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This guide walks through the Strategies product on Jupiter Lend: how to read the interface, enter a strategy, and withdraw. For the full breakdown of mechanics, available strategies, fees, and risks, see the Strategies reference page. Strategies are built on top of Multiply. They use the same engine, the same liquidation rules, and the same fee structure. The difference is that leverage and vault selection are preset: you choose a strategy, deposit your collateral, and the protocol handles the rest at maximum leverage on a pegged vault.

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The Strategies page

Open the Strategies tab at jup.ag/lend. The page is organised around a single Available Strategies section. A How it works link next to the page subtitle opens a short in-app explainer.

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Strategy cards

Each strategy is displayed as a card with the following information:
ElementMeaning
NameFollows the pattern <Collateral> Loop (for example JupSOL Loop, JUICED Loop - USDC).
APYCurrent Annual Percentage Yield (APY) on the position’s net value, at maximum leverage. Variable, updates in real time.
DescriptionOne-line summary of the loop (for example “Borrows SOL and loops into JupSOL to amplify your yield”).
DepositedTotal USD value currently deposited in the strategy across all users.
Capacity LeftRemaining deposit capacity before the strategy reaches its ceiling, with a status badge.
RiskOpens a Risk modal describing the strategy’s specific risks. The modal also exposes a Liquidation Calculator to simulate rate scenarios at max leverage.
DepositOpens the deposit modal for that strategy.
The Capacity Left badge has three possible values:
  • Available: deposits are open.
  • Filling fast: capacity is running low.
  • Filled: no new deposits can be made until existing positions are closed or the ceiling is raised.

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Available strategies

StrategyLoopRisk level
JupSOL LoopJupSOL / SOLLow
INF LoopINF / SOLLow
JUICED Loop - USDCJUICED / USDCLow
JUICED Loop - USDTJUICED / USDTLow
SyrupUSDC LoopsyrupUSDC / USDCMedium
LBTC LoopLBTC / cbBTCMedium
See the Strategies reference page for the yield source and the specific risks of each loop.

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Creating a Strategy position

Creating a new Strategy position happens in two transactions: one to create the position account, one to apply the leverage. Adding more collateral to an existing position takes a single signature.
1

Choose a strategy

On the Strategies page, pick the strategy matching your target exposure. Click Deposit on the card.
2

Review the modal

The modal opens with the strategy pair in the header (for example JupSOL/SOL). At the top, three values are displayed:
  • APY: current estimated yield on your net value.
  • Vault TVL: total value locked in the strategy’s vault.
  • Capacity Left: available capacity, with the same status badge as the card.
If the badge shows Filled, deposits are paused and the action button is disabled until new capacity opens.
3

Enter the deposit amount

In the Deposit card, enter the amount of the collateral asset (for example JupSOL for the JupSOL Loop). Use HALF or MAX to auto-fill from your wallet balance. The Price Impact displayed below the amount reflects the impact of the internal swap that the protocol will perform to build the leverage.
4

(Optional) Adjust Advanced Options

Expand Advanced Options if you want to tweak swap parameters:
  • Slippage: tolerance for the internal swap. Presets are 0.05% and 0.1%, with a custom value option.
  • Minimum Swap Return: minimum amount returned by the swap after slippage. Informational.
The default 0.05% slippage works in most cases.
5

Step 1: Create Position

Click Deposit to trigger Step 1. Approve the first transaction in your wallet. This creates the position account on-chain and mints a Position NFT (Non-Fungible Token) to your wallet.
6

Step 2: Apply Leverage

Once the first transaction confirms, the modal advances to Step 2. Approve the second transaction. The protocol deposits the collateral, borrows the debt asset, swaps it back into the collateral asset, and redeposits it, repeating until maximum leverage is reached on the vault.

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Adding collateral to an existing position

If you already have a position in the same strategy, depositing more collateral requires only one transaction. The position account and Position NFT already exist, so the modal skips straight to the leverage application step.

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Position NFT

When you create a position, a Position NFT is minted to your wallet. It represents ownership of the position on-chain and is used by the interface to identify your funds.
Do not burn or transfer the Position NFT while the position is open. Without it in your wallet, you lose the ability to manage or withdraw the position through the interface.

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Withdrawing

Withdrawing from a Strategy fully unwinds the position in a single transaction. The protocol uses a flashloan to swap your collateral and repay all outstanding debt, then returns the remaining assets to your wallet.
Partial withdrawals are not supported for Strategies. A withdrawal always unwinds 100% of the position. If you want to reduce exposure without fully exiting, the position can be managed as a standard Multiply position through the Multiply page.
The amount returned to your wallet reflects the current net value of the position (total collateral minus total debt), minus swap and interest costs accrued during the holding period. After the position is closed, the Position NFT stays in your wallet. If you later open a new position in the same strategy, the NFT can be reused, so you do not pay the account creation fees again.

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Risks at a glance

Strategies apply maximum leverage on pegged vaults. Pegged vaults significantly reduce market price risk, since the oracle uses on-chain redemption rates rather than market prices, but other risks remain:
  • Rate risk: borrow rates are variable. If the Borrow APY exceeds the Supply APY for a sustained period, the position loses value over time. At max leverage, this effect is amplified.
  • Depeg risk: for strategies backed by external mechanisms (SyrupUSDC, LBTC), a depeg of the collateral asset or a failure in its underlying could impact the position.
  • Liquidation: if the debt-to-collateral ratio reaches the Liquidation Threshold (the debt-to-collateral level at which partial liquidation begins), part of the collateral is automatically sold to repay the debt. For pegged vaults, liquidation is primarily driven by rate divergence over time, not by price drops.
  • Smart contract risk: Strategies use the same smart contracts as Borrow and Multiply. Contracts have been audited, but no protocol is risk-free. Before depositing, open the Risk modal on each strategy card to review its specific risks and use the embedded Liquidation Calculator to simulate rate scenarios.
The full risk breakdown per strategy is on the Strategies reference page.

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Risks at a glance

Strategies apply maximum leverage on pegged vaults. Pegged vaults significantly reduce market price risk, since the oracle uses on-chain redemption rates rather than market prices, but other risks remain:
  • Rate risk: borrow rates are variable. If the Borrow APY exceeds the Supply APY for a sustained period, the position loses value over time. At max leverage, this effect is amplified.
  • Depeg risk: for strategies backed by external mechanisms (SyrupUSDC, LBTC), a depeg of the collateral asset or a failure in its underlying could impact the position.
  • Liquidation: if the debt-to-collateral ratio reaches the Liquidation Threshold (the debt-to-collateral level at which partial liquidation begins), part of the collateral is automatically sold to repay the debt. For pegged vaults, liquidation is primarily driven by rate divergence over time, not by price drops.
  • Smart contract risk: Strategies use the same smart contracts as Borrow and Multiply. Contracts have been audited, but no protocol is risk-free.
Before depositing, open the Risk modal on each strategy card to review its specific risks and use the embedded Liquidation Calculator to simulate rate scenarios. The full risk breakdown per strategy is on the Strategies reference page.