UNUS SED LEO (LEO) is a utility token created for use in the iFinex ecosystem. In this article, as Kriptokoin.com, “What is UNUS SED LEO?” We will answer the question. In addition, we will touch on other questions about the project.
What is UNUS SED LEO? What does it do?
UNUS SED LEO is the token created for iFinex, the parent company of crypto exchange Bifinex. The token was launched in May 2019 after the company raised $1 billion in the ICO. Token holders receive trading discounts on iFinex platforms. The company will buy back the tokens and destroy them until they are removed from the market. Bitfinex, the first exchange where LEO was widely used, is a subsidiary of iFinex. To maintain the confidence of investors, it has created a dedicated dashboard to break down the token ‘buyback and burn’ process in full detail along with the current circulating supply in real time. The first stage of the incineration mechanism included only the income from trading fees. In the next stage, revenues from other products of iFinex will be used. Buyback and burning will continue until 100% of 1 billion LEO tokens are burned. In the future, after 100% buyback and burn, there will be no more LEO tokens.
What is LEO coin?
LEO coin UNUS SED is the native token of LEO. Bitfinex and Ethfinex commission fees for coin holders have dropped by 15%. The discount is valid for all cryptocurrency pairs, including stable coin pairs. To use the feature, it is sufficient to have at least one token in the account.
How does UNUS SED LEO work?
UNUS SED launched the LEO token in May 2019. 1 billion has been created, 66% on the Ethereum blockchain and 34% on the EOS blockchain. In addition, Bitfinex uses 27% of the transaction fees it collects to buy and burn tokens. This is quite different from almost any other cryptocurrency where UNUS SED LEO was created with specific plans to eventually cease to exist. Bitfinex consistently burns tokens, reducing supply even as demand increases at the same time. This dynamic will continue to drive up the price of LEO tokens as they become increasingly scarce through the burn program mechanism.
What is UNUS SED LEO? How to buy LEO coins?
UNUS SED LEO is currently traded on numerous cryptocurrency exchanges. In addition, people who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where UNUS SED LEO is traded are listed as follows: OKX, FTX, DigiFinex, Gate.io. Users who want to invest in the project should open an account on one of these exchanges.
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