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Who issued the UNUS SED LEO (LEO) coin?
The UNUS SED LEO (LEO) coin was issued by the Bitfinex cryptocurrency exchange in May 2019 as a fundraising effort following a 2016 hack.
Dec 17, 2024 at 11:15 pm
Who Issued the UNUS SED LEO (LEO) Coin?
Introduction
UNUS SED LEO (LEO) is a utility token issued by the Bitfinex cryptocurrency exchange. It was created in May 2019 as part of a fundraising effort to cover losses incurred by the exchange following a hack in 2016. LEO holders receive a number of benefits, including reduced trading fees, access to exclusive features, and the ability to participate in the exchange's governance.
Issuer
- Bitfinex
Background
- Bitfinex is a cryptocurrency exchange founded in 2012.
- In 2016, Bitfinex was hacked, resulting in the loss of approximately $70 million in Bitcoin.
- To cover these losses, Bitfinex issued LEO tokens in May 2019.
- LEO tokens were sold in a private sale to a select group of investors.
Tokenomics
- Total Supply: 1 billion LEO
- Circulating Supply: Approximately 985 million LEO
- Max Supply: 1 billion LEO
Distribution
- Private Sale: 60%
- Community Fund: 20%
- Bitfinex Reserves: 20%
Benefits of Holding LEO
- Reduced Trading Fees: LEO holders receive a discount on trading fees on the Bitfinex exchange. The discount is tiered based on the amount of LEO held.
- Access to Exclusive Features: LEO holders have access to exclusive features on the Bitfinex exchange, such as the ability to participate in special trading events and receive airdrops.
- Governance: LEO holders have the ability to participate in the governance of the Bitfinex exchange. This includes voting on proposals and electing representatives to the Bitfinex Advisory Board.
Conclusion
UNUS SED LEO (LEO) is a utility token issued by the Bitfinex cryptocurrency exchange. It was created to cover losses incurred by the exchange following a hack in 2016. LEO holders receive a number of benefits, including reduced trading fees, access to exclusive features, and the ability to participate in the exchange's governance.
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