The advantages of holding a Unus Sed Leo coin

What is Unus Sed Leo or LEO?

Unus Sed Leo or simply LEO as they refer to the coin on the exchange platforms is a recently emerged cryptocurrency token. It was designed specifically to expand the operations and user capabilities of the company iFinex. At the launch of its token UNUS SED LEO, Bitfinex accumulated around $1 billion instantly. The launch of the token was held in May 2019.

History of Bitfinex and LEO coin

Bitfinex is one of the oldest crypto-exchange platforms among those that still operate on the market today:

• The company named iFinex is the owner of the Bitfinex exchange. iFinex started operations back in 2012.
• BitFinex is one of the oldest exchange platforms out there. It had a lot of hurdles and obstacles in its way. The attempts to hack it were numerous.
• Another notoriety came to the company when the U.S. prosecutor's office accused the parent company of illegally transferring money to a crypto-capital corp and trying to hide USD 850 million of losses by using the reserves from USDT Tether as a cover for these losses. Tether USDT is an entity also owned by iFinex.
• All the negative publicity resulting from these cases created a hurting impact on both iFinex and its daughter company Bitfinex.
• To make amends with the cryptocurrency community, iFinex launched the LEO set of tokens. IFinex came up with a solution to make up for the money they had lost during the financial turmoil of the company.
• Their strategy was to buy back the tokens from the investors to the point that there were no LEO tokens left on the market at all.
• The company also implemented the full transparency initiative, so the crypto market could monitor the company's rehabilitation progress and make sure they, as the crypto market player, were meeting the targets.

How many LEO tokens are there?

One billion LEO tokens in total were created by iFinex. These tokens were divided into:

• 340 million EOS-based tokens,
• 660 million Ethereum-based tokens.

After the initial launch of the LEO coin, it went to the top 15 coins operating on the cryptomarket. It had also become one of the largest coins based on a market cap.

The perks of having a LEO coin

What can the holder of a LEO coin gain? We break down the major advantages of having LEO coins in your crypto-wallet:

1. The LEO owners got the benefit of having trading discounts. Additionally, the LEO coin comes in handy if one needs to convert between EOS and Ethereum protocols.
2. Using Bitfinex exchange as a bridge, the user of LEO can start by depositing one EOS-based token, and exchange it to one ERC20 LEO token. The price of both tokens on the exchange platform remains stable. Bitfinex connects the chains by making adjustments to issuances after the conversion process has been processed.
3. Another benefit for LEO coin users is that they can participate in iFinex profit sharing during buy-back periods. The iFinex policy includes taking some of the tokens back and then burning them in order to lower the overall supply on the market.
4. The users can also participate in the development of projects based on blockchain interoperability.
5. The users of LEO are offered the possibility of accessing a wide variety of options when they want to trade pairs without buying or selling EOS or Ethereum directly on an exchange platform.
6. iFinex, BitFinex’s parent company, is operating the exchange platforms that have EOS-based and ERC20-based LEO coin tokens. The platform strives to become a fundamental component of these exchanges. The company wants its users to benefit from dealing with them. Besides, it strives to significantly increase the overall utility of the currency. These utilities would include the benefits of token fees and gradual and consistent increase of the price of the token through a thoroughly developed profit burn procedure.

BitFinex burning mechanism

BitFinex is implementing the burning mechanism in its policy for the strategic development of the LEO coin.

The burning mechanism means the company that launched the token will buy back the coins on a monthly basis. The amount of coins that is purchased and then burned is equal to 27 percent of the revenues total that were generated by the transaction fees on the BitFinex exchange platform. At the end of the day, every token issued by the company will be burnt. The LEO holders can still hold dollar LEOs in order to reduce commission fees and receive significant discounts on services and active multipliers.

The difference between LEO and other coins

LEO coin is different from the cryptocurrencies that were launched on a single blockchain. LEO is launched on two blockchains. Both discounts can be implemented on BitFinex and EOS Finex as both of these platforms operate under iFinex. Additionally, any future platforms that operate under iFinex will be partial to similar discounts to LEO token holders.

Is it worth investing in LEO?

Is it worth investing in BitFinex’s LEO at the moment?

1. The LEO coin is keeping its positive growth and can be considered an investment opportunity thanks to its deflationary quality.
2. As an exchange, it is in the proximity of 5 Billion market cap. It is above coins such as CRO issued by crypto.com and KCS issued by Kucoin. It stands lower than Binance’s BNB.
3. One should bear in mind that the LEO token was created to compensate for the financial loss of the BitFinex exchange platform. However, its benefits for the holders and users of the platform are numerous.
4. It is important to remember that the LEO coin does not have its own blockchain.