Multiply (leverage)
Multiply increases your exposure to a collateral asset by looping borrow and supply in one step. What happens: The protocol borrows a debt token, swaps it into your chosen collateral, and supplies that collateral to your account. You end up with more collateral and more debt than a single manual borrow would give you. When to use it: You expect your collateral to outperform your borrow cost and accept higher liquidation risk. Not financial advice. Risk: Leverage amplifies both gains and losses. A small collateral price drop moves your health factor much faster than it would on an unleveraged position, because you hold more collateral and more debt against the same starting capital.A multiply account is locked into that mode. The position mode is fixed when
the account is created and never changes, so an account opened for multiply
cannot later be used as an ordinary supply-and-borrow account. If you want both,
open two accounts — one wallet can own several.
Swap debt
Swap debt changes which token you owe without closing your position. What happens: The protocol borrows a new debt token, swaps it into your current debt token, and repays the old debt. You keep the same collateral but owe a different asset. When to use it: You want to move debt into a token with lower borrow cost, better liquidity, or a rate you prefer.Swap collateral
Swap collateral changes which asset backs your loan. What happens: The protocol withdraws one collateral asset, swaps it into another, and resupplies the new asset. Your debt stays in place. When to use it: You want to rotate into a different collateral without repaying debt first.Repay with collateral
Repay with collateral closes debt using collateral instead of tokens from your wallet. What happens: The protocol withdraws collateral, swaps it into your debt token if needed, and repays debt. You can optionally close the entire position and receive any leftover collateral back. When to use it: You want to de-risk or exit without holding the debt token in your wallet.Before you use a strategy
- Check your projected health factor after the action.
- Confirm you accept swap slippage shown in the interface.
- Start small if you are new to leveraged positions.