Borrow against your stocks. Keep the shares.
Pledge tokenized Apple, Nvidia, Tesla or the S&P 500 — or dollar tokens like USDe — and borrow dollars against them in one click, without selling, without a broker, straight from your wallet. Or lend your dollars to the people who do.
A loan with your shares as the gage.
A gage is something of value you leave as security. Here it's the stock you already hold. Everything runs on Morpho Blue, a lending protocol whose rules can never be changed — Gage is the front door, not a middleman.
Put up shares
Move tokenized stock from your wallet into your own Morpho position. It's still yours; it just can't leave while you owe.
Take dollars
Borrow USDG up to a set share of the shares' value. Interest accrues every second at the market's live rate, set by supply and demand.
Take it all back
Repay whenever you like, in part or in full, and withdraw every share. No lock-up, no schedule, no one to ask.
Every rate, read off the chain.
Reading every Morpho market Gage lists…
| Collateral | Oracle price | Borrow up to | Borrow rate | Lenders earn | Free to borrow | Lent out |
|---|
More stock from the same dollars, in one transaction.
One transaction borrows against the shares it's buying — a Morpho flash loan covers the gap for the length of the transaction — so you end up holding more stock than your dollars alone would buy, with the loan already open. It runs on Morpho's own Bundler3, already live on Robinhood Chain: nothing to deploy, nothing of Gage's to trust.
- Closing sells only the shares the debt needs and hands back the rest.
- Morpho's adapter acts only on the position of whoever sends the transaction.
- No fee. Nothing is left in the bundler afterwards — the tests check it to the unit.
Or be the bank: lend USDG to borrowers.
Every dollar borrowed on Gage was lent by someone. Deposit into one stock's market and earn what its borrowers pay, or into Steakhouse's pooled vault that spreads across many.
- Withdraw any block, up to what the market has free.
- Rates move with how much of the market is borrowed.
- Borrowers are over-collateralised and liquidated before they go under water.
Checked against the real contracts.
The exact bundles the app sends are tested on a fork of Robinhood Chain against the live Morpho, Bundler3 and Uniswap contracts; the bundle builder is then broken on purpose to prove the tests notice; and the real page is clicked through with a test wallet.
What can go wrong
- Liquidation. If the oracle price falls to your liquidation price, anyone can repay your loan and take shares plus a bonus. Gage refuses loans within 10% of that line.
- Stale prices. Measured on a fork: the feeds for AAPL, NVDA, SPCX, GOOGL refuse a price older than 12–24 hours, so borrowing against them can pause while markets are shut. The app shows it live; repaying keeps working, and NVDA's second market uses a feed with no age limit.
- Thin markets. Most stock markets here are young. The table shows exactly how many dollars are free in each.
- Lender losses. If a stock gaps down faster than liquidators act, lenders in that one market absorb the shortfall.
What Gage never does
- Borrowing, repaying and lending go straight from your wallet to Morpho. No Gage contract touches them.
- Every approval is for the exact amount, never unlimited.
- Every transaction is simulated before your wallet is asked to sign it.
- Gage deploys no contract. Multiply's one-transaction bundles run on Morpho's own Bundler3 and GeneralAdapter1.
Plain answers.
What do I need to start?
A wallet such as Rabby or MetaMask (the app adds Robinhood Chain for you; on a phone, open Gage inside your wallet app's browser), and some ETH on Robinhood Chain — bring it in with the official bridge (about 10 minutes) or a faster route such as Relay. Then swap some ETH for USDG in the app's Trade tab, keeping a little for gas. No account, no sign-up.
How much can I borrow?
Each market has a fixed liquidation threshold — 62.5% of the collateral's value for most stocks here. Gage stops you at 90% of that line, so a new loan always starts with room to breathe, and it can never exceed the dollars the market has free.
Where does the price come from?
Each Morpho market has its own oracle, fixed when the market was created. Gage shows that oracle's price — the one that actually decides liquidation — next to the Uniswap pool price you'd trade at.
Is Multiply safe to use?
It adds leverage, and leverage cuts both ways: a 2× position loses twice as fast. The transaction runs on Morpho's own Bundler3 and GeneralAdapter1, which act only on the position of whoever sends it, and you can revoke their permission on Morpho at any time. Read how it works before using it.
Who runs Gage?
Nobody holds your money. The lending and the bundler are Morpho's, the trading is Uniswap, the savings vault is Steakhouse Financial's. Gage is this website — it deploys no contract of its own. Every address is in the docs.