LEO Token (LEO) IEO

UNUS SED LEO (LEO) is a utility token issued by Bitfinex, a cryptocurrency exchange that's one crypto industry's leaders when it comes to spot market liquidity. Like most other cryptocurrency exchange tokens, holding the LEO gives certain benefits for users of the exchange. Users who hold LEO enjoy reduced trading fees, funding fee discounts, and additional benefits from the exchange's referral program. LEO tokens have been issued on both the Ethereum and EOS blockchains.

Basic UNUS SED LEO (LEO) features:

• A token that has been issued on both Ethereum and EOS
• Gives special benefits to Bitfinex users
• Bitfinex parent company iFinex uses 27% of its consolidated gross revenues to buy back LEO tokens
• Transparent buyback and burning mechanism

The LEO token was launched in May of 2019 after Bitfinex raised $1 billion by selling the tokens to investors in a private sale. This was one of the biggest token sales of all time, alongside EOS, Filecoin, Tezos and Telegram Open Network. 

One of the main reasons why Bitfinex launched LEO was to secure funding after payment processing company Crypto Capital, which Bitfinex previously worked with, allegedly lost $880 million of Bitfinex's funds.

iFinex, the parent company of Bitfinex, uses 27% of its consolidated gross revenues to buy back LEO tokens from the open market with the goal of eventually removing the entire supply of LEO from commercial circulation. The company also says that it will use any funds that it recovers from Crypto Capital to buy back LEO tokens.

LEO is one of the largest cryptocurrency exchange-issued tokens by market capitalization, and it is comparable to tokens issued by the likes of Binance, OKEx and Crypto.com.

Interesting LEO statistics such as LEO's supply and burn dynamics are available on the LEO transparency dashboard provided by Bitfinex.