SPY Multiply

Multiply holds more SPY than you deposit. You put in SPY; in one transaction USDG is borrowed against it, swapped for more SPY at the fairest venue, and deposited too. At 3.33× you hold 3.33 times what you put in and owe USDG for the difference.

Gains and losses both scale by the same multiple. Deposit $1,000 at 3.33×: you hold $3,330 of SPY and owe $2,330 of USDG.

At the full 3.33×, a 10.3% fall in SPY from where you opened takes the loan to the proposed 78% liquidation LTV and part of the position is sold to repay it. Figures ignore interest and swap costs.

1. You choose how much SPY to deposit and the leverage, up to 3.33×.
2. One transaction borrows USDG, buys SPY at the fairest quote, deposits everything and borrows against it. If any step fails, none of it happens.
3. Closing runs in reverse: the debt is repaid, the SPY is withdrawn, enough is sold to cover the loan and the rest returns to you.

• Losses grow by the same multiple as gains. A fall past the liquidation point sells part of the position at a penalty.
• When the borrow rate is above what SPY earns, the position costs money to hold.
• Stock Tokens can be paused by their issuer and follow US market hours. This page is not investment advice.