UNUS SED LEO (LEO) is the utility token of the iFinex ecosystem. Users of the Bitfinex cryptocurrency exchange who hold LEO receive reduced trading fees.
A brief history
Founded in 2012, Bitfinex is one of the older cryptocurrency exchanges. Bitfinex is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers with a focus on providing unparalleled support, tools, and innovation. The network supports over 170 cryptocurrencies on its active trading platform, including Bitcoin, Ethereum, Terra, Tether, Solana, Litecoin, Ripple, and many others. Trading fees are another standout feature at Bitfinex. Most trades come with either a 0.10% maker fee or a 0.20% taker fee. That rate applies to crypto, stablecoin, and fiat trades.
LEO in practice
By holding LEO, users can save on platform fees. By holding at least one dollar in LEO, users save 15% of taker fees for crypto-to-crypto and crypto-to-stablecoin trades. With at least $5,000 in LEO, users receive 25% off fees for crypto and stablecoin trades and 10% off fiat trades. And finally, with $10,000 or more in LEO, users get a larger percentage discount, depending on the user's balance. There are also token burns that occur on a monthly basis. iFinex aims to buy back and burn a minimum of 27% of the consolidated gross revenues of iFinex in the previous month. The process is to be repeated as long as the tokens are found in commercial circulation.