Extended Plans Oct. 22 Settlement Move From Starknet to Arc

Extended, a decentralized perpetuals exchange, plans to move settlement from Starknet to Circle's Arc blockchain on Thursday, Oct. 22, at 9 a.m. ET. Extended says traders holding more than $1 of $USDT or wBTC in any sub-account must authorize conversion or withdraw those assets to avoid forced position closures, but its notices give conflicting action deadlines.

The exchange's Tuesday X notice says affected users “must act by 12:00 UTC on October 21,” or 8 a.m. ET. Its migration documentation lists a deadline one hour later, at 9 a.m. ET on Oct. 21. The graphic attached to the post instead gives Oct. 19 at 8 a.m. ET. The operative action deadline remains unconfirmed.

Users can authorize $USDT-to-$USDC and wBTC-to-cirBTC conversions at 1:1 with no fee. Extended describes cirBTC as Circle's Bitcoin-backed token and says it will separately credit a 0.50% premium on converted amounts within eight hours after migration. One in-app approval covers both assets across all sub-accounts; authorization cannot be revoked, although withdrawals remain available until migration starts.

Alternatively, users can withdraw $USDT and wBTC until each asset's remaining value is $1 or less in every sub-account.

Under the documentation's schedule, those who miss its deadline face restrictions across their entire account for up to 30 minutes on Oct. 21. Extended says it will cancel all orders and close positions at the mark price, without fees, in sub-accounts where either asset exceeds $1. It will return $USDT and wBTC to the user's login wallet.

The restrictions also block users from adding margin or closing positions in their other sub-accounts, even though those positions remain subject to normal liquidation rules. The documentation urges users to ensure those sub-accounts have enough margin before the deadline.

DefiLlama listed about $117.7 million in total value locked at Extended on Tuesday, almost all on Starknet.

Trading Continues While Deposits Pause

Extended says trading will continue uninterrupted during the Oct. 22 migration, but deposits and withdrawals will pause for up to two hours. Transfers between sub-accounts will remain available. Positions can still be liquidated during that window, so the exchange advises users to fund margin beforehand.

Most users will migrate automatically, retaining their accounts, sub-accounts, positions, orders, history, points and login keys. The documentation says $USDT and wBTC are not available on Arc, prompting the asset changes.

$USDC will move to native $USDC through Circle's Cross-Chain Transfer Protocol, which burns tokens on Starknet and mints the same amount on Arc. $ETH will move 1:1 as wrapped $ETH, or wETH. Vault token XVS balances, underlying assets and withdrawal rights will be preserved, Extended says.

$USDT and wBTC balances worth $1 or less per asset in every sub-account will convert automatically at 1:1, with no fee and no premium.