LEO (Unus Sed Leo) is a utility token launched by iFinex in 2019 on Ethereum and EOS blockchains. More
| Fully Diluted Valuation | $9.49B |
|---|---|
| 24H Trading Volume | $1.40M |
| 24H Low / High | $9.53 / $ 9.65 |
| Circulating Supply | 923.04 M |
| Total Supply | 985.24 M |
| Max Supply | ∞ |
| Categories | Exchange-based Tokens 3 more |
|---|---|
| Founder | iFinex |
| Website | bitfinex.com Whitepaper |
| Socials | 1 more |
| Chains | Ethereum Ecosystem 1 more |
| Explorer | Blockchair 4 more |
| Contracts |
0x2af....12ca3
1 more
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| Name | Pair | OG Score |
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Unus Sed Leo (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.
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.
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.
iFinex is the founder of Leo.
You can buy LEO Token (LEO) on OKX, Gate.io, BitMart, DigiFinexAscendEX (BitMax) cryptocurrency exchanges.
