Extended risk score
Short answer: Perpd scores Extended 72/100 (Some known risks) as of 14 Nov 2026, ranking 4 of 10 (tied). Its weakest factor is exit risk (5/10): Users hold their own keys on Starknet, and no withdrawal pauses were found. Its strongest is security record (9/10).
| Factor | Weight | Score | Why |
|---|---|---|---|
| Exit risk | 20% | 5/10 | Users hold their own keys on Starknet, and no withdrawal pauses were found. |
| Security record | 15% | 9/10 | Formula: 10, minus 1 because no bounty size was confirmed. |
| Liquidation & ADL | 15% | 8/10 | No ADL or socialized-loss incidents found. |
| Execution check | 15% | Not scored yet: needs 7 daily order-book snapshots. Preview in Perp DEX fees compared: what a $100K trade really costs. | |
| Volume quality | 10% | 6/10 | 30d volume $6.37B (about $212M/day). |
| Access & legal | 10% | 7/10 | Named entities (X10 Ltd for perps), but the restricted list was not retrievable from the docs and the jurisdiction is not stated (-3). |
| Token, unlocks & team | 10% | 8/10 | No token yet. |
| Cost | 5% | 9/10 | 0.025% taker / 0.000% maker at base tier, with maker rebates of 0.002-0.010%. |
Weighted over the 7 scored factors: 72/100. Method: How Perpd scores perp DEXs.
Exit risk: 5/10
Users hold their own keys on Starknet, and no withdrawal pauses were found. But independent audits of the Starknet Perpetual contracts show no user-triggered forced withdrawal: the operator must finalize every withdrawal and a security agent can pause them, which contradicts Extended's own 'force withdraw' claim. EVM-wallet users deposit and withdraw through the third-party Rhino.fi bridge.
- ChainSecurity audit of StarkWare's Starknet Perpetual: users call withdraw_request(), and withdraw() 'must be finalized by the operator'. The only user-side escape is cancel_deposit() after cancel_delay, which covers deposits only. withdraw(), transfer(), trade(), liquidate() and deleverage() are blocked while paused, and the security agent 'has the power to pause the system'. The upgrade governor can upgrade after a delay that is not sanity-checked (Finding 7.4, Risk Accepted). The operator 'guarantees the forward progress of the system'. (source, 2025-09-15)
- The Code4rena Starknet Perpetual contest (audit 19 Mar-9 Apr 2025) describes no forced-withdrawal or forced-trade mechanism. (source, 2025-06-18)
- Extended's fork x10xchange/starknet-perpetual has a PR titled 'Enforced withdrawals' (#104, opened 20 Oct 2026, closed 21 Oct 2026, not shown as merged). It adds an operator-only migration_withdraw, not a user-triggered exit. A bot review flagged a P1 risk that the operator could create owner approvals without a migration-eligibility check. (source, 2026-10-20)
- Extended's own claim: if the operator is unavailable, users can force withdrawals directly through the smart contract. Not supported by the audited Starknet code. X10 on StarkEx did have forced withdrawals. (source, undated)
- EVM-wallet deposits and withdrawals (Ethereum, Arbitrum, Base, Arc, BNB Chain, Polygon, Avalanche) go via Rhino.fi; 'actual limits and processing times may vary depending on liquidity availability on the Rhino.fi bridge'. Starknet wallets can only deposit and withdraw on Starknet. No forced withdrawal or escape hatch is mentioned. (source, accessed 2026-11-14)
- Extended says users hold STARK keys locally, it has 'no custodial access to user assets under any circumstances', settlement is on Starknet, and if the operator is unavailable users can force withdrawals directly through the smart contract. (source, undated)
- Migrated from StarkEx (as X10) to Starknet in phases (dual run, reduce-only, final freeze). EVM-wallet accounts deposit from and withdraw to EVM chains, not Starknet. (source, undated)
- Starknet mainnet launch of Extended. (source, 2025-08-12)
Security record: 9/10
Formula: 10, minus 1 because no bounty size was confirmed. Audits are ChainSecurity and Code4rena, of the StarkWare/Starknet perpetual system.
- Audits: ChainSecurity (StarkWare Starknet Perpetual system) and a Code4rena public contest (2025-03 Starknet Perpetual). No other dates given. (source, accessed 2026-11-09)
- A bounty-program page exists. Maximum payout: not found (page not fetched). (source, accessed 2026-11-09)
- DefiLlama lists no hacks. $12.5M strategic round (eToro, Jump Crypto) dated Jul 2 2026. (source, accessed 2026-11-09)
- Starknet mainnet live since Aug 2025 (more than 1 year). Earlier history as X10 on StarkEx. (source, 2025-08-12)
Liquidation & ADL: 8/10
No ADL or socialized-loss incidents found. A Vault exists but its size and backstop role are unverified. Liquidation logic was not reviewed (-2 provisional).
- Docs have pages for Vault, Liquidation Logic and Oracle Prices (crypto and RWA). No dedicated insurance-fund or ADL page is listed. (source, accessed 2026-11-09)
- Community Vault program: 55% repeat-depositor rate (team claim). (source, undated)
- Vault size, oracle providers, ADL events: not found.
Volume quality: 6/10
30d volume $6.37B (about $212M/day). Current OI not found. The last reported ratio was about 5.8. Points farming is ongoing ahead of TGE, and the house MM desk earned points.
- 30d perp volume $6.372B. TVL $129.44M. OI not listed. (source, accessed 2026-11-09)
- Avg daily volume about $319M and OI above $55M (ratio about 5.8). (source, undated)
- 17,384,355 XTEN of the community airdrop is attributable to points earned by Extended's own internal market-making desk. (source, accessed 2026-11-09)
- Public wash-trading allegations: not found.
Access & legal: 7/10
Named entities (X10 Ltd for perps), but the restricted list was not retrievable from the docs and the jurisdiction is not stated (-3).
- Perps are provided by X10 Ltd. Spot is provided by Global Infrastructure Services Corp. Restrictions are 'per service terms'. VPN circumvention is forbidden. (source, accessed 2026-11-09)
- Terms of Use last updated 30/10/2026. Restricted list (US/UK/India/Canada/EU), entity jurisdiction and KYC: not found in the fetched text. (source, 2026-10-30)
- Regulator actions: not found.
Token, unlocks & team: 8/10
No token yet. XTEN tokenomics were published on 3 Nov 2026 (TGE date not announced): insiders get 50% (-2) with a 12-month cliff, and 30% goes to points holders.
- The XTEN checker is open. Holders must accept the Community Distribution Terms in-app by 31 Dec, or their allocation moves to the Ecosystem Fund. 300M XTEN (30%) goes to points holders, and Starknet accounts must nominate a self-custodial EVM wallet. 'Extended has not announced the TGE date.' (source, 2026-11-12)
- Points status: weekly points distributions ended, with 69.2M of the 70M-point cap distributed by 6 Oct 2026 and one final allocation pending. (source, 2026-11-13)
- XTEN, 1B fixed supply. Community 30% (fully unlocked at TGE). Emissions reserve 15%. Ecosystem 5%. Founders, team and investors 50%: team has a 12-month cliff then 36 monthly instalments; investors get 25% at month 12 then monthly to month 48. About 32.9% unlocked at TGE. (source, accessed 2026-11-09)
- Tokenomics unveiled. 'The specific TGE date and airdrop claim window remain to be announced.' (source, 2026-11-03)
- CEO Ruslan Fakhrutdinov is named. Team is ex-Revolut. (source, undated)
- Points program is live and converts to the 30% community allocation. Conversion rate not published. (source, accessed 2026-11-09)
Cost: 9/10
0.025% taker / 0.000% maker at base tier, with maker rebates of 0.002-0.010%.
- Perps and spot: taker 0.025%, maker 0.000%. RWA: taker 0.010%. Maker rebates 0.002-0.010% based on maker volume share. (source, accessed 2026-11-09)
- Funding interval and cap: not found.
Compare
FAQ
Is Extended safe?
No perp DEX is risk-free. Perpd scores Extended 72/100 (Some known risks). Its main flag is exit risk (5/10).
How is Extended's score calculated?
Seven factors scored 0-10 from public sources (exit, security, liquidation, volume, access, token, cost), weighted and scaled to 100. The execution check joins once we have 7 daily snapshots.
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