# JLP Yield Trading RateX allows users to trade yield via YT-JLP. In simple terms, it creates a liquidity pool for JLP yield trading, where liquidity providers deposit JLP into the pool. Based on this, they receive rebasing ST-JLP, which grows at the official APY rate, keeping its value aligned with JLP. ST-JLP is a token defined by RateX that grows based on the APY data published by Jupiter; it does not represent assets actually held by users. Therefore, in the AMM, YT-JLP is essentially priced based on ST-JLP. To simplify things for users, RateX maintains an exchange rate between ST-JLP and JLP based on the official APY data. As a result, for our users, the price of YT-JLP is still denominated in JLP. Additionally, liquidity providers can mint YT-JLP. RateX builds a YT/ST AMM pool for users. To leverage long YT, traders deposit margin (JLP), and the protocol creates ST-JLP for them to buy YT-JLP in the AMM. Conversely, to short YT, traders deposit JLP, and the protocol mints YT-JLP for them to buy ST-JLP. Currently, RateX offers up to 10x leverage on YT-JLP trading. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.rate-x.io/ratex/getting-started/jlp-yield-trading.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.