In 2017, Initial Coin Offerings (ICOs) became a popular way for blockchain-based startups to raise capital. The ICO trend gave birth to a new type of cryptocurrency, known as platform tokens, which are used within a specific ecosystem and offer various benefits to users. Platform tokens can be used for a variety of purposes, such as paying fees, accessing special features, and incentivizing users. UNUS SED LEO (LEO) is one such platform token that was launched by Bitfinex, a major cryptocurrency exchange, in May 2019. LEO offers Bitfinex users various benefits, including fee discounts and access to exclusive services, and can be used across iFinex’s ecosystem of platforms.

What Is UNUS SED LEO (LEO)?

UNUS SED LEO (LEO) was launched by iFinex, the parent company of the Bitfinex cryptocurrency exchange and Tether stablecoin, in May 2019. It is a utility token designed to offer various benefits to Bitfinex users. Bitfinex is one of the world’s largest cryptocurrency exchanges, and the launch of LEO was seen as a move to bolster confidence in the company after it faced legal and financial challenges, including accusations of market manipulation and a hack.

The token was launched via a private sale, where 1 billion LEO tokens were sold to investors in exchange for USDT (Tether) at a price of $1 per token, raising a total of $1 billion in just ten days. The sale was oversubscribed, indicating strong demand for the token.

LEO offers various benefits to Bitfinex users, including reduced trading fees, access to exclusive services, and discounts on other platform fees. The token has also been used to help Bitfinex navigate financial difficulties, with the company using LEO to buy back and burn tokens in order to reduce supply and support the token’s value.

How Does LEO Work? Benefits and Dual Blockchain Features

UNUS SED LEO (LEO) serves as a discount and marketplace token for all iFinex products. The token offers taker fee reduction, lending fee reduction, derivatives taker fee reduction, and withdrawal and deposit fee discounts of up to 25% on Bitfinex and EOSfinex. Any future platforms built under the iFinex banner will offer similar discounts to LEO token holders. The discounts vary based on an account holder’s user status level, the amount of LEO held in an account over the previous month, and the type of trade done on the Bitfinex platform.

In addition, the withdrawal and deposit fee discounts are accessible to any user holding over $50 million worth of LEO tokens to withdraw up to $2 million without additional fees. The benefits of owning LEO tokens include saving commissions, monthly discounts, and discounts on withdrawal and replenishment of both cryptocurrency and fiat money on the Bitfinex exchange.

To summarize, the functions of LEO are:

• Taker fee reduction
• Lending fee reduction
• Derivatives taker fee reduction
• Withdrawal and deposit fee discounts of up to 25% on Bitfinex and EOSfinex
• Discounts vary based on an account holder’s user status level
• Withdrawal and deposit fee discounts

The LEO token boasts a unique feature of “Dual Blockchain Compatibility” that is based on the Ethereum and EOS blockchains, which hold 64% and 36% of the token supply, respectively. This allows for increased flexibility in sending and receiving the token as either an Ethereum or EOS token, attracting investors from both communities to the LEO ecosystem.

Additionally, the smart contract compatibility on both blockchains enables developers to build decentralized applications (DApps) and implement the token into various use cases available on both chains.

This feature aids smart contract inter-chain capabilities built by developers and is readily available on both chains. The LEO token’s dual blockchain compatibility and smart contract capabilities provide a strong foundation for its potential use cases in the future.

LEO Tokenomics

The LEO token has a unique tokenomics structure designed to increase investor confidence and create value for token holders. One key feature is a buyback and burn mechanism, which uses 27% of consolidated gross revenues from iFinex and its affiliates to purchase LEO tokens on the market and burn them. The burning mechanism is continuous and verifiable in real-time, providing transparency for the community. The tokenomics also include recovered funds from the Bitfinex hack and Crypto Capital to purchase and burn LEO tokens, as well as intentionally limiting the lifespan of the token through the buyback and burn process until no tokens remain in commercial circulation.

To ensure stability in the token price, recovered funds will be used to purchase LEO tokens at certain times, and a dashboard has been created to display the token buyback and burn process and current circulating supply in real-time. Overall, these tokenomics measures aim to create a fair and transparent system for LEO token holders and increase the value of the token over time.

Source: LEO - Bitfinex

Is UNUS SED LEO a Good Investment?

It is important to note that any investment comes with risks, and investors should always do their own research and consider their personal financial circumstances before making any investment decisions. While UNUS SED LEO’s tokenomics and ecosystem provide some unique features, such as the token burn mechanism and various use cases, investors should also be aware of the potential risks associated with the token. This includes the possibility of price manipulation and the fact that the token was created to cover a loss of funds.

Ultimately, whether UNUS SED LEO is a good investment will depend on individual investors’ risk tolerance and investment goals. As with any investment, it is important to thoroughly assess the risks and benefits before making a decision.

How to Own LEO?

To own LEO, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy LEO.

News on UNUS SED LEO

UNUS SED LEO has been performing well over the past week, with a 1.44% increase in price. This positive trend indicates the potential for growth in the near future, making it a good time to consider investing. Despite a slight drop in value of 1.87% over the past month, the current dip presents an attractive opportunity for investors looking to buy in at a lower price point. Additionally, UNUS SED LEO holds a solid position in the cryptocurrency ecosystem, currently ranked No. 23. For those interested in further analysis, the historical data available on many websites offers valuable insights into UNUS SED LEO’s price trends over time, allowing investors to make informed decisions about their investments.

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