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.
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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.
Why Starknet Fits Exchange Needs
- Starknet fit Extended's needs: Ethereum integration, throughput for ~0.5–1M tx/day, and security features like zk and decentralized sequencer.
- Users can still use standard EVM wallets while funds are secured on Starknet.
How Multi‑Asset Margin Works On‑Chain
- On-chain account logic uses per-vault equity and maintenance margin thresholds to trigger liquidations or ADL.
- Adding spot collateral keeps the same logic but adds price discounts and liquidation steps including RFQ for spot sales.