- UNUS SED LEO (LEO) is a utility token within the iFinex ecosystem, primarily offering trading fee discounts on Bitfinex.
- UNUS SED LEO operates on both Ethereum and EOS blockchains, with a buyback mechanism that reduces supply over time.
UNUS SED LEO (LEO) is a utility token designed for use within the iFinex ecosystem, primarily on the Bitfinex exchange. The name, derived from Latin, translates to “one, but a lion,” inspired by Aesop’s fables.
What is UNUS SED LEO (LEO) Coin?
LEO serves as a utility token offering trading fee discounts to Bitfinex users. The discount percentage varies based on the amount of LEO held in an account, incentivizing users to hold the token for cost savings.
Brief History of UNUS SED LEO
Launched in May 2019, LEO was issued by Unus Sed Leo Limited, a subsidiary of iFinex. The token was introduced to cover financial shortfalls caused by funds held by the government in an alleged illegal transmission between Tether Inc. and Bitfinex. To compensate for the loss, iFinex launched an Initial Exchange Offering (IEO), raising $1 billion, with each LEO token pegged to 1 USDT.
LEO operates on both Ethereum (64% of supply) and EOS (36% of supply) blockchains. iFinex commits to repurchasing and burning tokens using 27% of its net profits each month until all tokens are removed from circulation.
