I first learned about Extended in April from a podcast with the CEO, Ruslan Fakhrutdinov (RF), a talk I highly recommend if you want to learn about his background.
(Spoiler: he’s clearly not a beginner in crypto 😉)
A few days later, I wrote an article introducing the ongoing airdrop campaign. Since then, a lot of things have evolved (and definitely not in a bad way).
So in this article, I’m going to recap all the information I’ve gathered and explain why I’m now convinced that Extended will soon be recognized as one of the best PerpDexes in the space.
The Team
One of the things that impresses me most is how engaged the team is with the community. If you follow Ruslan on X, you’ll notice that he answers almost all questions and even addresses FUD about Extended, from explaining complex mechanisms to thanking community members who create content.
Source : Ruslan on X
Furthermore, the Discord team is also very dedicated, they help quickly and respond with professionalism and respect. That kind of reactivity is a strong signal of commitment and reliability to the community.
The Roadmap
Many projects show off fancy roadmaps with shiny titles but no precise target dates, one of the major red flags when researching any project.
With Extended, I noticed from the start that it was different. They’ve implemented everything they promised, on schedule and with clear communication.
Right now, the plan is straightforward :
- Tokenization of vault deposits, allowing users to earn yield (~26% APR) on vaults while using those deposits as collateral for trading.
- After that, the team will focus on unified margin, starting with major tokens such as wBTC, wstETH, USDE, etc.
- A lending market is also coming, enabling users to borrow and lend assets, earning yield not only with USDC but also with other tokens.
All of this is expected before the end of the year !
Source : Ruslan on X
And that’s not all, a spot market is coming in Q1 2026 !
These are the main objectives for Extended, but along the way, the team also plans to add smaller features such as :
- Trailing stop orders
- Isolated margin
- Improved liquidity
- New trading pairs
- And much more.
The Metrics
When analyzing any project, you need metrics to measure adoption and growth signs of a healthy platform.
For a PerpDex like Extended, the key metrics are :
- Volume
- Open Interest (OI)
- Total Value Locked (TVL)
- Active users
Looking at these, the numbers don’t lie Extended is growing fast as more and more traders discover and talk about it.
Regarding the drop in Open Interest (total active long and short contracts), it was caused by the mass liquidation event on October 10. Every major perpetual exchange saw the same sharp decline during that crash.
I’ve also noticed more large crypto accounts talking about Extended lately likely boosted by the new affiliate program, which rewards referrers and users through bonus points that meet certain criteria. It’s a win–win system for everyone :
Feel free to use my referral link to support my work for free and earn a 5% bonus on your points !
As for active users, growth has been remarkable :
- From 3,400 users at the end of September to 6,400 today !
And I’m certain this is just the beginning. Traders are realizing that on other PerpDexes like Lighter, earning points is becoming increasingly difficult, and that difficulty will only grow over time.
It’s truly a race against time, so it’s best to start now before it becomes too hard to catch up.
I also made an article on farming strategy on Extended if you need any help.
For people not familiar with trading and the User Interface of Extended I have an article you as well !
Airdrop
To be clear : the airdrop is 100% confirmed by the team.
The more points you earn, the bigger your airdrop will be.
Here are some alphas dropped during a podcast :
- 30% of the total supply is dedicated to the TGE airdrop, almost like Hyperliquid !
- The Token Generation Event is planned for the first half of 2026.
- There will be two seasons, with a small break in between.
We’re currently 24 weeks into the first season. No official end date has been announced yet, but I think it’s coming soon.
The team has a clear idea of how many points they plan to distribute and will update us at the right time.
Currently, 1.2 million points are distributed weekly, this may decrease in the second season.
That’s why it’s important to start early, as points are getting harder to earn every day.
At the time of writing, around 30 million points have already been distributed. Interestingly, the community has even created an OTC desk, with one transaction valuing 1 point at $3.
Source : Extended OTC
Final Thoughts
Ruslan (the CEO) often repeats that the project is community-oriented and from everything I’ve seen as both a community member and tester, that statement is absolutely true.
I’m confident that the Extended team truly values its community and has what it takes to become one of the top PerpDex platforms in the coming months.
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/
My favorite Crypto Faucet: Cointiply (referral)
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Disclaimer: This is not financial advice, you need to do your own research !
