LEO
Crypto Overview
Purpose and Utility
LEO is a utility token issued by iFinex (parent company of Bitfinex) in May 2019. Its primary purpose is to provide benefits to Bitfinex exchange users, including trading fee discounts, reduced lending fees, and improved rates on the platform.
Business Model
The token operates as a utility token within the Bitfinex ecosystem. Users holding LEO receive discounts on trading fees (up to 15%) and other platform benefits. iFinex commits to using 27% of its monthly revenues to buy back and burn LEO tokens until none remain in circulation.
Real-World Adoption
LEO is actively used within the Bitfinex exchange ecosystem, with verifiable on-chain data showing regular token burns and utility usage. The buyback mechanism has been consistently executed since launch, with transparent reporting of burns.
Token Distribution
Initial token distribution was through a private sale. There's transparency regarding token burns, with regular updates on the amount of LEO burned through the buyback program. The token supply is decreasing over time due to the burning mechanism.
Development and Platform Activity
LEO exists as part of the broader Bitfinex ecosystem, which maintains active development and regular updates. The token's utility is straightforward and doesn't require extensive independent development.
Crypto Impact
To assign a comfort level investing in LEO from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to LEO.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.