diff --git a/frontend/app/src/app/leverage/[collateral]/page.tsx b/frontend/app/src/app/multiply/[collateral]/page.tsx
similarity index 100%
rename from frontend/app/src/app/leverage/[collateral]/page.tsx
rename to frontend/app/src/app/multiply/[collateral]/page.tsx
diff --git a/frontend/app/src/app/leverage/layout.tsx b/frontend/app/src/app/multiply/layout.tsx
similarity index 100%
rename from frontend/app/src/app/leverage/layout.tsx
rename to frontend/app/src/app/multiply/layout.tsx
diff --git a/frontend/app/src/app/leverage/page.tsx b/frontend/app/src/app/multiply/page.tsx
similarity index 100%
rename from frontend/app/src/app/leverage/page.tsx
rename to frontend/app/src/app/multiply/page.tsx
diff --git a/frontend/app/src/comps/ActionCard/ActionCard.tsx b/frontend/app/src/comps/ActionCard/ActionCard.tsx
index c10599b12..e99732c5f 100644
--- a/frontend/app/src/comps/ActionCard/ActionCard.tsx
+++ b/frontend/app/src/comps/ActionCard/ActionCard.tsx
@@ -10,7 +10,7 @@ import { ActionIcon } from "./ActionIcon";
 export function ActionCard({
   type,
 }: {
-  type: "borrow" | "leverage" | "earn" | "stake";
+  type: "borrow" | "multiply" | "earn" | "stake";
 }) {
   const [hint, setHint] = useState(false);
   const [active, setActive] = useState(false);
@@ -44,15 +44,15 @@ export function ActionCard({
       path: "/borrow",
       title: ac.borrow.title,
     }))
-    .with("leverage", () => ({
+    .with("multiply", () => ({
       colors: {
         background: token("colors.brandGreen"),
         foreground: token("colors.brandGreenContent"),
         foregroundAlt: token("colors.brandGreenContentAlt"),
       },
-      description: ac.leverage.description,
-      path: "/leverage",
-      title: ac.leverage.title,
+      description: ac.multiply.description,
+      path: "/multiply",
+      title: ac.multiply.title,
     }))
     .with("earn", () => ({
       colors: {
diff --git a/frontend/app/src/comps/ActionCard/ActionIcon.tsx b/frontend/app/src/comps/ActionCard/ActionIcon.tsx
index 101259b82..bb7c699cf 100644
--- a/frontend/app/src/comps/ActionCard/ActionIcon.tsx
+++ b/frontend/app/src/comps/ActionCard/ActionIcon.tsx
@@ -24,12 +24,12 @@ export function ActionIcon({
     background: string;
     foreground: string;
   };
-  iconType: "borrow" | "leverage" | "earn" | "stake";
+  iconType: "borrow" | "multiply" | "earn" | "stake";
   state: IconProps["state"];
 }) {
   const Icon = match(iconType)
     .with("borrow", () => ActionIconBorrow)
-    .with("leverage", () => ActionIconLeverage)
+    .with("multiply", () => ActionIconLeverage)
     .with("earn", () => ActionIconEarn)
     .with("stake", () => ActionIconStake)
     .exhaustive();
diff --git a/frontend/app/src/comps/LeverageField/LeverageField.tsx b/frontend/app/src/comps/LeverageField/LeverageField.tsx
index 23e9ec781..18d5ad94e 100644
--- a/frontend/app/src/comps/LeverageField/LeverageField.tsx
+++ b/frontend/app/src/comps/LeverageField/LeverageField.tsx
@@ -115,7 +115,7 @@ export function LeverageField({
         ),
         end: (
           <HFlex gap={8}>
-            Leverage {
+            Multiply {
               <span
                 style={{
                   color: liquidationRisk === "high"
diff --git a/frontend/app/src/comps/Positions/NewPositionCard.tsx b/frontend/app/src/comps/Positions/NewPositionCard.tsx
index 4bd0fb59e..7f2ce10cb 100644
--- a/frontend/app/src/comps/Positions/NewPositionCard.tsx
+++ b/frontend/app/src/comps/Positions/NewPositionCard.tsx
@@ -19,15 +19,15 @@ const actionAttributes = {
     path: "/borrow",
     title: "Borrow",
   },
-  leverage: {
+  multiply: {
     colors: {
       background: token("colors.brandGreen"),
       foreground: token("colors.brandGreenContent"),
       foregroundAlt: token("colors.brandGreenContentAlt"),
     },
-    description: contentActions.leverage.description,
-    path: "/leverage",
-    title: "Leverage",
+    description: contentActions.multiply.description,
+    path: "/multiply",
+    title: "Multiply",
   },
   earn: {
     colors: {
diff --git a/frontend/app/src/comps/Positions/PositionCardLeverage.tsx b/frontend/app/src/comps/Positions/PositionCardLeverage.tsx
index c6db471d8..2270ef4be 100644
--- a/frontend/app/src/comps/Positions/PositionCardLeverage.tsx
+++ b/frontend/app/src/comps/Positions/PositionCardLeverage.tsx
@@ -65,7 +65,7 @@ export function PositionCardLeverage({
               color: "positionContent",
             })}
           >
-            <div>Leverage loan</div>
+            <div>Multiply position</div>
             {statusTag}
           </div>,
         ]}
diff --git a/frontend/app/src/comps/Positions/PositionCardLoan.tsx b/frontend/app/src/comps/Positions/PositionCardLoan.tsx
index 40da21afe..cc1bd464c 100644
--- a/frontend/app/src/comps/Positions/PositionCardLoan.tsx
+++ b/frontend/app/src/comps/Positions/PositionCardLoan.tsx
@@ -29,7 +29,7 @@ export function PositionCardLoan(
   const prefixedTroveId = getPrefixedTroveId(props.collIndex, props.troveId);
   const loanMode = storedState.loanModes[prefixedTroveId] ?? props.type;
 
-  const Card = loanMode === "leverage" ? PositionCardLeverage : PositionCardBorrow;
+  const Card = loanMode === "multiply" ? PositionCardLeverage : PositionCardBorrow;
 
   return (
     <Card
diff --git a/frontend/app/src/comps/Positions/Positions.tsx b/frontend/app/src/comps/Positions/Positions.tsx
index 3f193e770..149ba321d 100644
--- a/frontend/app/src/comps/Positions/Positions.tsx
+++ b/frontend/app/src/comps/Positions/Positions.tsx
@@ -118,7 +118,7 @@ function PositionsGroup({
         positions.map((position, index) => (
           match(position)
             .returnType<[number, ReactNode]>()
-            .with({ type: P.union("borrow", "leverage") }, (p) => [
+            .with({ type: P.union("borrow", "multiply") }, (p) => [
               index,
               <PositionCardLoan key={index} {...p} />,
             ])
@@ -145,7 +145,7 @@ function PositionsGroup({
       showNewPositionCard
         ? [
           [0, <ActionCard key="0" type="borrow" />],
-          [1, <ActionCard key="1" type="leverage" />],
+          [1, <ActionCard key="1" type="multiply" />],
           [2, <ActionCard key="2" type="earn" />],
           [3, <ActionCard key="3" type="stake" />],
         ]
diff --git a/frontend/app/src/comps/TopBar/TopBar.tsx b/frontend/app/src/comps/TopBar/TopBar.tsx
index 4ca491ec1..0fe1c357f 100644
--- a/frontend/app/src/comps/TopBar/TopBar.tsx
+++ b/frontend/app/src/comps/TopBar/TopBar.tsx
@@ -15,7 +15,7 @@ import { Menu } from "./Menu";
 const menuItems: ComponentProps<typeof Menu>["menuItems"] = [
   [content.menu.dashboard, "/", IconDashboard],
   [content.menu.borrow, "/borrow", IconBorrow],
-  [content.menu.leverage, "/leverage", IconLeverage],
+  [content.menu.multiply, "/multiply", IconLeverage],
   [content.menu.earn, "/earn", IconEarn],
   [content.menu.stake, "/stake", IconStake],
 ];
diff --git a/frontend/app/src/constants.ts b/frontend/app/src/constants.ts
index 4d5c201b4..72689fa15 100644
--- a/frontend/app/src/constants.ts
+++ b/frontend/app/src/constants.ts
@@ -43,9 +43,9 @@ export const MAX_COLLATERAL_DEPOSITS: Record<CollateralSymbol, dn.Dnum> = {
   RETH: dn.from(100_000_000n, 18),
 };
 
-// LTV factor suggestions, as ratios of the leverage factor range
+// LTV factor suggestions, as ratios of the multiply factor range
 export const LEVERAGE_FACTOR_SUGGESTIONS = [
-  norm(1.5, 1.1, 11), // 1.5x leverage with a 1.1x => 11x range
+  norm(1.5, 1.1, 11), // 1.5x multiply with a 1.1x => 11x range
   norm(2.5, 1.1, 11),
   norm(5, 1.1, 11),
 ];
diff --git a/frontend/app/src/content.tsx b/frontend/app/src/content.tsx
index 3410de1d7..927433e47 100644
--- a/frontend/app/src/content.tsx
+++ b/frontend/app/src/content.tsx
@@ -11,7 +11,7 @@ export default {
   menu: {
     dashboard: "Dashboard",
     borrow: "Borrow",
-    leverage: "Leverage",
+    multiply: "Multiply",
     earn: "Earn",
     stake: "Stake",
   },
@@ -194,8 +194,8 @@ export default {
         title: "Borrow BOLD",
         description: "Set your own interest rate and borrow BOLD against ETH and staked ETH.",
       },
-      leverage: {
-        title: "Leverage ETH",
+      multiply: {
+        title: "Multiply ETH",
         description: "Set your own interest rate and increase your exposure to ETH and staked ETH.",
       },
       earn: {
@@ -256,11 +256,11 @@ export default {
     },
   },
 
-  // Leverage screen
+  // Multiply screen
   leverageScreen: {
     headline: (tokensIcons: N) => (
       <>
-        Leverage your exposure to {tokensIcons}
+        Multiply your exposure to {tokensIcons}
       </>
     ),
     depositField: {
@@ -275,7 +275,7 @@ export default {
     action: "Next: Summary",
     infoTooltips: {
       leverageLevel: [
-        "Leverage level",
+        "Multiply level",
         <>
           Choose the amplification of your exposure. Note that a higher level means higher liquidation risk. You are
           responsible for your own assessment of what a suitable level is.
diff --git a/frontend/app/src/demo-mode/demo-data.ts b/frontend/app/src/demo-mode/demo-data.ts
index b8e0621b0..e08b5e23b 100644
--- a/frontend/app/src/demo-mode/demo-data.ts
+++ b/frontend/app/src/demo-mode/demo-data.ts
@@ -44,7 +44,7 @@ export const ACCOUNT_POSITIONS: Exclude<Position, PositionLoanUncommitted>[] = [
     updatedAt: getTime(),
   },
   {
-    type: "leverage",
+    type: "multiply",
     status: "active",
     borrowed: dn.from(28_934.23, 18),
     borrower: DEMO_ACCOUNT,
diff --git a/frontend/app/src/liquity-leverage.ts b/frontend/app/src/liquity-leverage.ts
index 493c83a88..e22b578d0 100644
--- a/frontend/app/src/liquity-leverage.ts
+++ b/frontend/app/src/liquity-leverage.ts
@@ -58,7 +58,7 @@ export async function getLeverUpTroveParams(
 
   const leverageRatio = BigInt(leverageFactor * 1000) * DECIMAL_PRECISION / 1000n;
   if (leverageRatio <= currentLR) {
-    throw new Error(`Leverage ratio should increase: ${leverageRatio} <= ${currentLR}`);
+    throw new Error(`Multiply ratio should increase: ${leverageRatio} <= ${currentLR}`);
   }
 
   const currentCollAmount = troveData.entireColl;
@@ -117,7 +117,7 @@ export async function getLeverDownTroveParams(
 
   const leverageRatio = BigInt(leverageFactor * 1000) * DECIMAL_PRECISION / 1000n;
   if (leverageRatio >= currentLR) {
-    throw new Error(`Leverage ratio should decrease: ${leverageRatio} >= ${currentLR}`);
+    throw new Error(`Multiply ratio should decrease: ${leverageRatio} >= ${currentLR}`);
   }
 
   const currentCollAmount = troveData.entireColl;
diff --git a/frontend/app/src/screens/HomeScreen/HomeScreen.tsx b/frontend/app/src/screens/HomeScreen/HomeScreen.tsx
index 9fd95795a..44bb22c3a 100644
--- a/frontend/app/src/screens/HomeScreen/HomeScreen.tsx
+++ b/frontend/app/src/screens/HomeScreen/HomeScreen.tsx
@@ -138,7 +138,7 @@ function BorrowingRow({
             />
           </Link>
           <Link
-            href={`/leverage/${symbol.toLowerCase()}`}
+            href={`/multiply/${symbol.toLowerCase()}`}
             legacyBehavior
             passHref
           >
@@ -152,7 +152,7 @@ function BorrowingRow({
                     fontSize: 14,
                   })}
                 >
-                  Leverage
+                  Multiply
                   <TokenIcon symbol={symbol} size="mini" />
                 </div>
               }
diff --git a/frontend/app/src/screens/LeverageScreen/LeverageScreen.tsx b/frontend/app/src/screens/LeverageScreen/LeverageScreen.tsx
index d4042e0ab..4eff0f6c3 100644
--- a/frontend/app/src/screens/LeverageScreen/LeverageScreen.tsx
+++ b/frontend/app/src/screens/LeverageScreen/LeverageScreen.tsx
@@ -125,7 +125,7 @@ export function LeverageScreen() {
   );
 
   const newLoan: PositionLoanUncommitted = {
-    type: "leverage",
+    type: "multiply",
     status: "active",
     batchManager: interestRateDelegate,
     borrowed: leverageField.debt ?? dn.from(0, 18),
diff --git a/frontend/app/src/screens/LoanScreen/LoanScreen.tsx b/frontend/app/src/screens/LoanScreen/LoanScreen.tsx
index a40714aae..9027dd148 100644
--- a/frontend/app/src/screens/LoanScreen/LoanScreen.tsx
+++ b/frontend/app/src/screens/LoanScreen/LoanScreen.tsx
@@ -117,7 +117,7 @@ export function LoanScreen() {
               return {
                 loanModes: {
                   ...loanModes,
-                  [paramPrefixedId]: loanMode === "borrow" ? "leverage" : "borrow",
+                  [paramPrefixedId]: loanMode === "borrow" ? "multiply" : "borrow",
                 },
               };
             });
@@ -195,7 +195,7 @@ export function LoanScreen() {
                         }}
                       />
                       {action === "colldebt" && (
-                        loanMode === "leverage"
+                        loanMode === "multiply"
                           ? <PanelUpdateLeveragePosition loan={loan.data} />
                           : <PanelUpdateBorrowPosition loan={loan.data} />
                       )}
diff --git a/frontend/app/src/screens/LoanScreen/LoanScreenCard.tsx b/frontend/app/src/screens/LoanScreen/LoanScreenCard.tsx
index 84cd1d6c5..dc34cd3b0 100644
--- a/frontend/app/src/screens/LoanScreen/LoanScreenCard.tsx
+++ b/frontend/app/src/screens/LoanScreen/LoanScreenCard.tsx
@@ -37,7 +37,7 @@ import * as dn from "dnum";
 import Image from "next/image";
 import { match, P } from "ts-pattern";
 
-type LoanMode = "borrow" | "leverage";
+type LoanMode = "borrow" | "multiply";
 
 export function LoanScreenCard({
   collateral,
@@ -84,7 +84,7 @@ export function LoanScreenCard({
   );
 
   const nftUrl = useTroveNftUrl(loan?.collIndex ?? null, troveId);
-  const title = mode === "leverage" ? "Leverage loan" : "BOLD loan";
+  const title = mode === "multiply" ? "Multiply" : "BOLD loan";
 
   const fullyRedeemed = loan && loan.status === "redeemed" && dn.eq(loan.borrowed, 0);
 
@@ -257,7 +257,7 @@ function LoanCardHeading({
           color: inheritColor ? "inherit" : "var(--color-alt)",
         }}
       >
-        {mode === "leverage"
+        {mode === "multiply"
           ? <IconLeverage size={16} />
           : <IconBorrow size={16} />}
       </div>
@@ -397,7 +397,7 @@ function LoanCard({
         troveId,
         nftUrl,
       }) => {
-        const title = mode === "leverage" ? "Leverage loan" : "BOLD loan";
+        const title = mode === "multiply" ? "Multiply" : "BOLD loan";
         return (
           <a.div
             className={css({
@@ -507,14 +507,14 @@ function LoanCard({
                                 color: "accent",
                               })}
                             >
-                              {mode === "leverage"
+                              {mode === "multiply"
                                 ? <IconBorrow size={16} />
                                 : <IconLeverage size={16} />}
                             </div>
                           ),
-                          label: mode === "leverage"
+                          label: mode === "multiply"
                             ? "Convert to BOLD loan"
-                            : "Convert to leverage loan",
+                            : "Convert to Multiply position",
                         },
                         {
                           icon: (
@@ -577,7 +577,7 @@ function LoanCard({
                       selected={0}
                       onSelect={(index) => {
                         if (index === 0) {
-                          onLeverageModeChange(mode === "leverage" ? "borrow" : "leverage");
+                          onLeverageModeChange(mode === "multiply" ? "borrow" : "multiply");
                         }
                         if (index === 1) {
                           navigator.clipboard.writeText(window.location.href);
@@ -608,7 +608,7 @@ function LoanCard({
                       gap: 12,
                     })}
                   >
-                    {mode === "leverage"
+                    {mode === "multiply"
                       ? (
                         <div
                           title={`${fmtnum(loan.deposit, "full")} ${collateral}`}
@@ -630,7 +630,7 @@ function LoanCard({
                             <div>
                               <Value
                                 negative={loanDetails.status === "underwater" || loanDetails.status === "liquidatable"}
-                                title={`Leverage factor: ${
+                                title={`Multiply factor: ${
                                   loanDetails.status === "underwater" || leverageFactor === null
                                     ? INFINITY
                                     : `${roundToDecimal(leverageFactor, 3)}x`
@@ -668,7 +668,7 @@ function LoanCard({
                       color: "positionContentAlt",
                     })}
                   >
-                    {mode === "leverage" ? "Total exposure" : "Total debt"}
+                    {mode === "multiply" ? "Total exposure" : "Total debt"}
                   </div>
                 </div>
               </div>
@@ -681,7 +681,7 @@ function LoanCard({
                       gap: 12,
                     })}
                   >
-                    <GridItem label={mode === "leverage" ? "Net value" : "Collateral"}>
+                    <GridItem label={mode === "multiply" ? "Net value" : "Collateral"}>
                       {fmtnum(loan.deposit)} {collateral.name}
                     </GridItem>
                     <GridItem label="Interest rate">
@@ -704,7 +704,7 @@ function LoanCard({
                       gap: 12,
                     })}
                   >
-                    <GridItem label={mode === "leverage" ? "Net value" : "Collateral"}>N/A</GridItem>
+                    <GridItem label={mode === "multiply" ? "Net value" : "Collateral"}>N/A</GridItem>
                     <GridItem label="Liq. price" title="Liquidation price">N/A</GridItem>
                     <GridItem label="Interest rate">N/A</GridItem>
                     <GridItem label="LTV" title="Loan-to-value ratio">N/A</GridItem>
@@ -730,7 +730,7 @@ function LoanCard({
                       gap: 12,
                     })}
                   >
-                    {mode === "leverage"
+                    {mode === "multiply"
                       ? (
                         <GridItem label="Net value">
                           <Value
diff --git a/frontend/app/src/screens/LoanScreen/PanelUpdateLeveragePosition.tsx b/frontend/app/src/screens/LoanScreen/PanelUpdateLeveragePosition.tsx
index 9ea5e2d39..6c6332390 100644
--- a/frontend/app/src/screens/LoanScreen/PanelUpdateLeveragePosition.tsx
+++ b/frontend/app/src/screens/LoanScreen/PanelUpdateLeveragePosition.tsx
@@ -316,7 +316,7 @@ export function PanelUpdateLeveragePosition({
               ),
             },
             {
-              start: <Field.FooterInfo label="Leverage" />,
+              start: <Field.FooterInfo label="Multiply" />,
               end: (
                 <ValueUpdate
                   fontSize={14}
diff --git a/frontend/app/src/screens/TransactionsScreen/LoanCard.tsx b/frontend/app/src/screens/TransactionsScreen/LoanCard.tsx
index eeb9a03df..9c1380ede 100644
--- a/frontend/app/src/screens/TransactionsScreen/LoanCard.tsx
+++ b/frontend/app/src/screens/TransactionsScreen/LoanCard.tsx
@@ -508,7 +508,7 @@ function LeveragedExposure({
           >
             <Value
               negative={loanDetails.status === "underwater" || loanDetails.status === "liquidatable"}
-              title={`Leverage factor: ${
+              title={`Multiply factor: ${
                 loanDetails.status === "underwater" || loanDetails.leverageFactor === null
                   ? INFINITY
                   : `${roundToDecimal(loanDetails.leverageFactor, 3)}x`
@@ -555,7 +555,7 @@ function LoadingCard({
   onRetry: () => void;
   txPreviewMode?: boolean;
 }) {
-  const title = leverage ? "Leverage loan" : "BOLD loan";
+  const title = leverage ? "Multiply" : "BOLD loan";
 
   const spring = useSpring({
     to: match(loadingState)
diff --git a/frontend/app/src/services/StoredState.tsx b/frontend/app/src/services/StoredState.tsx
index aae1fb282..c0ff86199 100644
--- a/frontend/app/src/services/StoredState.tsx
+++ b/frontend/app/src/services/StoredState.tsx
@@ -14,7 +14,7 @@ export const StoredStateSchema = v.object({
     vPrefixedTroveId(),
     v.union([
       v.literal("borrow"),
-      v.literal("leverage"),
+      v.literal("multiply"),
     ]),
   ),
 });
diff --git a/frontend/app/src/subgraph-hooks.ts b/frontend/app/src/subgraph-hooks.ts
index d8c6945b1..d215ebfe9 100644
--- a/frontend/app/src/subgraph-hooks.ts
+++ b/frontend/app/src/subgraph-hooks.ts
@@ -419,7 +419,7 @@ function subgraphTroveToLoan(
   }
 
   return {
-    type: trove.mightBeLeveraged ? "leverage" : "borrow",
+    type: trove.mightBeLeveraged ? "multiply" : "borrow",
     batchManager: isAddress(trove.interestBatch?.batchManager)
       ? trove.interestBatch.batchManager
       : null,
diff --git a/frontend/app/src/tx-flows/openLeveragePosition.tsx b/frontend/app/src/tx-flows/openLeveragePosition.tsx
index 52c95da13..e2d8b5a19 100644
--- a/frontend/app/src/tx-flows/openLeveragePosition.tsx
+++ b/frontend/app/src/tx-flows/openLeveragePosition.tsx
@@ -205,7 +205,7 @@ export const openLeveragePosition: FlowDeclaration<Request, Step> = {
     if (stepId === "approveLst") {
       return `Approve ${collateral.name ?? ""}`;
     }
-    return "Open Leveraged Position";
+    return "Open Multiply Position";
   },
 
   parseRequest(request) {
diff --git a/frontend/app/src/tx-flows/updateLeveragePosition.tsx b/frontend/app/src/tx-flows/updateLeveragePosition.tsx
index 52676dcc0..a52472b55 100644
--- a/frontend/app/src/tx-flows/updateLeveragePosition.tsx
+++ b/frontend/app/src/tx-flows/updateLeveragePosition.tsx
@@ -39,12 +39,12 @@ const RequestSchema = v.object({
   // set to null to indicate no deposit change
   depositChange: v.union([v.null(), vDnum()]),
 
-  // set to null to indicate no leverage change
+  // set to null to indicate no multiply change
   leverageFactorChange: v.union([
     v.null(),
     v.tuple([
-      v.number(), // prev leverage
-      v.number(), // new leverage
+      v.number(), // prev multiply
+      v.number(), // new multiply
     ]),
   ]),
 
@@ -65,8 +65,8 @@ const stepNames: Record<Step, string> = {
   approveLst: "Approve {tokenName}",
   decreaseDeposit: "Decrease Deposit",
   increaseDeposit: "Increase Deposit",
-  leverDownTrove: "Decrease Leverage",
-  leverUpTrove: "Increase Leverage",
+  leverDownTrove: "Decrease Multiplier",
+  leverUpTrove: "Increase Multiplier",
 };
 
 export const updateLeveragePosition: FlowDeclaration<Request, Step> = {
@@ -152,7 +152,7 @@ export const updateLeveragePosition: FlowDeclaration<Request, Step> = {
         )}
         {leverageFactorChange && (
           <TransactionDetailsRow
-            label={isBorrowing ? "Leverage increase" : "Leverage decrease"}
+            label={isBorrowing ? "Multiply increase" : "Multiply decrease"}
             value={[
               <div key="start">
                 {fmtnum(leverageFactorChange[1] - leverageFactorChange[0], {
@@ -161,7 +161,7 @@ export const updateLeveragePosition: FlowDeclaration<Request, Step> = {
                 })}x
               </div>,
               <div key="end">
-                {fmtnum(leverageFactorChange[1], 2)}x leverage
+                {fmtnum(leverageFactorChange[1], 2)}x multiply
               </div>,
             ]}
           />
diff --git a/frontend/app/src/types.ts b/frontend/app/src/types.ts
index df4936e43..feb2a3d18 100644
--- a/frontend/app/src/types.ts
+++ b/frontend/app/src/types.ts
@@ -40,10 +40,10 @@ export type MenuSection = {
 };
 
 export type PositionLoanBase = {
-  // TODO: rename the type to "loan" and move "borrow" | "leverage" to
+  // TODO: rename the type to "loan" and move "borrow" | "multiply" to
   // a "mode" field. The two separate types come from a previous design
   // where the two types of positions were having separate types.
-  type: "borrow" | "leverage";
+  type: "borrow" | "multiply";
   batchManager: null | Address;
   borrowed: Dnum;
   borrower: Address;
@@ -70,7 +70,7 @@ export type PositionLoanUncommitted = PositionLoanBase & {
 export type PositionLoan = PositionLoanCommitted | PositionLoanUncommitted;
 
 export function isPositionLoan(position: Position): position is PositionLoan {
-  return position.type === "borrow" || position.type === "leverage";
+  return position.type === "borrow" || position.type === "multiply";
 }
 export function isPositionLoanCommitted(
   position: Position,
diff --git a/frontend/app/src/valibot-utils.ts b/frontend/app/src/valibot-utils.ts
index 206116e36..2e731791e 100644
--- a/frontend/app/src/valibot-utils.ts
+++ b/frontend/app/src/valibot-utils.ts
@@ -151,7 +151,7 @@ export function vPositionStake() {
 const VPositionLoanBase = v.object({
   type: v.union([
     v.literal("borrow"),
-    v.literal("leverage"),
+    v.literal("multiply"),
   ]),
   batchManager: v.union([v.null(), vAddress()]),
   borrowed: vDnum(),
diff --git a/frontend/uikit-gallery/src/InputField/shared.tsx b/frontend/uikit-gallery/src/InputField/shared.tsx
index 46e121983..5b5e7b34b 100644
--- a/frontend/uikit-gallery/src/InputField/shared.tsx
+++ b/frontend/uikit-gallery/src/InputField/shared.tsx
@@ -49,7 +49,7 @@ export function InputFieldFixture({
   const labelEnd = match(fixture)
     .with("slider", () => (
       <span>
-        Leverage{" "}
+        Multiply{" "}
         <span
           style={{
             color: leverage > 4 ? "#F36740" : "#2F3037",