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.