Market Cap: $2.8011T 0.15%
Volume(24h): $42.6644B -33.69%
Fear & Greed Index:

58 - Neutral

  • Market Cap: $2.8011T 0.15%
  • Volume(24h): $42.6644B -33.69%
  • Fear & Greed Index:
  • Market Cap: $2.8011T 0.15%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top Cryptospedia

Select Language

Select Language

Select Currency

Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos

Who issued the UNUS SED LEO (LEO) coin?

The UNUS SED LEO (LEO) coin was issued by the Bitfinex cryptocurrency exchange in May 2019 as a fundraising effort following a 2016 hack.

Dec 17, 2024 at 11:15 pm

Who Issued the UNUS SED LEO (LEO) Coin?Introduction

UNUS SED LEO (LEO) is a utility token issued by the Bitfinex cryptocurrency exchange. It was created in May 2019 as part of a fundraising effort to cover losses incurred by the exchange following a hack in 2016. LEO holders receive a number of benefits, including reduced trading fees, access to exclusive features, and the ability to participate in the exchange's governance.

Issuer
  • Bitfinex
Background
  • Bitfinex is a cryptocurrency exchange founded in 2012.
  • In 2016, Bitfinex was hacked, resulting in the loss of approximately $70 million in Bitcoin.
  • To cover these losses, Bitfinex issued LEO tokens in May 2019.
  • LEO tokens were sold in a private sale to a select group of investors.
Tokenomics
  • Total Supply: 1 billion LEO
  • Circulating Supply: Approximately 985 million LEO
  • Max Supply: 1 billion LEO
Distribution
  • Private Sale: 60%
  • Community Fund: 20%
  • Bitfinex Reserves: 20%
Benefits of Holding LEO
  • Reduced Trading Fees: LEO holders receive a discount on trading fees on the Bitfinex exchange. The discount is tiered based on the amount of LEO held.
  • Access to Exclusive Features: LEO holders have access to exclusive features on the Bitfinex exchange, such as the ability to participate in special trading events and receive airdrops.
  • Governance: LEO holders have the ability to participate in the governance of the Bitfinex exchange. This includes voting on proposals and electing representatives to the Bitfinex Advisory Board.
Conclusion

UNUS SED LEO (LEO) is a utility token issued by the Bitfinex cryptocurrency exchange. It was created to cover losses incurred by the exchange following a hack in 2016. LEO holders receive a number of benefits, including reduced trading fees, access to exclusive features, and the ability to participate in the exchange's governance.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Related knowledge

What Is Solana SOL? A Complete Guide to Its Speed, Fees and Network Design

What Is Solana SOL? A Complete Guide to Its Speed, Fees and Network Design

Sep 19,2026 at 04:39pm

Core Architecture and Consensus Innovation1. Solana employs a hybrid consensus model combining Proof of Stake (PoS) with Proof of History (PoH), a cry...

What Is Shiba Inu SHIB Used For? Understanding SHIB, Shibarium and Its Ecosystem

What Is Shiba Inu SHIB Used For? Understanding SHIB, Shibarium and Its Ecosystem

Sep 17,2026 at 05:59pm

Core Utility of SHIB Token1. SHIB serves as the foundational asset within the Shiba Inu ecosystem, functioning as a transferable ERC-20 token on Ether...

What Is Avalanche AVAX Used For? Understanding Staking and Avalanche Subnets

What Is Avalanche AVAX Used For? Understanding Staking and Avalanche Subnets

Sep 11,2026 at 07:40pm

Core Utility Functions of AVAX1. AVAX serves as the primary medium for settling transaction fees across all three native chains—X-Chain, C-Chain, and ...

What Is Cardano ADA Used For? Understanding Staking and the Cardano Ecosystem

What Is Cardano ADA Used For? Understanding Staking and the Cardano Ecosystem

Sep 19,2026 at 10:20am

Core Utility of ADA Tokens1. ADA serves as the native asset of the Cardano blockchain, functioning as the sole medium for settling transaction fees ac...

What Is Hyperliquid HYPE Used For? Understanding Its Token and Trading Network

What Is Hyperliquid HYPE Used For? Understanding Its Token and Trading Network

Sep 12,2026 at 11:39am

Core Utility of HYPE Token1. HYPE serves as the native governance token of the Hyperliquid protocol, granting holders voting rights on critical upgrad...

What Is SUI Used For? Understanding SUI Staking and the Sui Ecosystem

What Is SUI Used For? Understanding SUI Staking and the Sui Ecosystem

Sep 11,2026 at 04:40pm

Bitcoin Halving Mechanics1. Bitcoin’s protocol enforces a fixed issuance schedule where block rewards are cut in half approximately every 210,000 bloc...

What Is Solana SOL? A Complete Guide to Its Speed, Fees and Network Design

What Is Solana SOL? A Complete Guide to Its Speed, Fees and Network Design

Sep 19,2026 at 04:39pm

Core Architecture and Consensus Innovation1. Solana employs a hybrid consensus model combining Proof of Stake (PoS) with Proof of History (PoH), a cry...

What Is Shiba Inu SHIB Used For? Understanding SHIB, Shibarium and Its Ecosystem

What Is Shiba Inu SHIB Used For? Understanding SHIB, Shibarium and Its Ecosystem

Sep 17,2026 at 05:59pm

Core Utility of SHIB Token1. SHIB serves as the foundational asset within the Shiba Inu ecosystem, functioning as a transferable ERC-20 token on Ether...

What Is Avalanche AVAX Used For? Understanding Staking and Avalanche Subnets

What Is Avalanche AVAX Used For? Understanding Staking and Avalanche Subnets

Sep 11,2026 at 07:40pm

Core Utility Functions of AVAX1. AVAX serves as the primary medium for settling transaction fees across all three native chains—X-Chain, C-Chain, and ...

What Is Cardano ADA Used For? Understanding Staking and the Cardano Ecosystem

What Is Cardano ADA Used For? Understanding Staking and the Cardano Ecosystem

Sep 19,2026 at 10:20am

Core Utility of ADA Tokens1. ADA serves as the native asset of the Cardano blockchain, functioning as the sole medium for settling transaction fees ac...

What Is Hyperliquid HYPE Used For? Understanding Its Token and Trading Network

What Is Hyperliquid HYPE Used For? Understanding Its Token and Trading Network

Sep 12,2026 at 11:39am

Core Utility of HYPE Token1. HYPE serves as the native governance token of the Hyperliquid protocol, granting holders voting rights on critical upgrad...

What Is SUI Used For? Understanding SUI Staking and the Sui Ecosystem

What Is SUI Used For? Understanding SUI Staking and the Sui Ecosystem

Sep 11,2026 at 04:40pm

Bitcoin Halving Mechanics1. Bitcoin’s protocol enforces a fixed issuance schedule where block rewards are cut in half approximately every 210,000 bloc...

See all articles

User not found or password invalid

Your input is correct