What is LEO?
UNUS SED LEO (LEO) is a utility token created for the iFinex ecosystem. It mainly offers holders benefits like lower trading fees on the Bitfinex exchange and uses a special deflationary model to reduce the number of tokens over time.
- Utility token for iFinex – Launched in May 2019, LEO was designed to help Bitfinex recover from financial challenges and gives users perks such as discounted trading fees.
- Deflationary design – iFinex uses part of its revenue to buy back and permanently remove (burn) LEO tokens, which lowers the total supply gradually.
- Built on multiple blockchains – LEO was initially issued on both Ethereum and EOS blockchains, allowing users to move tokens between these networks.
Deep Dive
1. Purpose & Value
LEO was created by iFinex, the company behind Bitfinex, to help recover from a major financial loss in 2018 (CoinMarketCap). Its main purpose is to provide real benefits within the iFinex platform. For example, holders get discounts on trading, lending, and withdrawal fees on Bitfinex. The size of the discount depends on how many LEO tokens a user holds, linking the token’s value directly to platform use.
2. Tokenomics & How It Works
Unlike many cryptocurrencies that exist indefinitely, LEO is designed to become scarcer over time. iFinex commits at least 27% of its monthly revenue to buy back LEO tokens from the market and permanently destroy them. This “buyback-and-burn” process reduces the number of tokens available, which can increase their value. The token started with a total supply of 1 billion but is expected to decrease as tokens are burned. Also, LEO operates on both Ethereum and EOS blockchains, giving users flexibility.
3. Ecosystem & Meaning
LEO’s main use is on the Bitfinex exchange, but it’s also being integrated into other iFinex services. The name “UNUS SED LEO” means “one, but a lion” in Latin, inspired by Aesop’s fables. This symbolizes strength and resilience, reflecting the token’s role as a stable, useful asset within its ecosystem.
Conclusion
In short, UNUS SED LEO is a utility token whose value depends on the success and revenue of the iFinex ecosystem. Its built-in mechanism to reduce supply over time supports its value. As the iFinex platform grows, it will be interesting to see how LEO’s benefits expand beyond just fee discounts.
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