Extended aimed to complete all key milestones by the end of H1. Since then, besides expanding the product, we've made significant progress on strategic partnerships and fundraising, both of which took longer than expected given their complexity.
As a result, one key milestone was pushed back: progressing the decentralisation roadmap. Yesterday, we announced that Extended is now working to decentralize the sequencing layer, laying the groundwork for its future tokenomics. We'll share more updates as the rollout continues.
While the timeline has shifted, our commitment to the early community hasn't. Specifically:
1. The current plan remains for 30% to be allocated to the early community (points holders).
2. The final number of points after slashing will not exceed the originally budgeted 70 million points. Slashing will take place in the coming weeks. Extended may make further adjustments before TGE if additional issues affecting programme integrity are identified.
3. Until the end of the program, we'll be distributing up to 600,000 points weekly.
Please note that eligibility for any airdrop will be subject to separate terms and conditions. Having no points slashed does not guarantee eligibility for an airdrop, any particular allocation, conversion rate or value.
We appreciate everyone's continued support. Our priority remains unchanged: building the right product, infrastructure, and distribution to create a sustainable protocol.
How Extended is building differently
When Extended launched, the aim was to make the product trust-minimised, seamless, high-performance, and broad enough to support perpetuals, spot, yield products and portfolio margin.
That foundation is now in place. The protocol combines a high-performance trading experience with on-chain settlement and verification. User funds are held in smart contracts, while the trading logic and risk engine are implemented on-chain. Every transaction is verified and settled directly on @Starknet - transparent, verifiable, and open source.
One part of that foundation has remained more centralised than the target architecture: the sequencer.
Extended is now working to decentralise the sequencing layer, separating transaction sequencing from settlement. The settlement chain will continue to handle custody, with final verification and settlement performed on the underlying public blockchain, while sequencing will be performed by Extended's native network.
On-chain order books exist today, but most high-performance trading systems still require trade-offs between performance, decentralisation, and custody. Extended changes that. This work is already underway, and we'll be sharing more details as the rollout progresses.