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JLP Multiply positions can be unwound through two primary interfaces:
  1. Multiply UI
  2. Loan Dashboard UI
Each interface offers both one-click and manual solutions. Kamino charges no fees for any unwinding methods.
When JLP Pool caps are reached, JLP may trade at a premium on the market. The UI displays this via an “oracle price difference” warning.

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Unwinding Via Multiply UI

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One-Click Solution: Adjusting Leverage

Use the Adjust Leverage feature to reduce your leverage amount. This simultaneously decreases both debt and collateral, lowering your position LTV.

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Manual Solution: Manage Collateral & Debt

Execute these steps in sequence:
  • Withdraw collateral
  • Swap collateral into debt token (via Kamino’s in-app Swap)
  • Repay debt
Use Manage Collateral and Manage Debt functionalities.

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Unwinding Via Loan Dashboard

Access the Loan Dashboard by selecting it from the manage dropdown in Multiply.

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One-Click Solution: Repay With Collateral

Select Repay With Collateral when managing your debt token. This has identical impact to adjusting leverage in the Multiply UI—reducing debt and collateral simultaneously to lower LTV.

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Manual Solution: Manage Collateral & Debt

Follow the same three-step process:
  • Withdraw collateral
  • Swap into debt token
  • Repay debt
The UI displays a new LTV simulation when selecting your repay amount.