LEO is an IEO token issued by Unus Sed Leo Limited, a new company owned by iFinex, which provides an opportunity for users who want to use iFinex platform and services. iFinex plans to sell LEO tokens worth 1 billion US dollars, while iFinex and its affiliates A certain amount of LEO will also be repurchased from the market every month until no tokens enter commercial circulation. As Bitfinex's platform currency, LEO aims to empower the Bitfinex community and become a utility token at the core of the iFinex ecosystem, enabling token holders to experience the immediate benefits of the iFinex platform's products and services.
LEO is a platform currency issued by Bitfinex, with a total amount of 1 billion. ⑴Issuance background: The chief prosecutor of New York filed a lawsuit against two affiliated companies, namely Bitfinex, the world's largest currency exchange, and Tether, the largest stable currency USDT issuer. , (the two are affiliated companies, and the operator behind them belongs to a company called Ifinex). Among Bitfinex's $850 million client funds, there is a fund account called Crypto Capital. The funds of the $850 million under the name of the Crypto Capital fund are currently frozen under different bank accounts in Poland, the United States, and Portugal. For capital turnover, issuing currency (LEO) has become Bitfinex's way of alleviating the dilemma of assets, in other words, it is to fill its own holes through the funds of retail investors. (2) Repurchase method: The biggest highlight of LEO lies in the three methods of destruction. The first is that 27% of Bitfinex’s profits are used to repurchase the equivalent LEO tokens; the second is the frozen funds of 850 million (at least 95%). It is used for repurchase; the third is the stolen 110,000 BTC, if it is recovered, the user will repurchase the BTC. Zhao Dong, a shareholder of Bitfinex, said that after repurchasing 90%, it will not be repurchased anymore, not a perpetual repurchase. (3) Application scenarios: LEO application scenarios: Token holders can get the direct benefits of iFinex trading platform, products and services, and all LEO token holders can get 15% of cryptocurrency trading pairs (including cryptocurrencies against stablecoins) Taker fee waiver offer. If traders hold LEO tokens, the first transaction fee can be reduced by up to 25% using LEO. ⑷The future development of LEO as a platform currency, like other exchanges, mainly depends on the future development and ecological construction of the Bitfinex exchange. Judging from the published financial data, Bitfinex's profitability is good.