Market Data & Token Stats
| Fully Diluted Valuation | $10.14B |
|---|---|
| 24H Trading Volume | $575,376 |
| 24H Low / High | $10.13 / $10.38 |
| Circulating Supply | 920.78M |
| Total Supply | 985.24M |
| Max Supply | ∞ |
Key Project Information
| Categories | Exchange-based Tokens 3 more |
|---|---|
| Founder | iFinex 1 more |
| Website | bitfinex.com Whitepaper |
| Socials | 1 more |
| Chains | Ethereum Ecosystem 1 more |
| Explorer | Eosflare 3 more |
| Contracts |
0x2af....12ca3
1 more
|
OGAudit Security Evaluation & Social Audit Metrics
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LEO Token (leo) Expert User Reviews
Is LEO Token safe or a scam? Read verified Crypto OG reviews about LEO Token
$leo Markets
| Name | Pair | OG Score |
|---|
About LEO Token
Unus Sed Leo/ LEO Token (LEO) stands out in the world of cryptocurrencies with its distinctive features and innovative tokenomics. Launched in 2019 by iFinex, a Hong Kong-based corporation, LEO serves as a utility token supporting the ecosystem of Bitfinex, one of iFinex's key projects. IFinex is the parent company of Bitfinex.
Dual Blockchain Launch
What sets LEO apart is its dual blockchain launch. While 64% of the initial supply resides on the Ethereum blockchain, the remaining 36% is hosted on EOS. This dual protocol launch was described as "unique" by the company, emphasizing its commitment to empowering the Bitfinex community.
Token Burn Mechanism
An aspect of LEO's tokenomics is the monthly token burn mechanism. iFinex is dedicated to buying back LEO tokens from the market, with the quantity purchased and burned equivalent to at least 27% of the revenues generated by the company. This burn mechanism will persist until 100% of the tokens have been redeemed, showcasing a commitment to gradually reduce the circulating supply.
Limited Supply and Initial Offering
The total supply of LEO tokens was initially set at 1 billion, with a unique approach to the initial offering. LEO was sold for $1 each on a 1:1 basis with the Tether stablecoin, resulting in a total of $1 billion raised over a 10-day period. The launch comprised 660 million ERC-20 tokens and 340 million EOS-based tokens, allowing for seamless conversions between the two chains on Bitfinex.
Utility and Discounts
LEO's utility is crystal clear, primarily supporting Bitfinex to cover deficits and reduce platform user expenses. Token holders enjoy a 15% discount on cryptocurrency trading fees, adding tangible value for participants. Additionally, LEO holders gain exclusive perks and privileges when utilizing various iFinex services, such as Ethfinex Trustless, Eosfinex, Dazaar and more.
Origins and Unique Tokenomics Model
The creation of LEO stemmed from the aftermath of Bitfinex's $850 million loss in 2018 due to the collapse of Crypto Capital, a payment services provider. In response, iFinex devised a unique tokenomics model to regain its reputation and compensate for financial losses. The result was the LEO token, which was introduced through a private sale via an initial exchange offering (IEO), attracting investors interested in supporting Bitfinex's recovery.
Conclusion
Unus Sed Leo (LEO) stands as a testament to innovation in the cryptocurrency space. With a dual blockchain launch, a monthly token burn mechanism and tangible benefits for holders, LEO exemplifies a unique approach to utility tokens. As iFinex continues its commitment to token redemption, LEO remains a symbol of resilience, offering advantages to both Bitfinex and its dedicated community.
Unus Sed Leo (LEO) was created as a response to Bitfinex's significant loss of $850 million in 2018 due to the collapse of Crypto Capital. The unique tokenomics model, leading to the creation of LEO, aimed to compensate for these losses and regain Bitfinex's reputation.
What is the dual-blockchain functionality of LEO Token $LEO and why is it significant?
LEO Token $LEO leverages both Ethereum and EOSIO blockchains, offering users flexibility, faster transactions and enhanced interoperability within the iFinex ecosystem.
How does the token burn mechanism of LEO Token $LEO contribute to its deflationary model?
The token burn mechanism uses 27 percent of iFinex’s consolidated revenues to repurchase and burn LEO Token $LEO, which decreases supply and drives long-term value creation.
What role does LEO Token $LEO play in reducing Bitfinex platform fees?
LEO Token $LEO provides discounts on trading fees, withdrawal charges and lending fees, which scale based on the quantity of the token held by users.
What are the strategic advantages of the revenue allocation model in LEO Token $LEO?
iFinex allocates funds recovered from specific legal proceedings and other activities exclusively for buying back and burning LEO Token $LEO, ensuring sustained demand and diminishing supply.
What makes LEO Token $LEO attractive for institutional investors and high-frequency traders?
LEO Token $LEO offers fee reductions on high-volume trading activities, making it particularly appealing to institutional investors and high-frequency traders seeking cost efficiency.
What is the relevance of community-driven incentives in the LEO Token $LEO framework?
LEO Token $LEO incentivizes holders and active users through loyalty programs and platform-wide benefits, fostering sustained community engagement in the iFinex ecosystem
What is unique about LEO Token (LEO)?
Unus Sed Leo (LEO) stands out for its innovative token burn mechanism, where iFinex commits to buying back and burning at least 27% of the tokens using its revenues every month. This process continues until 100% of the tokens have been redeemed, distinguishing LEO from other cryptocurrencies.
Who are the founders of LEO Token (LEO)?
iFinex is the founder of Leo.
Where can I buy LEO Token (LEO)?
You can buy LEO Token (LEO) on OKX, Gate.ioBitfinexXT.COMAscendEX (previously BitMax) cryptocurrency exchanges.
Information in this section carefully collected and curated from publicly available data from official sources, including the LEO Token Official Website, LEO Token Whitepaper and LEO Token X (Twitter) Account.
The information presented on this page is created and published by the OGAudit Editorial Team for educational and informational purposes. It should NOT be construed as an endorsement, or as legal, or investment advice. If you believe any content on this page is outdated or incorrect, please feel free to contact us for updates and corrections.
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