What Is Multipli? How to Join the RWA-Collateralized Yield Protocol and the v2 Migration Timeline
What's happening
Multipli is a multichain RWA protocol that lets users borrow and generate yield using tokenized assets such as gold, stocks, and bitcoin as collateral. It has raised a cumulative $21.5 million from backers including Pantera Capital, Sequoia, Spartan Group, and Coinbase Ventures. The app is live and has over 90,000 users. No native token or airdrop has been announced yet. The official blog states that a migration from v1 to v2 is planned for July 8, 2026, and existing users may need to take action to accommodate this change.
What to do
- Go to app.multipli.fi and connect your wallet (free)
- Deposit supported assets (stablecoins, bitcoin, tokenized gold, etc.) to generate yield
- If you have a referral code, enter it to join the referral program
The bitcoin yield product is advertised at up to 8%. Decide your own deposit amount and duration.
Past seasons and distribution history
No publicly disclosed track record is available at this time. Token or airdrop allocation plans have not been announced.
Things to watch out for
- No auditor name or audit report is disclosed, so the claim of being "audited quarterly" cannot be independently verified
- The v1-to-v2 migration (planned for July 8, 2026) may require re-depositing assets or other actions
- Token design, allocation, and future dilution terms are unknown
- RWA collateral carries counterparty risk tied to custodians and issuers
- TVL on DefiLlama is around $37.1 million, which is still small relative to the $21.5 million raised
- A separate protocol called "Multiplier" also exists on DefiLlama—be careful not to confuse the two
Sources
RWA × Stablecoin Yield
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