What is LEO?
UNUS SED LEO (LEO) is a utility token created for the iFinex ecosystem, mainly offering fee discounts on the Bitfinex trading platform. It features a deflationary model where tokens are regularly bought back and permanently removed from circulation using platform revenue.
- Utility-focused exchange token – Helps Bitfinex users save on trading fees and enjoy special perks.
- Deflationary tokenomics – iFinex uses part of its revenue to buy back and burn LEO tokens, reducing the total supply over time.
- Works across multiple blockchains – Runs on both Ethereum and EOS, allowing use in different blockchain environments.
Deep Dive
1. Purpose & Value Proposition
LEO was introduced in May 2019 by iFinex, the parent company of Bitfinex, as a way to recover from an $850 million financial loss after funds were seized from their payment processor, Crypto Capital. Unlike many cryptocurrencies that are mainly speculative, LEO is designed for practical use:
- Fee discounts: Traders holding LEO get reduced fees when trading crypto pairs or converting to stablecoins, with savings up to 25% depending on how many tokens they hold.
- Platform integration: LEO is closely connected to Bitfinex’s operations, encouraging users to hold tokens for ongoing benefits.
2. Tokenomics & Governance
LEO’s supply decreases over time through a revenue-based burn system:
- Monthly buybacks: iFinex commits at least 27% of its total revenue each month to buy LEO tokens on the open market.
- Transparency: The company publicly shares updates on buybacks and token burns, aiming to eventually remove all tokens from circulation.
- Fixed supply: The total number of LEO tokens is capped at 985 million, with about 922 million currently in circulation as of November 2025.
3. Ecosystem & Differentiation
- Multi-chain support: LEO operates on both Ethereum and EOS blockchains, making it usable across different platforms.
- Exclusive perks: Token holders enjoy benefits like lower withdrawal fees, better affiliate rewards, and access to special platform features.
- Focus on stability: Unlike many altcoins that aim for rapid price increases, LEO emphasizes steady value and practical use.
Conclusion
UNUS SED LEO is a practical utility token designed to support Bitfinex’s financial recovery while rewarding holders through fee discounts and a deflationary supply model. As the platform continues to generate revenue and burn tokens, it will be interesting to see if the shrinking supply keeps pace with changes in market demand.