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UNUS SED LEO news
About UNUS SED LEO
What Makes UNUS SED LEO Unique?
A token burn mechanism means iFinex is committed to buying back UNUS SED LEO from the market on a monthly basis. The amount that’s purchased and burned is equal to at least 27% of the revenues generated by iFinex — and tokens are also purchased at the market rate. In a news release at the time, the company said: “The burn mechanism will continue until 100% of tokens have been redeemed.”
Whereas some cryptocurrencies just launch on a single blockchain, LEO tokens were issued on two blockchains. While 64% of the original supply was on Ethereum, the remaining 36% could be found on EOS.
How Many UNUS SED LEO (LEO) Coins Are There in Circulation?
As we mentioned, the circulating supply of LEO tokens is designed to diminish over time. Originally, the total supply was set at 1 billion.
LEO was sold for $1 apiece on a 1:1 basis with the Tether stablecoin, meaning that a total of $1 billion was raised over a 10-day period.
There were 660 million ERC-20 tokens at launch, as well as 340 million EOS-based tokens — and Bitfinex allows conversions between the two chains to be made with ease.
At the time, the company described the dual protocol launch as “unique” — and vowed that it would empower the Bitfinex community.
The token offers taker fee reduction and lending fee reduction for all platforms, products and services provided by iFinex. Additionally, the LEO Token includes a withdrawal and deposit fee discount of up to 25% and a derivatives taker fee reduction. Furthermore, these discounts apply to Bitfinex and EOSfinex, as both platforms operate under the iFinex banner. Any future platforms built under the iFinex banner will offer similar discounts to LEO token holders.
That deduction of up to 25% will be deducted in LEO first, assuming the trader has those tokens in their portfolio. Moreover, the withdrawal and deposit fee discounts are accessible to any user holding over $50 million worth of LEO tokens (on average over the past month) to withdraw up to $2 million without additional fees. Any amount above $2 million is subject to a 2% fee, rather than 3%.
It is worth mentioning there is a LEO token burn to deflate the supply over time. In the whitepaper, it is mentioned there are monthly token burns during which iFinex buys back LEO amounts equal to at least 27% of the consolidated gross revenue generated by iFinex the previous month.
The live UNUS SED LEO price today is $6.03 USD with a 24-hour trading volume of $1,732,547 USD. We update our LEO to USD price in real-time. UNUS SED LEO is up 2.72% in the last 24 hours. The current CoinMarketCap ranking is #17, with a live market cap of $5,580,048,828 USD. It has a circulating supply of 925,706,856 LEO coins and the max. supply is not available.
If you would like to know where to buy UNUS SED LEO at the current rate, the top cryptocurrency exchanges for trading in UNUS SED LEO stock are currently Zedcex Exchange, OKX, DigiFinex, CoinUp.io, and XT.COM. You can find others listed on our crypto exchanges page.