UNUS SED LEO[LEO]
UNUS SED LEO is a utility token for iFinex platforms, offering fee discounts and exclusive benefits its users.
UNUS SED LEO, meaning "One, but a lion" in Latin, is a token that powers the iFinex ecosystem, which includes the crypto exchange Bitfinex. Launched in May 2019, iFinex raised $1 billion through an initial offering of the token. LEO holders benefit from trading discounts across iFinex platforms, such as Bitfinex and EOSfinex.
Bitfinex, established in 2012, has faced multiple challenges, including platform hacks and accusations of concealing an $850 million loss through reserves from Tether (USDT), another iFinex-owned entity. In response to these financial controversies, iFinex created the UNUS SED LEO token to recover the lost funds.
The company committed to gradually buying back and burning LEO tokens from the market to reduce their supply, ensuring transparency through a public initiative. The token burn mechanism involves using 27% of Bitfinex's monthly revenue from transaction fees to repurchase and destroy LEO tokens, with the goal of eventually removing all tokens from circulation.
What sets LEO apart is its dual blockchain issuance on Ethereum (64%) and EOS (36%). This unique structure, along with its token burn mechanism and discounts for holders on iFinex platforms, ensures that LEO users benefit from lower fees and service multipliers. The burn process is designed to reduce the supply over time, boosting the value of the remaining tokens.
Bitfinex, established in 2012, has faced multiple challenges, including platform hacks and accusations of concealing an $850 million loss through reserves from Tether (USDT), another iFinex-owned entity. In response to these financial controversies, iFinex created the UNUS SED LEO token to recover the lost funds.
The company committed to gradually buying back and burning LEO tokens from the market to reduce their supply, ensuring transparency through a public initiative. The token burn mechanism involves using 27% of Bitfinex's monthly revenue from transaction fees to repurchase and destroy LEO tokens, with the goal of eventually removing all tokens from circulation.
What sets LEO apart is its dual blockchain issuance on Ethereum (64%) and EOS (36%). This unique structure, along with its token burn mechanism and discounts for holders on iFinex platforms, ensures that LEO users benefit from lower fees and service multipliers. The burn process is designed to reduce the supply over time, boosting the value of the remaining tokens.
Exchange TokenCEXCeFi
Current price
24h:0.0903%Market cap
Trading volume 24h
Fully diluted market cap
All time high price
2.15%All time low price
1,116.61%Token supply
0 LEO (0%)
985.24M LEO (100%)
$1
$9.73
$0
$9.59B
924.1M LEO (93.79%)