-
Bitcoin $99,182.6935
-0.03% - Ethereum
$2,815.1542
3.78% - XRP
$2.6284
-1.86% - Tether USDt
$1.0005
-0.10% - Solana
$213.9625
3.34% - BNB
$582.6920
-2.03% - USDC
$0.9999
-0.02% - Dogecoin
$0.2694
-0.73% - Cardano
$0.7563
-2.80% - TRON
$0.2260
-0.19% - Chainlink
$20.5620
-0.20% - Sui
$3.7010
4.08% - Avalanche
$27.0808
-0.89% - Stellar
$0.3531
-0.90% - Hedera
$0.2586
-0.70% - Toncoin
$3.9019
-2.36% - Shiba Inu
$0.0...01582
0.37% - UNUS SED LEO
$9.7629
-0.24% - Hyperliquid
$26.6325
8.11% - Bitget Token
$6.5220
1.53% - Litecoin
$102.5558
-0.55% - Polkadot
$4.7932
-3.23% - Bitcoin Cash
$335.2967
0.21% - Ethena USDe
$0.9996
-0.08% - MANTRA
$5.8664
3.91% - Uniswap
$9.3921
-3.52% - Dai
$0.9999
-0.01% - Ondo
$1.4285
-0.52% - Pepe
$0.0...01037
-0.04% - Monero
$229.1802
5.40%
Who issued the UNUS SED LEO (LEO) currency?
UNUS SED LEO (LEO), a utility token for the Bitfinex platform, was issued by iFinex, the operator of the exchange, in May 2019 as compensation for losses incurred during a 2016 security breach.
Dec 11, 2024 at 08:40 am
Who Issued the UNUS SED LEO (LEO) Currency?
Introduction
UNUS SED LEO (LEO) is a cryptocurrency issued by iFinex, the operator of the Bitfinex cryptocurrency exchange. LEO is a utility token designed to provide holders with various benefits and discounts on the Bitfinex platform.
Background
iFinex launched LEO in May 2019 as a way to compensate users for losses incurred during a security breach on the Bitfinex exchange in 2016. The breach resulted in the theft of approximately $72 million worth of Bitcoin.
Functionality
LEO provides holders with a range of benefits on the Bitfinex platform, including:
- Reduced trading fees
- Access to exclusive trading features
- Increased withdrawal limits
- Participation in LEO Staking rewards
Issuance
iFinex issued a total of 1 billion LEO tokens, which were distributed as follows:
- 90%: Distributed to Bitfinex users who had lost funds in the 2016 security breach.
- 10%: Retained by iFinex to support future development of the LEO ecosystem.
Tokenomics
LEO has a maximum supply of 1 billion tokens. The tokenomics are designed to ensure that LEO remains a scarce asset, supporting its value over time.
Use Cases
LEO is primarily used within the Bitfinex ecosystem. It can be used to:
- Pay trading fees
- Participate in LEO Staking
- Access exclusive trading features
- Purchase premium memberships on Bitfinex
Value Proposition
LEO offers a number of benefits to holders, including:
- Reduced trading costs
- Enhanced trading functionality
- Increased earning potential
Considerations
As with any cryptocurrency, LEO is subject to market volatility. The value of LEO can fluctuate significantly based on market conditions.
Conclusion
LEO is a utility token issued by iFinex to provide holders with various benefits and discounts on the Bitfinex platform. It was launched in May 2019 as a way to compensate users for losses incurred during a security breach in 2016. LEO has a maximum supply of 1 billion tokens, with 90% distributed to affected users and 10% retained by iFinex.
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