Introducing Multiply: Go long or short onchain from OKX Wallet
Multiply is a new way to take long or short exposure to BTC, ETH and SOL on X Layer through OKX Wallet.
It brings Aave-powered liquidity and OKX DEX spot trading into one flow, so you can open a larger long or short position without moving between different DeFi apps. You stay in control of your wallet, approve every transaction and review the estimated debt, variable interest, trading costs and liquidation risk before you confirm.
Long or short BTC, ETH and SOL in one flow
If you think an asset’s price will rise, choose Long. Multiply uses your available USDT first, then obtains any additional USDT through Aave to buy the selected asset.
If you think the price will fall, choose Short. Multiply obtains the selected asset through Aave and sells it for USDT. When you close the position, the asset is bought back and the amount owed to Aave is repaid.At launch, Multiply supports:
BTC and ETH: up to 3x Long and 2x Short
SOL: up to 2x Long and 2x Short
USDT as the main input and settlement asset
Trading on X Layer only
Actual limits depend on your available funds, Aave account, Health Factor and current pool capacity.
Keep your assets working while you trade
Multiply can use USDT from your wallet and eligible assets you have already supplied to Aave. Those assets can support your Multiply position without needing to be moved first.
If you use Loop, you’ll need a separate wallet for Multiply. Loop enables Aave’s Efficiency Mode (E-Mode), which adjusts borrowing settings for certain assets, while Multiply requires it to be off. Multiply will prompt you to create a new wallet before continuing.
Assets supplied to Aave may continue earning a variable supply rate while they are being used as collateral. The interest charged on your Aave debt (debt APR). Debt APR is also variable and can change with market conditions.
You can review the key details before confirming a trade, including:
Amount obtained through Aave
Debt APR
Estimated position
Health Factor before and after the trade
Estimated liquidation price
Service fee, slippage and price impact
Multiply uses Aave's account-level Health Factor, which assesses your supported supplied assets and debt together. As a result, opening or changing one position can affect the risk of your other positions.
If your Health Factor falls, you can add collateral, repay debt or reduce your position. OKX also covers gas fees for Multiply transactions, so you do not need to hold a separate token for gas.
OKX Wallet provides the interface for opening and managing your position. Your assets remain onchain in Aave smart contracts, while spot swaps are routed through OKX DEX. OKX Wallet does not act as the lender or trading counterparty.
To get started, open OKX Wallet and go to DEX > Multiply.
Try: https://web3.okx.com/ul/9AIryq
FAQs
1. Is Multiply the same as perpetual trading?
Multiply uses an account-level Health Factor calculated by Aave. This means the risk across your positions is reflected in a single account-level Health Factor. Opening or changing one position can therefore affect the risk of your other positions.
2. Where does my collateral come from?
Multiply uses the USDT you choose to contribute from your wallet, plus the additional amount supported by eligible assets already supplied to Aave. Those supplied assets remain in Aave and do not need to be moved first.
3. What costs do I pay?
You may pay Debt APY, a service fee, and costs related to the DEX trade, such as slippage or price impact. The latest estimates are shown before you confirm. Gas fees for Multiply transactions are covered by OKX.
4. What is Health Factor?
Health Factor is Aave’s measure of your account’s liquidation risk. A lower number means higher risk. Because it is calculated across your entire Aave account, one Multiply trade can affect all your positions.
5. What happens when I close a position?
Multiply completes the required spot trade and repays the applicable debt in Aave. Any remaining assets stay supplied in Aave and can be viewed or redeemed from Account Details.
6. Can I use Multiply and Loop with the same wallet?
You need separate wallets to use Loop and Multiply at the same time. Loop uses Aave's Efficiency Mode (E-Mode), an account-level setting that adjusts borrowing parameters for certain groups of assets. Multiply currently requires E-Mode to be off. If E-Mode is enabled on the wallet you use with Loop, Multiply will prompt you to create a separate wallet before continuing.Multiply carries a risk of loss and liquidation. Debt APY and asset prices may change with market conditions. Review all applicable costs and risk information before confirming a transaction.
Disclaimer
This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto/digital assets, or (iii) financial, accounting, legal, or tax advice. Crypto/digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding crypto/digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. Some content may be generated or assisted by artificial intelligence (AI) tools. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. OKX Web3 Wallet and its ancillary services are not offered by OKX Exchange and are subject to the OKX Web3 Ecosystem Terms of Service.
