> ## Documentation Index
> Fetch the complete documentation index at: https://xoxno.com/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Strategies on Stellar Lending

> Multiply, swap debt, swap collateral, and repay with collateral on XOXNO Stellar Lending. One-transaction position tools for users.

Strategies bundle several lending steps into one transaction. You still have one account, one [health factor](/stellar-lending/health-factor), and the same risk rules as manual supply, borrow, and repay.

[XOXNO lending](https://xoxno.com/defi/lending) runs the swap routing for you. You approve the transaction in your wallet.

## 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.

**Risk:** Leverage amplifies both gains and losses. A small collateral price drop can push your health factor down quickly.

## 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.

<Tip>
  **For developers:** Strategy entrypoints, swap payload format, and position modes are in the [strategies developer guide](/stellar-lending/dev/strategies).
</Tip>