LEO Token (LEO)USD

UNUS SED LEO is a utility token created by iFinex Inc., the parent company of the Bitfinex cryptocurrency exchange, to provide fee benefits and other advantages across the iFinex ecosystem. iFinex launched LEO in May 2019, with the token going live on 21 May 2019. LEO does not operate on its own blockchain. Instead, it was issued on existing networks: 660 million tokens as an ERC-20 token on Ethereum and 340 million on EOS, for an initial total supply of one billion. The token is not mineable and does not rely on a consensus mechanism of its own. LEO is used primarily to reduce trading, lending, and withdrawal fees on Bitfinex and related iFinex platforms, with discounts tiered according to the amount of LEO a user holds. iFinex commits at least 27 percent of its monthly gross revenue to buying back and permanently burning LEO tokens until the supply is reduced toward zero, giving the token a deflationary supply model. As of current data, circulating supply sits in the range of 920 million to 985 million LEO, a result of the ongoing burn program rather than a fixed hard cap.