How to open a Multiply Maker Vault

This article explains the advantages of the Multiply feature and shows a tutorial about how to open a Multiply Maker vault

Open a Multiply Maker Vault

About Summer Multiply:

On you are able to immediately utilize your borrowed DAI to buy more of your favorite collateral asset without having to leave the app. Also, once your Multiply Vault is open, you can increase or decrease your exposure to your cryptocurrencies all in a single transaction without the need for any collateral or Dai in your wallet.

In short, by using Multiply you will:

  • Borrow DAI and buy more collateral in one simple click

  • Access up to 4x increased exposure on your collateral in one click

  • Buy or sell collateral from an open vault in one click

  • Close your Vault to Dai or Collateral without needing to pay back the Dai first from your wallet

How to create a Multiply Vault from scratch:

  1. Go to and from the homepage, select the asset you want to use as collateral

  2. To increase your exposure to the asset, click Multiply. If you haven't already, it will ask you to connect your wallet

  3. Using the form on the right hand side (on desktop), enter the initial amount of collateral you want to deposit

  4. The form will update, and you can use the slider to adjust your exposure and a simulation of how the figures would change based on your choice. The form will show you a full list of parameters your Vault will be set up with, along with some order information. A full list of terms can be seen at the bottom

  5. Once you have selected the relevant numbers for your Vault, click confirm

  6. If you are a first time user to Summer, or the Maker Protocol, you may be asked to create a Proxy contract. This just allows you to get a better experience so we can group transactions together. This is just a one-time thing and you won't have to do it again while using Summer. Please note that there is a Gas Fee involved in setting up this contract.

  7. Finally, you will see a confirmation of your Order. If you had to deploy your Proxy, the prices may have changed slightly - review your order and if you are happy with it click Create Vault

  8. Sign the transaction on your selected wallet, and wait for the transaction to be mined

  9. You should then see confirmation that your Multiply Vault was opened and you can now visit it by clicking the button on the form which shows you confirmation of your Order and new Vault Id.

Now your Multiply Maker Vault is open, you can adjust the Vault over time. This follows a similar pattern to above (steps 3 - 8, excl. 6) and allows you to either Buy or Sell additional collateral depending on how you would like to manage your Risk.

Order information and terms

Buying (selling) *asset*: the amount of collateral you are buying (or selling) from the market with the borrowed amount.

Total *asset* exposure: the sum of the amount of collateral being deposited and the amount being bought. You will be exposed to price movements to this total amount.

*asset* Price (impact): current asset price in the open market. Price impact is the spread between the mid price and the execution price of a trade as the size of the trade grows with respect to available liquidity. It represents how much the size of your trade is expected to impact the current price.

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