MarketsUNUS SED LEO

UNUS SED LEOUNUS SED LEO PriceLEOUSD

$4.11097999-0.37 %(24h)

Market Statistics

Market Cap$3.813B
24h Volume$1.296M
Circulating Amount$985.24M
Price Change (1h)-0.22 %
Price Change (24h)-0.37 %
Price Change (7 days)-0.93 %

About UNUS SED LEO (LEO)

What Is UNUS SED LEO (LEO)?

UNUS SED LEO, launched in May 2019, is a utility token that’s used across the iFinex ecosystem. The unusual name is based on a Latin citation from one of Aesop’s fables.

The cryptocurrency allows Bitfinex users to save money on trading fees. The extent of the discount depends on how much LEO that the customer has in their account — and the savings on offer are spread across three tiers. There are fluctuations depending on whether a trading pair is crypto-to-crypto, or crypto-to stablecoin.

 

How Is the UNUS SED LEO Network Secured?

These tokens are based on Ethereum and EOS respectively. A dashboard has been released by Bitfinex that offers up-to-minute information on the current supply, and how many LEO tokens have been burned. Bar charts compare LEO burns on a daily basis.

 

What Makes UNUS SED LEO Unique?

A token burn mechanism means iFinex is committed to buying back UNUS SED LEO from the market on a monthly basis. The amount that’s purchased and burned is equal to at least 27% of the revenues generated by iFinex — and tokens are also purchased at the market rate. In a news release at the time, the company said: “The burn mechanism will continue until 100% of tokens have been redeemed.”

Whereas some cryptocurrencies just launch on a single blockchain, LEO tokens were issued on two blockchains. While 64% of the original supply was on Ethereum, the remaining 36% could be found on EOS.

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