Leo Token (LEO) is a cryptocurrency that serves as the utility token for the iFinex ecosystem, which includes Bitfinex, Ethfinex, and Tether. LEO is an ERC-20 token that can be used to reduce trading fees, earn interest on lending, and receive discounts on other iFinex services.
History of LEO
LEO was launched in 2019 to help iFinex recover from a hack in 2016. The token sale raised over $1 billion, which was used to repay customers who lost funds in the hack. LEO also serves as a way to reward loyal iFinex users and to promote liquidity on the Bitfinex exchange.
Features of LEO
Benefits of LEO for iFinex Users
Holders can receive a discount on trading fees on Bitfinex, depending on the amount of LEO they hold. The discount can be up to 50% for makers and 25% for takers. Holders can also earn interest by lending their LEO to other traders on the Bitfinex exchange.
In addition to these benefits, Holders also have the right to participate in governance decisions related to the iFinex ecosystem. For example, LEO holders can vote on changes to the Bitfinex trading platform and on new features for the iFinex ecosystem.
Use Cases for LEO
LEO can be used in a variety of ways, including:
Conclusion
LEO is a valuable token for iFinex users, and it plays an important role in the iFinex ecosystem. The token is also traded on several other cryptocurrency exchanges, making it a liquid asset that can be easily converted to other currencies.