Insilico Terminal Podcast Insilico Terminal Podcast Episode 7 - Extended Founder Ruslan
Oct 23, 2025
Ruslan, founder of Extended and former head of crypto operations at Revolut, shares insights on building a self-custody exchange. He discusses the evolution from Revolut to creating a trustless trading platform, emphasizing the benefits of a small, agile team. Ruslan dives into the unique features of Extended’s unified margin and multi-asset collateral systems. He also explores the technical challenges of liquidation processes and risk management, and how recent market crashes informed their strategies for stability and sustainable growth.
AI Snips
Chapters
Transcript
Episode notes
Built After Centralized Failures
- Ruslan founded Extended after observing centralized-exchange failures and wanted a self-custody, on-chain validated exchange.
- He saw a clear product gap for better UX and expanded product portfolios in trustless perps.
Unified Margin As Core Differentiator
- Extended's core differentiator is unified margin across perps, spot and lending, starting with tokenized vault shares.
- They plan spot, cross-asset collateral, and an EVM-compatible network to reuse margin across venues.
Pick An Independent Settlement Layer
- Choose a settlement layer you don't control to make user funds trustless and secure.
- Prefer a chain in the Ethereum ecosystem with required throughput and decentralization properties.