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Multiply is a strategy built on the Offerbook borrow flow, surfaced as its own section on the Borrow view: turn your USDC into a leveraged long on a collateral asset, by borrowing against that asset and increasing your exposure to it. A Multiply position is economically a regular Offerbook loan: same fixed rate, same fixed duration of 1 to 30 days, same fee schedule (25% of estimated interest upfront, 10% of interest at repayment), and no price-based liquidations during the loan. See Fees and Costs.
Leverage amplifies both gains and losses on the collateral asset. A Multiply position also remains a fixed-term loan: it must be repaid by maturity regardless of where the price stands, or the lender claims the collateral. Opening the position involves swapping borrowed USDC into the collateral asset, which exposes the entry to slippage.

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Using it from the interface

The Multiply section sits on the Borrow view of the Tokens market. Select the collateral asset; available terms depend on open lend offers for that collateral, so some assets may show no offers at a given time.