Golden Recursion Inc. logoGolden Recursion Inc. logo
Advanced Search
LEO Token

LEO Token

LEO cryptocurrency is a utility-token (or service, exchange) and at the same time a redemption token that is useful to users across the entire iFinex portfolio, including Bitfinex, Ethfinex, EOSfinexnded.

LEO Token is an internal coin of the oldest cryptocurrency exchange Bitfinex. The coin was issued to help deal with a crisis that arose after the exchange’s payments processing company, Crypto Capital, noticed that some of its funds were confiscated by the state. To cover the financial gap, the LEO cryptocurrency was launched, for the sale of which, as part of the IEO, 1 billion dollars were collected.

Cryptocurrency LEO is useful primarily for traders. With its help, users can save on exchange trading commissions. The amount of the discount depends on how much LEO is in the client's account. There are three levels of savings in total. LEO Token allows users to save on Bitfinex exchange fees from 5% to 25%.

Unlike other cryptocurrencies, LEO Token will not last forever. Developers undertake to gradually buy back tokens from the market to burn them, allocating at least 27% of the profits of the trading platform for this. The withdrawal and burning mechanism will work until all 100% of the coins are redeemed. LEO tokens were issued on two blockchains at once - Ethereum and EOS. As a percentage, 64% and 36%, respectively. On Bitfinex, users can monitor the LEO burning process to ensure that the trading platform is fulfilling its obligations.

Timeline

Further Resources

Title
Author
Link
Type
Date

Announcements

Web

References

Golden logo
By using this site, you agree to our Terms & Conditions.