When was LEO coin issued? Learn about the origin of LEO coin in one article

LEO Coin was officially introduced to the cryptocurrency market through an initial coin offering (ICO) on May 19, 2019.

Oct 08, 2024 at 06:23 pm

When Was LEO Coin Issued?

1. Origin of LEO Coin

LEO Coin is the native utility token of the Bitfinex cryptocurrency exchange, and it serves various purposes within the Bitfinex ecosystem. It was launched as a fundraising mechanism through an initial coin offering (ICO) on May 19, 2019.

2. ICO Structure and Fundraising

The LEO ICO raised a total of $1 billion through the sale of 1 billion LEO tokens. The tokens were sold at a price of $1 per token, with a lockup period of one year from the date of purchase.

3. Token Allocation

Of the total supply of 1 billion LEO tokens, 66% (660 million) were allocated to ICO participants. The remaining 34% (340 million) were distributed as follows:

15% (150 million) to Bitfinex
10% (100 million) to the LEO Foundation
9% (90 million) to employees and key partners

4. Token Utilities

LEO Coin provides holders with a range of benefits within the Bitfinex ecosystem, including:

Reduced trading fees on the exchange
Access to exclusive features and services
Participation in governance through LEO token voting
Utility in the Ethfinex token platform and DeversiFi ecosystem

5. Performance and Market Value

Since its launch in 2019, LEO Coin has experienced significant price fluctuations. Its all-time high occurred on May 20, 2021, when it reached a value of $15.01. As of July 15, 2023, LEO Coin is trading at around $4.28, with a market capitalization of approximately $428 million.

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