LEO Token

LEO Token, full name UNUS SED LEO, is a utility token issued in 2019 by iFinex, the parent company of the Bitfinex cryptocurrency exchange. The token exists on two chains: under Ethereum's token standard and on the EOS network. LEO's initial sale was carried out as a token sale aimed at meeting the financing need iFinex faced at the time.

LEO holders receive discounts on trading, withdrawal and lending fees on Bitfinex and platforms affiliated with iFinex. What sets the token apart from its peers is the buyback program committed to by the issuer: iFinex has undertaken to buy back LEO from the market every month with a set portion of its consolidated income and burn it. It has also been announced that the bulk of what is recovered from the assets stolen in the 2016 Bitfinex hack will be used to buy back and burn LEO.

The LEO price is sensitive to Bitfinex's business volume, whether the buyback commitment is maintained, legal proceedings concerning the recovered assets and the counterparty risk of being tied to a single corporate group. The price displayed on the LEO Token page on Lzzo.com is DefiLlama's US dollar reference; the chart on the page is updated with this source's historical data.