UNUS SED LEO (LEO) is a utility token launched in May 2019 by iFinex Inc., the parent company of Bitfinex. It provides users with benefits such as trading fee reductions, lending fee discounts, and lower withdrawal and deposit fees. Issued on both Ethereum (ERC-20) and EOS blockchains, LEO allows flexible usage across networks. A key feature of LEO is its token burn mechanism, where iFinex uses 27% of monthly profits to buy back and destroy tokens, reducing supply over time. The token was initially created to raise $1 billion after Bitfinex faced financial constraints due to frozen funds. Since then, it has become integral to the Bitfinex ecosystem, offering additional perks to holders, including fiat withdrawal discounts and potential use across iFinex services. LEO remains a core component of Bitfinex’s strategy to enhance platform engagement and cost efficiency for its users.
