Multiplier V2 Features

3 min readMay 21, 2021

Multiplier is proud to announce new features for V2 which is expected to launch by Q3 2021!

After launching V1 in late February 2021, the lending protocol has since grown to over 40 million in cross-chain TVL (at time of writing).

Additionally, we have accomplished phase 1 of our Q2-Q3 Roadmap, which focused on synergic goals such as the onboarding of new collateral assets, integration of new wallets, and strategic collaborations with leading players in the space.

Today, the Multiplier team is excited to present new features of V2, inspired from community feedback as well as some features from leading protocols!

The new V2 is part of a continuous upgrade aimed to unlock greater value in DeFi and to give our users a more seamless experience.

Multiplier V2 Features

Adjustment of Fees
Various protocol fees have been adjusted in v2, such as the removal of loan origination fees, and the reduction of flash loan fees.

Fee adjustments were based on market feedback as well as with new deflationary mechanisms in mind.

New Deflationary Mechanisms
Various protocol fees will now be burned, including flash loan fees and cross-chain conversion fees. These fees will now be burned in bMXX, or used to buy bMXX to be burned.

Additionally, revenue generated from our liquidation bot will be used to buy and burn bMXX.

This is the first time bMXX will adopt deflationary burn mechanisms, ensuring a healthier ecosystem in the long-term. Previous burns were done in MXX tokens only.

New Lender & Borrower Incentives
Multiplier V1, inspired by Aave, is a lending protocol originally conceptualized to forgo lending and borrowing rewards/emissions.

V2 will now include new lender and borrower incentives — lenders who deposit stablecoins, and borrowers who loan BTC, ETH and BNB will now receive bMXX daily.

Increased Governance Incentives
The current governance incentives of 400 bMXX shared daily among stakers will be increased threefold to encourage greater governance participation.

New Dark Mode UI
V2 will include a Dark Mode option. Users may toggle between Dark Mode and Light Mode in the new v2 UI.

New Collateral Swap Feature
Multiplier will be integrating with PancakeSwap to bring the swap feature to the platform. Users will have the ability to swap their deposited assets to other assets.

New Collateral Repayment Feature
Multiplier V2 will allow users to repay their debt/loans with their deposited collateral.

New Batch Flash Loan Feature
Flash-borrowers could only borrow one currency at a time with V1. Batch Flash Loans will allow developers to execute a Flash Loan with multiple assets inside the same tx.

Debt Tokenization
In V2, borrowers will receive receipt tokens that represent their debt. This debt tokenization allows borrowers to manage their debt positions from their cold wallets.

Stable & Variable Rate Borrowing
With V2, borrowers can have both a stable borrow position and a variable borrow position at the same time, with the same underlying asset, from the same wallet. This gives borrowers more options and flexibility for their loan position, and borrowers are still able to switch between the variable and stable rate at any time.

Multiplier V2 Cardano
Multiplier will release v2 on Cardano Chain after deploying v2 on Binance Smart Chain.

V2 will exist on both blockchains.

Thank you for your support!

More details on each new feature can be explored in our new upcoming litepaper.

*Some Multiplier V2 protocol designs are architected and forked based on Aave v2.