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Trading Guide

Learn how to trade ZHE and STEAMED tokens on the Zhenglong platform.

Trading Overview​

Zhenglong offers two types of tokens for trading:

ZHE Tokens​

  • 1:1 price matching with underlying assets
  • Zero slippage on minting and redemption
  • Direct 1:1 price matching before fees
  • Fully collateralized
  • 24/7 trading

STEAMED Tokens​

  • Variable leverage exposure
  • Liquidation protection
  • Automated rebalancing
  • No funding fees

Getting Started​

1. Connect Your Wallet​

  1. Visit app.zhenglong.xyz
  2. Click "Connect Wallet"
  3. Choose your preferred wallet
  4. Approve connection

2. Choose Your Trading Pair​

  • Select from available ZHE tokens
  • Choose STEAMED tokens for leverage
  • View current prices and charts
  • Check liquidity and slippage

3. Place Your Trade​

  1. Enter trade amount
  2. Review price impact
  3. Approve token spending
  4. Confirm transaction

Trading Strategies​

ZHE Token Trading​

  1. Spot Trading

    • Buy and sell at current prices
    • Hold for price appreciation
    • Use in Defi or Stability pools

  2. Arbitrage

    • Monitor price differences
    • Execute cross-exchange trades
    • Capture price inefficiencies

STEAMED Token Trading​

  1. Leveraged Trading

    • Amplify returns with leverage
    • Use in Defi

  2. Hedging

    • Protect against price movements
    • Balance portfolio exposure
    • Reduce overall risk
  • Technical analysis
  • Fundamental analysis
  • Market sentiment
  • News and updates

Fees and Costs​

Trading Fees​

  • Dynamic Fee Structure

    • Fees are dynamically set based on market conditions and protocol health
    • ZHE token (pegged tokens) fees typically around 0.25% in normal conditions
    • STEAMED token (leverage tokens) fees typically around 1% in normal conditions
    • Fees can be adjusted lower, to zero, or even negative to incentivize certain behaviors (e.g., negative fees to increase demand for pegged token minting)

  • Variable Thresholds

    • The UI will always inform you of the exact fee you will pay before transaction confirmation
    • Larger transactions may cross different fee thresholds
    • In these cases, fees are applied pro-rata
    • Example: If a $20,000 trade moves the market from 0.25% to 0.3% fee threshold, part of the trade will be executed at 0.25% and the remainder at 0.3%

  • Network Costs

    • Gas fees for blockchain transactions

Support​

Need help with trading?

  • Join our Discord
  • Check our FAQ
  • Contact support team
  • Read trading guides