Unus Sed Leo (Leo) is a utility token made by iFinex, the company behind the top crypto exchange Bitfinex and Ethfinex, in May 2019. It is an exchange utility token designed to be the heart of iFinex and empower the entire Bitfinex community. Leo is said to provide significant operational benefits for their customers that are looking to maximise the output of Bitfinex and other iFinex platforms.
The utility token was launched to the public after a $1 billion private sale which lasted only 10 days During the private token sale, each Leo was sold for 1USDt which resulted in the $1 billion raised. The Unus Sed Leo token itself was issued on both the Ethereum and Eos blockchain in the aim to increase ease and flexibility for users. Furthermore, the Unus Sed Leo team are also hoping to contribute to the development around blockchain interoperability and intend to make Unus Sed Leo an integral part of the entire decentralised exchange industry via integrations with EOSFinex and ETHFinex. 660 million Leo tokens were issued on Ethereum blockchain and 340 million were issued on the EOS blockchain.
Unus Sed Leo token holders should also benefit from Leo tokenomics which employ a continuous burning mechanism to reduce the supply of Unus Sed Leo on the circulating market with the intention to increase the value. According to the tokenomics, 27% of iFinex consolidated gross revenue will be contributed toward the buy-back and burn scheme. The entire scheme will be overseen by the Unus Sed Leo Transparency Initiative which will make the entire process verifiable.
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