Most perp DEX projects attract traders with incentives such as low or zero fees and points campaigns, but very few give back to the community through incentives that persist after the TGE. As a result, their native token often lose value over time.
In this article, I explain why Extended is building one of the best trading platforms, how users can directly benefit from it, and what the team has planned for the token.
The Extended Roadmap
Let’s start with what Extended brings to the table.
Work on Unified Margin began shortly after the tokenization of vault shares (XVS) went fully live at the start of the year. The goal is to deliver it in Q1, alongside a lending and borrowing market.
What Is Unified Margin ?
Unified margin treats all assets in an account as a single collateral pool.
There is no separation between positions (spot, equities, commodities, crypto). Everything is calculated together.
This system is integrated with a lending/borrowing market :
Borrowing :
- Deposited assets are assigned a collateral value
- Based on total collateral, traders can borrow funds to open positions
Lending :
- Unused balances are automatically lent
- Assets earn interest while idle
This significantly improves capital efficiency, allowing traders to earn yield on unused balances.
Initially, unified margin will support collateral such as wBTC, wETH, and wUSDE.
A major upcoming integration is equities, enabled through a large trading platform. This will go far beyond a few stocks.
Source : Twitter
This allows users to hedge crypto, equities, and commodities (e.g. copper, crude oil) within a single unified margin account.
Additionally, a spot market is planned for Q2, before the TGE, further expanding unified margin functionality.
The Extended Flywheel for Traders
What makes Extended stand out is its flywheel model, which redistributes a portion of platform revenue back to traders through multiple mechanisms, including extra yield on top of vault base yield.
A key differentiator :
- Up to 90% of vault deposits can be used for trading
- No other perp DEX offers this at Extended’s scale
Imagine trading stocks, crypto, and commodities in one account :
- Low fees (0% maker / 0.025% taker)
- No KYC
- Daily yield deposited into your account (while currently earning points)
This is expected to go live by end of Q1.
Extra Yield Explained
Extra yield is paid on top of base vault yield.
The more you trade, the higher your trading league, and the more extra yield you receive.
Current league thresholds (subject to weekly updates) :
- King: ~4000 points
- Queen: ~2,500 points
- Rook: ~800 points
- Knight: ~80 points
Thresholds are percentage-based, meaning requirements can change depending on user distribution.
You can start earning points with a 5% points bonus and 10% fee discount on your first $50M trading volume : https://app.extended.exchange/join/LONG
If you don’t have a code : LONG
This supports my work at no cost and provides benefits in return so thank you.
Why Post-TGE Incentives Matter + The Token
Most users on perp DEXs farm points-based incentives. This is sustainable only if user retention remains after the TGE. Otherwise, projects fade, as many already have.
With Extended, the post-TGE plan is clear.
Buybacks start at TGE, funded by the treasury that has accumulated revenues since launch.
Operating Costs (~50% of Revenue)
- Team
- Settlement costs
- Maker rebates (gradually reduced)
- Extra yield for vault depositors
- Affiliate rewards
The remaining ~50% of revenue is confirmed by RF (CEO) to be used for native token buybacks.
This matters because :
- Extended has a clear fee model
- Traders know exactly what they pay
- Real revenue is transparent and measurable
Unlike “zero-fee” protocols with unclear economics, Extended generates strong, visible revenues, enabling sustainable buybacks.
Source : Dune
Right now, the cumulative revenue is about $15M. Around half goes to operational costs, and the rest is allocated to the treasury for future buybacks.
Additionally, investors will be incentivized to hold the native token to receive a higher percentage of the extra yield mentioned earlier.
“This is quite preliminary but we envision to keep % of net fees funding extra yield (in addition to interest payments from cross-asset collateral) but size of the extra yield will depend on staking of the native token.” -Ruslan Fakhrutdinov (Extended founder)
As we approach the TGE, more information will be released, allowing investors to better understand the incentives for holding the native token. It is clear the team wants to make this a priority.
Unlike most other perpetuals platforms, Extended has not raised much capital : only $6.5M at the start of the project, with advantageous terms (valuation), according to RF.
Twitter Group chat
It is also worth noting that Extended has refused multiple additional funding rounds at a +$300M FDV because the product is already profitable, so there is no need to give up more equity.
This allows a larger percentage of the tokenomics to be allocated to the community and product development. It is a clear signal that Extended is choosing the community over venture capital.
It has also been confirmed that at least 50% of the total supply is allocated to the community, including a 30% airdrop at TGE. Team and investor allocations are subject to vesting, more information will be shared as we get closer to TGE, and I will keep you updated on Twitter.
Regarding points, we are still in the first season. More details will be shared in the coming days.
Points are becoming harder to earn, it won’t get easier so start now.
As always, thank you for reading !
Extended (10% reduction fees for 50M first volume) + 5% Points boost :
https://app.extended.exchange/join/ASTROBOY13
Website : https://extended.exchange/
Extended Twitter (X) : https://x.com/extendedapp
Extended Discord : https://discord.gg/bNX9FdtGaG
Docs : https://docs.extended.exchange/
Disclaimer: This is not financial advice, you need to do your own research !
