Today's UNUS SED LEO (LEO) price is $9.00**, with a 24-hour trading volume of **$1.51 million. The token shows 0% price change in the last 24 hours, with a circulating supply of 923.14 million LEO.
What Is UNUS SED LEO?
UNUS SED LEO serves as the utility token for iFinex, the parent company of cryptocurrency exchange Bitfinex. Its unique name derives from a Latin phrase in Aesop's fables, translating to "one but a lion"—emphasizing quality over quantity.
Blockchain Distribution:
- 64% on Ethereum (ERC-20)
- 36% on EOS
History of UNUS SED LEO
Created in May 2019, LEO emerged after iFinex lost $850 million** due to funds seized from payment processor Crypto Capital. The token raised **$1 billion in its Initial Exchange Offering (IEO) at 1 USDT per token, enabling iFinex to recover losses.
Key Events:
- 2016 Hack Recovery: 80% of reclaimed BTC (6.5 BTC to date) funds token buybacks.
- Crypto Capital Funds: If recovered, 95% would fuel LEO buybacks.
How Does UNUS SED LEO Work?
LEO operates as a self-destructing token with a unique buyback-and-burn mechanism:
- Revenue Allocation: Bitfinex dedicates 27% of profits to repurchase and burn LEO tokens.
- Transparency: All buybacks are logged publicly on Bitfinex’s dashboard.
- End Goal: Continue buybacks until no LEO remains in circulation.
👉 Discover how LEO’s burn mechanism boosts token value
Use Cases for UNUS SED LEO
Trading Fee Discounts: Tiered savings based on LEO holdings:
- Crypto-to-crypto pairs
- Stablecoin trading pairs
- Cross-Chain Utility: Bridges Ethereum and EOS ecosystems via ERC-20/ESO standards.
- iFinex Ecosystem Access: Grants holders interoperability across future products.
Market Performance Insights
- Total Supply: 1 billion LEO (61.8 million burned to date, worth $232 million).
- Unique Aspect: Designed for eventual full supply depletion via burns.
FAQs About UNUS SED LEO
What gives LEO token its value?
Its value stems from Bitfinex’s profit-driven buybacks and utility in reducing trading fees.
Can LEO tokens be staked?
No, LEO isn’t a staking token—its primary utility lies in fee discounts and ecosystem access.
How does the burn mechanism work?
Bitfinex uses 27% of revenue to repurchase LEO from markets and permanently remove them from circulation.
👉 Explore LEO’s real-time price action and trading pairs
Is LEO available on decentralized exchanges?
Yes, it’s tradable on DEXs supporting ERC-20 or EOS tokens.
What happens when all LEO is burned?
The token will cease to exist, making remaining LEO increasingly scarce.
How does LEO compare to exchange tokens like BNB?
Unlike BNB, LEO focuses on progressive scarcity through burns rather than multi-chain utility.
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