High Level Overview

To understand Multipli’s technical background better, let’s look at its components through a relatable real-world example - for instance, a ride-sharing app.

Terminology

admin	A multi-sig entity that registers new rides and activates the operation required for the different phases of the Multipli flow.
ride	A specific onchain strategy. A ride consists of the following parameters: an onchain Pool Manager contract a capital token a strategy token a ride ticket token The price and slippage for exchanging strategy tokens for capital tokens. The users can decide whether to join a ride based on these parameters.
capital token	The type of token that a user deploys into the strategy (BTC, ETH, etc.).
ride ticket	A temporary intermediate token that the user buys with their capital tokens. These tokens are redeemed for strategy tokens once staking is confirmed.
strategy token	A type of token that the user receives once staking is confirmed. These can be traded anytime at 1:1 of the base asset, using the onchain strategy smart contract.
passengers	Offchain users that have joined a ride, that is, they have signed the required transactions to participate in the ride.
defi-pooling operator	The staking operator

The Multipli contract proceeds in four phases:

1. Register a new ride

   A new ride is configured to execute a specific strategy at a specific price.

2. User onboarding

   Multiple users join a ride by buying ride tickets.

3. Ride execution

   The onchain Pool Manager smart contract withdraws the passengers' funds and trades them for strategy tokens. The trade succeeds only if the trading price is lower than or equal to the price defined in step 1.

4. User offboarding

   Passengers trade their ride ticket for strategy tokens.