Supply a stock token, borrow USDG against it, swap back in, repeat — bundled through Morpho and Uniswap. We deploy no contracts and never hold your funds. The panel shows what the chain can fund right now, and what it costs you while the price feed is asleep.
Every figure is read from the chain and carries the moment it was read. If we cannot reach the chain you get an error, not a stale number.
The stock market is closed. The price feed is frozen at Friday's close and wakes Sunday 20:00 ET. Nothing can be liquidated until then, and the catch-up happens in one step.
| Moves | Price | Your equity | Return | LTV | Status |
|---|
Four ordinary actions, repeated until the exposure you asked for exists, executed in a single transaction. Move the lever and watch the spiral gain turns.
Supply. Your stock token goes into the Morpho market as collateral. Morpho holds it — we never do.
Borrow. USDG is borrowed against it, up to the market's loan-to-value limit.
Swap. That USDG buys more of the stock token on Uniswap, with a minimum-out enforced on every leg.
Repeat. The new tokens are supplied again. Each turn adds exposure and adds debt — which is why the spiral gets tighter to draw as you push the lever.
Eleven calls, simulated against a fork of the chain for a 1.5× position on $5,000. 513,865 gas, one signature. After execution the adapter, the bundler and the router all hold zero of both tokens.
For capital C at leverage L, collateral is C × L and debt is C × (L−1). The position is liquidated when debt over collateral value reaches the market's LLTV:
P_liq = P × (L − 1) ÷ (LLTV × L)
Nothing about that is ours — it falls straight out of Morpho's liquidation rule, and every number this panel prints can be checked against the chain.
Looping needs a lending market with spare USDG and a pool deep enough to buy through. Plenty of tickers have one without the other.
That is free-to-borrow, not pool depth. Swapping here is cheap — $50k moves AAPL 0.04%. What is scarce is USDG left to lend, two orders of magnitude tighter. It is the ceiling on every position this panel can build.
When the underlying pays a dividend or splits, the token count in your wallet stays the same. An on-chain multiplier changes how many shares each token represents, and the price feed already accounts for it. A tool that ignores that multiplier drifts, and nobody notices for weeks.
The addresses Uniswap uses on almost every other network hold a contract here that is not Uniswap.
It exposes recoverETH, transferTokensTo and recoverUSDT — a sweeper,
sitting where a careless copy-paste would send an approval. It has real bytecode, so a naive
"does the contract exist" check passes.
| Token | Price | Free to borrow | Borrow APY | Used | Swap pool | Status |
|---|
Read from the chain. Every stock market here runs at 62.5% LLTV.
This is the single most important fact about lending against tokenised stocks, and the reason this market is set up more conservatively than it could be.
The feeds update on a 0.5% move or every 24 hours, whichever comes first. But the heartbeat does not run while the stock market is closed. The feed stops Friday evening and restarts Sunday at 20:00 ET — the same time every week, checked across ten consecutive weekends.
| Asset | 11–13 Sep · frozen | jump | Labor Day · frozen | jump |
|---|---|---|---|---|
| AAPL | 52.2 h | −0.25% | 76.2 h | −0.06% |
| NVDA | 51.9 h | −1.12% | 78.2 h | +0.37% |
| SPCX | 48.3 h | −0.84% | 76.1 h | +0.93% |
| SPY | 59.1 h | −0.68% | 80.8 h | −0.08% |
| TSLA | 57.2 h | −1.09% | 77.8 h | +0.05% |
| GOOGL | 53.3 h | −0.59% | 81.6 h | +0.31% |
The freeze was shorter — 48 to 59 hours against 76 to 82 — and the jumps were three to twenty times larger. And all six moved down together. A gap that hits one ticker is a position problem. A gap that hits all six the same way is a portfolio problem, and spreading across these assets does not protect you: it is the same sleeping feed for every one of them.
Stablecoin collateral on this chain lends at 91.5% LLTV. Every live stock market sits at 62.5% — and the 86% variants that exist have never been funded by anyone. That gap of roughly 29 points is the market pricing exactly this problem. It also caps leverage at 2.67×, which is the price of the cushion.