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What are Strategies

Strategies are pre-built, max-leverage positions on pegged vaults within Jupiter Lend. They allow you to enter an automated looping position in a single click, without manually configuring leverage, collateral, or debt parameters. Each strategy uses a pegged vault where the collateral and debt assets are correlated (e.g., JupSOL/SOL, JUICED/USDC). Because these vaults use on-chain redemption rates as their oracle price rather than market prices, market price fluctuations do not directly cause liquidations. Strategies are built on top of Multiply. They follow the same mechanics, the same liquidation rules, and the same fee structure. The difference is that Strategies automate the setup: you deposit, the protocol handles the rest.
Strategies are pre-built templates. You should understand the risks of each strategy before entering a position.

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How it works

When you deposit into a strategy, two transactions are required:
  1. Create Position — creates your position account on-chain (including the Position NFT).
  2. Apply Leverage — deposits your collateral, borrows the debt asset, swaps it back into the collateral asset, and redeposits it. This loop repeats until max leverage is reached.
Both transactions happen back to back. If you already have an existing position in that strategy, only one transaction is needed to add more collateral.
Each position is represented by a Position NFT sent to your wallet. Do not burn this NFT. It is required to manage and withdraw your funds.
Withdrawing fully unwinds your position in a single transaction. The system swaps your collateral to repay all outstanding debt via a flashloan, then returns the remaining assets to your wallet.Partial withdrawals are not supported for Strategies. You always withdraw 100% of your position.
The APY displayed on each strategy is calculated based on the difference between the Supply APY (what your collateral earns) and the Borrow APY (what you pay on the debt), multiplied by the leverage.This APY fluctuates in real time based on supply and demand in the underlying lending pools. It is not fixed.The APY shown applies to your net value (total collateral minus total debt), not to your total position. With high leverage, your net value is a small fraction of the total position.
Each strategy has a capacity limit that caps the total amount that can be deposited across all users. This limit controls how much leverage the strategy can take on collectively.The capacity status is shown on each strategy card:
  • 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

All current strategies use pegged vaults with correlated asset pairs. Each strategy’s risk level and yield source depend on the underlying assets.
StrategyCollateral / DebtRiskYield source
JupSOL LoopJupSOL / SOLLowSOL staking rewards
INF LoopINF / SOLLowLST basket yield + swap fees
JUICED Loop - USDCJUICED / USDCLowT-bill yield
JUICED Loop - USDTJUICED / USDTLowT-bill yield
SyrupUSDC LoopsyrupUSDC / USDCMediumOvercollateralized institutional loans
LBTC LoopLBTC / cbBTCMediumBabylon network staking rewards
Assets are correlated and the blockchain-maintained redemption rate is used as oracle. There is no market price risk. The main risk is that SOL borrow rates spike for a sustained period of time.
Assets are correlated. INF holds a basket of LSTs and enhances their yield via swap fees between them. There is no market price risk. The main risk is that SOL borrow rates spike for a sustained period of time.
Assets are correlated and yield is generated via T-bills. The main risk is that borrow rates spike for a sustained period of time.
Assets are correlated. SyrupUSDC is backed by overcollateralized loans issued via institutional grade custodians. The main risks are that SyrupUSDC depegs or borrow rates spike for a sustained period of time.
Assets are correlated. LBTC yield is generated via staking rewards on Babylon network. The main risks are that slashing occurs to LBTC’s underlying or cbBTC borrow rates spike for a sustained period of time.

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Risks

Strategies use max leverage on pegged vaults. While pegged vaults significantly reduce market price risk compared to standard Multiply positions, they do not eliminate all risk. Rate risk
Borrow rates are variable. If the Borrow APY exceeds the Supply APY for a sustained period, your position loses value over time. At max leverage, this effect is amplified. The higher the leverage, the faster the deteriorates when rates move against you. Depeg risk
For most strategies (JupSOL, INF), the oracle uses on-chain redemption rates, so a market depeg does not affect your position. However, for strategies backed by external mechanisms (SyrupUSDC, LBTC), a depeg of the collateral asset or a failure in its underlying could impact your position. Liquidation
If your debt-to-collateral ratio reaches the , part of your collateral is automatically sold to repay the debt. Liquidation penalties vary by vault and apply only to the liquidated portion. For pegged vaults, liquidation is primarily driven by rate divergence over time, not sudden price drops. Smart contract risk
Strategies use the same Jupiter Lend smart contracts as Borrow and Multiply. All contracts have been audited, but no protocol is completely risk-free. You can use the Liquidation Calculator available on each strategy’s Risk modal to simulate how rate changes affect your position at max leverage over time.

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Fees

Strategies use the same fee structure as Borrow and Multiply. There are no additional fees for using Strategies.
Borrowing interest accrues on the total leveraged debt, not just your initial deposit. Each deposit and withdrawal involves swaps, which carry standard network and swap fees.