UNUS SED LEO is a token for iFinex. The token was founded in May 2019 after the company grew by $1 billion from the initial offering. The parent company of crypto exchange Bifinex. Token holders acquire trading discounts on iFinex platforms. The company will buy back tokens and conquer them until they are released from the market.
What Is UNUS SED LEO (LEO)?
UNUS SED LEO is a utility token utilized across the iFinex ecosystem. The unique name is established on a Latin citation from Aesop’s fables.
The cryptocurrency lets Bitfinex users save money on trading fees. The discount depends on how much LEOvcustomer has in their account. The savings on request are spread across three tiers. Changes depend on whether a trading team is crypto-to-crypto or crypto-to stablecoin.
UNUS SED LEO launched in May 2019 — and unlike many other cryptocurrencies, it is not designed to exist forever.
UNUS SED (LEO) Live Price, Market Cap, Volume, Supply.
|#||Name||Price||Changes 24h||Market CAP||Volume||Supply|
Can I make money with LEO coin?
Indeed, yes. Since the LEO token is considerably a new addition to the crypto market, its performance will be quite bullish, at least for five years at the highest price. Investors are suggested to do their due perseverance following market predictions for selling in Leo coin and become proud proprietors of UNUS SED LEO.
How UNUS SED LEO works?
When it comes to the issues Bitfinex expects to tackle with LEO, the primary goal is to develop the Bitfinex community and profit from the benefits of processing transactions in the Bitfinex ecosystem.
Moreover, the token works on a buyback and burn mechanism and has a limited lifespan. Bitfinex spends 27% of its income on token buybacks for burning. The Bitfinex dashboard supplies a detailed and open record of token assets and burning. iFinex has committed to a buyback strategy at existing market rates until no tokens remain in commercial circulation. In other words, LEO is not prepared to live permanently, a unique feature of this token. Because iFinex owns a significant portion of Tether operations, it has been assumed that their buyback figures include Tether revenues.
According to the UNUS SED LEO white paper, 80% of any BTC recovered from a 2016 breach the iFinex suffered will also go toward the buyback scheme. 6.5 BTC have been retrieved thus far. Furthermore, if iFinex ever recovers the cash losses due to the US government’s seizure of former payment processor Crypto Capital, 95% of the recovered assets will also be allocated to the buyback scheme.
Benefits for owners of UNUS SED LEO tokens
Benefits of owning UNUS SED LEO tokens contain:
- Saving commissions on Bitfinex. All payments for those who hold the token will be decreased by 15% for all teams of cryptocurrencies.
- Monthly discounts on Bitfinex. Token holders can acquire a value of 0.05% for every 10 thousand USDT in UNUS SED LEO tokens kept on the dealer’s balance sheet last month. Totals are created, taking into account per day of the month. The ultimate discount is 5%.
- Discount on withdrawal and replenishment of cryptocurrency and fiat money on the Bitfinex swap. Holders of more than 50 million UNUS SED LEO will acquire a discount of up to 25% on the withdrawal and deposit of cryptocurrencies. Also, clients of the marketplace, who will carry tokens for $50 million, can withdraw up to $2 million per month without extra fees. In addition, the additional commission will be decreased from 3% to 2% with any monthly withdrawal of more than 2 million USD.
The Overview of UNUS SED LEO (LEO)
|Cryptocurrency||UNUS SED LEO|
|Price Change 24H||+0.52%|
|Price Change 7D||+9.25%|
|Circulating Supply||953,954,130 LEO|
|UNUS SED LEO ROI||+412.94%|
What is UNUS SED LEO used for?
LEO is the utility token at the core of the iFinex ecosystem. Token holders profit from the company’s whole portfolio and prospective projects, products, and services.
It gives LEO token holders freedom and interoperability. It is home to two distinct groups and habitats. Not only that, but it makes it possible for the currency to be used in various decentralized exchanges (DEXs) and decentralized applications (DApps).
Furthermore, Bitfinex links Ethereum and EOS, allowing the LEO token to be transferred between the two platforms. As a result, the token may be utilized in both ERC20 and EOS token standards.
- Who created UNUS SED LEO?
The UNUS SED LEO project was established by iFinex, the parent company of the Bitfinex cryptocurrency exchange and Tether stablecoin.
- What makes UNUS SED LEO unique?
UNUS SED LEO (LEO) has a limited life process. Parent company iFinex’s buy-back and burn system contribute 27% of company profits to the project, which will conclude once the last LEO token is burned.
- How many UNUS SED LEO coins are there?
From an initial collection of one billion, there are now just more than 938.2 million LEO coins in circulation. This number steadily reduces through LEO’s buy-back plan.