Introduction

Using hedged synthetics to deliver clean leveraged exposure.

Multiply provides leveraged directional exposure to external prediction markets through a synthetic CFD layer that operates entirely on Solana. Users trade via integrated terminals, while Dripster constructs and manages the corresponding hedges on the underlying venues. The system is powered by two distinct pools: the Hedging Facility, which finances and maintains delta neutral hedges only when positions can be actively managed in real market liquidity, and the Underwriting Facility, which is designed to absorb capped jump to settlement deficits during clearly defined hazard windows in a portfolio controlled way. The objective is simple: give traders clean leveraged PM exposure while ensuring Dripster never carries directional risk and the hedging facility never loses principal when positions remain within margin and liquidation rules.

CFDs are a well established structure in TradFi, supporting hundreds of billions in annual notional by delivering economic exposure without transferring custody of the underlying instrument. Multiply applies the same principle onchain. Synthetic positions mirror the payoff of external PM contracts, while collateral management, PnL accounting, margining, and settlement are handled natively on Solana.