LEO

Halal Rating :
Comfortable
Contract: SP1AY6K3PQV5MRT6R4S671NWW2FRVPKM0BR162CT6.leo-token
Last Price $0.00016 Last updated:
Rank 4616
1D Change -1.59 %
Market Cap -
Circulating supply 0
Maximum supply 10,000,000,000

Crypto Overview

Categories
  • Stacks Ecosystem

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.

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