LEO Token Price

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About LEO

UNUS SED LEO is a utility token that operates in the iFinex ecosystem. The token’s name is derived from a Latin quote in an Aesop’s fable. Bitfinex users can benefit from lower trading fees by holding LEO, with discounts spread over three tiers and varying by the type of trading pair. UNUS SED LEO was introduced in May 2019 and differs from other cryptocurrencies in that it has a limited lifespan.

LEO features a token burn mechanism, which means iFinex has made a commitment to buy back the tokens from the market on a monthly basis. The buyback amount will be equal to at least 27% of the revenues generated by iFinex and will be purchased at market rates. The token burn will continue until all tokens have been redeemed, according to a news release from the company.

The tokens were issued on two blockchains, with 64% of the original supply on Ethereum and 36% on EOS. This makes UNUS SED LEO unique compared to other cryptocurrencies that only launch on a single blockchain.

LEO Utility

The UNUS SED LEO token provides fee reductions for iFinex’s products and services, including taker fees, lending fees, and deposit and withdrawal fees. The discount is up to 25% and applies to Bitfinex and EOSfinex, with future iFinex platforms offering similar benefits. The fee reductions are applied in LEO tokens, if the trader has them, and high volume LEO holders ($50M average holding) can withdraw up to $2M without additional fees. Beyond $2M, a 2% fee applies instead of the standard 3%. There is also a token burn mechanism in place, where iFinex buys back LEO equal to at least 27% of its monthly revenue, to decrease the supply over time.