LEO Token is a utility Token issued by iFinex, the parent company of Bitfinex exchange, operating on both Ethereum and EOS platforms with a central role in the cryptocurrency trading ecosystem.
LEO Token helps reduce transaction fees, supports payments within the iFinex ecosystem, and is used for repurchasing and burning Tokens to enhance value and sustainable development of the project.
MAIN CONTENT
LEO Token is a utility Token on Ethereum and EOS, issued by iFinex.
The main functions include reducing transaction fees, supporting payments, and repurchasing and burning Tokens.
The project has an experienced management team and ranks in the top 30 coins by market capitalization.
What is LEO Token (Unus Sed Leo)?
LEO Token is a utility Token issued by iFinex, the parent company of Bitfinex exchange. This Token operates on two main platforms, Ethereum and EOS, creating a hub for the ecosystem including Bitfinex Exchange, Ethfinex, Bitfinex derivatives, and EOS Finex.
As of now, LEO Token remains in the top 30 cryptocurrencies by market capitalization despite undergoing several bearish market phases, proving its strength and long-term reliability in the cryptocurrency field.
What is LEO Token used for?
According to the Unus Sed Leo Whitepaper, the capital raised from the Token issuance is used by iFinex to invest, cover operating costs, pay debts, and restructure business activities. LEO Token offers many utilities within the iFinex ecosystem.
Specifically, LEO Token helps reduce Taker fees, Lending fees, and deposit/withdrawal fees on Bitfinex and Bitfinex derivatives. It is also used to pay for iFinex's products and services. iFinex commits to allocate a minimum of 27% of monthly profits to repurchase and burn LEO Tokens until no Tokens are in circulation.
"At least 95% of the funds recovered from Crypto Capital will be used to repurchase and burn LEO Tokens within 18 months from the date of recovery, and more than 80% of the funds recovered from Bitfinex's hack incidents will also be allocated for this purpose."
Source: iFinex Whitepaper, 2019
What are the strengths of LEO Token?
LEO Token provides many advantages for both the issuer and users. Through the Bitfinex platform, LEO holders enjoy lower transaction fees and fast transaction processing, creating a favorable environment for cryptocurrency trading.
Moreover, LEO opens up opportunities to access financial products with preferential fee policies, while also being a valuable asset that helps users increase profits through continuous repurchase and burning mechanisms.
What are the detailed information about LEO Token on various platforms?
LEO Token on the Ethereum platform
Ticker: LEO
Contract: 0x2af5d2ad76741191d15dfe7bf6ac92d4bd912ca3
Decimal: 18
Blockchain: Ethereum
Token Standard: ERC-20
Token Type: Utility Token, Exchange Token
Total Supply: 660,000,000 LEO
Circulating Supply: 660,000,000 LEO
LEO Token on the EOS platform
Ticker: LEO
Blockchain: EOS
Token Type: Utility Token, Exchange Token
Total Supply: 340,000,000 LEO
Circulating Supply: 340,000,000 LEO
Users can easily swap between two types of LEO Tokens ERC-20 and EOS on Bitfinex, creating flexibility in trading and storage.
LEO Token sale
Initial Sale Price: 1 LEO = 1 USD
Total Number of Tokens Issued: 1,000,000,000 LEO
LEO Token Allocation
66% Tokens issued on Ethereum
34% Tokens issued on EOS
What types of wallets are available for storing LEO Token?
LEO can be stored in the main wallet of Bitfinex or compatible wallets with the Token issuance platform. The LEO-ERC20 wallet can use software wallets like MetaMask, Trust Wallet or hardware wallets like Ledger Nano, Trezor. For LEO-EOS, users use EOS-supporting wallets like ImToken 2.0, SimpleEOS, EOS Guarda.
What is the development roadmap of LEO Token?
The project roadmap completed its final event in December 2021. As of now, the development team has not announced the next development plans for LEO Token, causing much speculation within the community.
Who are the project development team members of LEO Token?
LEO Token was developed by the founding team of Bitfinex, featuring seasoned personnel like JL van der Velde, Giancarlo Devasini, and Paolo Ardoino, who have extensive experience in the global financial and cryptocurrency markets.
Should one invest in LEO Token?
LEO Token successfully raised 1 billion USD at an issue price of 1 USD/LEO and is currently trading around 3.8 USD, a nearly 4-fold increase after 5 years. However, the project has not had many standout new features, and its token burning mechanism is not a significant advantage compared to other exchange coins like BNB, BitDAO, or OKX.
Investors should closely monitor the project's next development plans before deciding to invest, as competitors in the exchange coin sector currently have strong potential and profitability capabilities.
Frequently Asked Questions about LEO Token
Where can LEO Token be purchased?
LEO Token is primarily traded on Bitfinex, the center for issuing and developing the token. Additionally, some exchanges like FTX, Gate.io, and OKX also support LEO trading.
What are the transaction costs for LEO?
Transaction fees include Token withdrawal/deposit fees on exchanges, trading fees on exchanges, and gas fees on the Ethereum or EOS network depending on the type of LEO Token used.
How to store LEO Token?
LEO is a Token on Ethereum and EOS. It can be stored in software wallets like MetaMask, Trust Wallet, ImToken or hardware wallets like Ledger Nano, Trezor corresponding to the platform of issuance.
Can LEO Tokens be repurchased and burned?
iFinex uses at least 27% of monthly profits to repurchase and burn LEO Tokens to reduce the circulating supply and increase the value of the Token.
Does LEO Token have long-term potential?
Although LEO holds a high market capitalization, investors should thoroughly evaluate upcoming development plans and compare them with other exchange Tokens before investing.
Source: https://tintucbitcoin.com/leo-token-leo-la-gi/
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