How much is the UNUS SED LEO (LEO) currency in circulation?

As of February 1, 2023, approximately 63.5% of the total supply of 1,500,000,000 UNUS SED LEO (LEO) tokens are in circulation.

Dec 12, 2024 at 08:57 pm

How Much is the UNUS SED LEO (LEO) Currency in Circulation?

UNUS SED LEO (LEO) is the native token of the Bitfinex cryptocurrency exchange. It was launched in May 2019 as a utility token that provides holders with various benefits on the exchange, including fee discounts, access to exclusive features, and participation in governance.

As of February 1, 2023, there are 954,354,642 LEO tokens in circulation. This represents approximately 63.5% of the total supply of 1,500,000,000 LEO tokens.

The remaining 36.5% of LEO tokens are held in reserve by Bitfinex. These tokens are used to support the exchange's operations, including marketing, development, and customer support.

The circulating supply of LEO tokens has been gradually increasing since its launch. This is due to the fact that Bitfinex has been regularly releasing new LEO tokens into circulation. These new tokens are used to fund the exchange's operations and to reward LEO holders.

The circulating supply of LEO tokens is expected to continue to increase in the future. This is because Bitfinex plans to continue to release new LEO tokens into circulation in order to fund its operations and to reward LEO holders.

Key Metrics

• Total supply: 1,500,000,000 LEO
• Circulating supply: 954,354,642 LEO
• Market capitalization: $3,070,334,762 USD

Use Cases

LEO tokens are used for a variety of purposes on the Bitfinex exchange, including:

• Fee discounts: LEO holders receive discounts on trading fees on the Bitfinex exchange. The discount is based on the amount of LEO tokens held.
• Access to exclusive features: LEO holders have access to exclusive features on the Bitfinex exchange, such as the ability to participate in LEO staking and to vote on exchange governance proposals.
• Participation in governance: LEO holders can vote on exchange governance proposals. This gives them a voice in the future development of the Bitfinex exchange.

Benefits of Holding LEO

There are a number of benefits to holding LEO tokens, including:

• The token is very cheap and subject to hyperinflation, which could make it easier for Bitfinex to acquire more capital with it in the future.
• The exchange is likely to get more liquidity as a result of LEO bringing more capital in.
• Fees being paid in LEO will be subject to being burned. This will remove them from circulation, making the tokens more valuable in the long run.

Risks of Holding LEO

There are a number of risks to holding LEO tokens, including:

• The price of LEO is volatile and could decline in value.
• The exchange could be hacked or compromised, which could result in the loss of LEO tokens.
• The exchange could change its policies regarding LEO tokens, which could reduce the value of the tokens.