture is structured in three layers: Ethereum L1 settlement, a Starknet ZK proof intermediate layer, and a dedicated appchain featuring a built-in unified margin liquidation module.

Tokenomics are centered around XVS, or Extended Vault Shares, which serve as the platform's core utility token. Users who deposit USDC into the Vault receive XVS, with 90% of the value counted toward their equity and available balance for trading. XVS functions as yield-generating collateral in perpetual trades, producing base yields derived primarily from liquidation activities and interest from the native money market. Additional yields are generated based on the user's trading level, sourced from exchange fee splits, with all earnings accumulating in XVS form. The Vault implements a 24-hour deposit cliff, meaning partial positions are closed upon withdrawal, potentially resulting in users receiving a mix of assets rather than a single asset type. Full withdrawal of XVS is not currently supported, though the team is evaluating the addition of this feature in the future. The platform launched its Season 1 points program at the end of April 2025, distributing up to 1.2 million points every Tuesday at 00:00 UTC. Users accumulate points through trading volume, providing Vault liquidity, and making referrals. These points act as a key indicator for potential future token airdrops, although the official timeline for a Token Generation Event (TGE) or airdrop remains unannounced. The full XVS token economics model, including total supply, distribution, inflation mechanism, and governance, is not yet fully disclosed, with the team emphasizing that value will ultimately belong to token holders.

The core team brings extensive experience from the centralized finance sector, led by CEO Ruslan Fakhrutdinov, who previously managed Revolut's crypto business and worked at McKinsey. CTO Dmitrii Krasovskikh has led the development of multiple exchange technologies and the infrastructure for Revolut's crypto business, while CBO Sergei Bulavintsev and other senior engineers round out the leadership. Financing records indicate the project completed a $6.5 million seed round in 2025, backed by Tioga Capital, Semantic Ventures, StarkWare, and Cyber Fund. The subsequent $12.5 million strategic round in July 2026 brought the total funding to $19 million. In the competitive landscape, Extended differentiates itself from Hyperliquid, which focuses on extreme performance and high-frequency trading, and GMX, which emphasizes a liquidity provider model. Extended prioritizes capital efficiency within a single account and a seamless experience across multiple assets. Its background in Starknet ZK technology enhances security and cost control, while partnerships with eToro help expand its user base. The platform has integrated with Stork Oracle to access global markets and offers spot trading for BTC, ETH, and USDT. It is not available in restricted regions such as the United States and continues to emphasize risk management and compliance requirements. Recent priorities include integrating with wallets and brokerage platforms, expanding RWA products, and advancing the development of 24/7 trading infrastructure.

Extended is focusing on its core feature of unified margin to build an on-chain platform on Starknet that better meets the needs of professional traders. The funding it has secured and ongoing product development lay a solid foundation for its future growth. Its performance in terms of technological improvements, liquidity, and ecosystem integration will determine its position in this competitive field. This marks a significant consolidation of capital and talent in the derivatives sector, signaling a shift toward more integrated trading experiences.