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STEAM Token Overview

STEAM is the native governance, incentive, and revenue-sharing token of the Zhenglong ecosystem. It plays a central role in coordinating the protocol's growth, securing market health, and rewarding community participation.

Overview​

STEAM turns users, builders, and liquidity providers into long-term stakeholders aligned with Zhenglong's success through multiple utilities:

  • Governance power through veSTEAM (vote-escrowed STEAM)
  • Boosting rewards in Stability Pools and liquidity provision
  • Protocol revenue sharing and redistribution
  • Control over emissions and incentives via gauge voting
  • Alignment of long-term interests with the protocol's success

Token Utilities​

1. Governance Power (veSTEAM)​

STEAM holders who lock their tokens as veSTEAM gain the ability to:

  • Vote on new incentivized market launches
  • Direct incentive emissions toward Stability Pools, liquidity pools, or strategic initiatives
  • Influence protocol parameters like minimum collateral ratios and fee structures
  • Direct protocol revenue
  • Participate in gauge voting to determine where incentives flow

The longer the STEAM is locked, the more veSTEAM is received, and the greater the governance power.

2. Boosted Rewards​

  • veSTEAM holders receive boosted returns on Stability Pool deposits and liquidity provision
  • Lock duration affects boost multipliers - longer locks provide greater benefits
  • Enhance yields across all protocol participation
  • Access premium features and advance governance weight

3. Revenue Sharing​

  • Portions of protocol revenue — including minting fees, redemption fees, and yield from yield-bearing collateral — are shared with veSTEAM lockers
  • veSTEAM holders can vote on directing fee allocation
  • Revenue increases with protocol adoption and usage
  • Provides sustainable, non-inflationary returns

4. Gauge Voting System​

  • Governance is conducted through a gauge voting model
  • veSTEAM holders vote on how emissions are distributed across different Stability Pools and markets
  • Dynamically allocates incentives based on community priorities and market demand
  • Enables flexible adaptation to changing market conditions