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Use Cases

Zhenglong is more than just a synthetic asset protocol - it's a modular platform for transforming any real-world or on-chain price feed into a yield-bearing asset and variable leveraged token. Whether you're looking for stable returns, dynamic trading tools, or new ways to structure financial products, Zhenglong opens up a vast playground of possibilities that bridge TradFi and DeFi.

Let's explore some of the top use cases - and then zoom out to the bigger vision.

1. High-Yield Decentralized Stablecoins (e.g. zheUSD, zheEUR)​

  • Collateral: Yield-bearing crypto assets (e.g., stETH, cbETH, stUSDT)
  • zheTOKENS: Fiat-pegged (e.g., zheUSD)
  • steamedTOKEN: Leverage on the collateral side (e.g., long ETH vs USD)

Use Case: Deposit yield-generating collateral to mint stablecoins like zheUSD, then earn passive income through the Stability Pool. This makes zheUSD a compelling alternative to low-yield centralized stablecoins, ideal for DeFi-native savings.

2. High-Yield Synthetic ETH/BTC with USD Collateral (e.g. zheETH, zheBTC)​

  • Collateral: Yielding stablecoins (e.g., stUSDT, fxSAVE)
  • zheTOKENS: Pegged to ETH or BTC
  • steamedTOKEN: Short ETH or BTC (vs USD)

Use Case: Use stablecoin collateral to mint synthetic ETH/BTC, and earn yield while holding crypto exposure. The steamedTOKENS represent short positions on ETH or BTC, allowing traders to hedge or speculate on downside - without facing forced liquidations. Stablecoin yields are often much higher than staking yields on ETH, so stability pool depositors will likely enjoy much higher APRs on ETH or BTC than they are used to.

3. Synthetic Stocks & TradFi Exposure (e.g. zheTSM, zheMSTR)​

  • Collateral: BTC, ETH, or USD
  • zheTOKENS: Pegged to equities (e.g., Taiwan Semiconductor, MicroStrategy)
  • steamedTOKEN: Long crypto vs stock price

Use Case: Want exposure to stock prices on-chain? For example, mint zheMSTR using BTC to simulate MicroStrategy stock. Or take a steamedTOKEN long BTC vs MSTR - a common pair trade in hedge fund strategies.

Long-Term Vision​

Zhenglong aims to power a new wave of decentralized finance built around flexible, yield-aware, and data-driven synthetic assets.

Key Pillars of the Vision:​

  • Expanding Collateral & Oracles: More staked tokens, real-world assets, and oracle feeds will unlock new markets - from forex to commodities to index trackers.
  • Cross-Chain Growth: Zhenglong will deploy across multiple chains and rollups, becoming a modular financial layer wherever DeFi goes.
  • Protocol Integrations: zheTOKENS could serve as lending collateral, DEX base pairs, or underlying tokens for yield markets like Pendle. steamedTOKENS provide tools for investors, treasuries, hedge funds, or structured DeFi products.
  • Decentralized Governance: Over time, all decision-making will transition to STEAM and veSTEAM holders, who will shape everything from fees to new market launches.
  • Ecosystem & Community: With rewards for educators, builders, and advocates, Zhenglong will grow into an ecosystem - with its own dApps, analytics dashboards, and potentially new product lines.

In Summary​

Zhenglong aims to become the go-to engine for tokenizing any price feed - whether that's ETH, gold, Taiwan Semiconductor stock, or an on-chain KPI - and turning it into a DeFi-native asset that pays yield and offers leverage.

The future it envisions is one where:

  • Risk is sliced, priced, and distributed intelligently
  • Stable assets can grow in value
  • Leverage becomes safer and more transparent

It's DeFi for all market conditions - bull, bear, and everything in between.