UNUS SED LEO (LEO), launched in May 2019 by iFinex, the parent company of Bitfinex, is a utility token designed to enhance the Bitfinex exchange ecosystem. Named after the Latin phrase “One, but a Lion,” LEO symbolizes strength and utility. Issued on Ethereum (660 million ERC-20 tokens) and EOS (340 million tokens), LEO offers trading fee discounts, lending benefits, and governance participation. Its token burn mechanism reduces supply over time, aiming for eventual full redemption.

Key Features

  • Utility: Provides up to 25% discounts on trading, withdrawal, and lending fees on Bitfinex, with tiered benefits based on LEO holdings.
  • Dual Blockchain: Operates on Ethereum and EOS, with seamless cross-chain conversions.
  • Token Burn: iFinex buys back and burns tokens monthly using at least 27% of its consolidated gross revenue, reducing the total supply.
  • Ecosystem: Supports Bitfinex’s trading platform, IEO participation, and future iFinex services.

LEO Token

  • Purpose: Used for fee reductions, margin trading collateral, and community governance via polls.
  • Supply: Total supply of 985.24 million, with ~923.34 million in circulation as of June 2025.
  • Price (June 2025): ~$9.11 USD, up 0.77% daily, with a market cap of $8.41 billion (ranked #19).
  • Initial Sale: Raised $1 billion in a 10-day IEO in 2019, selling 1 billion tokens at $1 each (pegged to USDT).

Who Are the Founders of LEO?

LEO was created by iFinex, the parent company of Bitfinex. Key figures include:

  • Jean-Louis van der Velde: CEO of iFinex and Bitfinex, driving strategic vision.
  • Giancarlo Devasini: CFO, overseeing financial operations and the LEO token sale.

The token was launched to address a $850 million shortfall after funds were seized from Crypto Capital, Bitfinex’s payment processor, in 2018. The IEO raised $1 billion to stabilize operations.

What Makes LEO Unique?

LEO stands out for its integration into the Bitfinex ecosystem and deflationary model:

  • Fee Discounts: Offers up to 25% reductions on trading and withdrawal fees, scaling with holdings (e.g., 15% taker fee discount for any LEO balance).
  • Token Burn: Monthly buybacks using 27% of iFinex revenue, with additional burns from recovered 2016 hack funds (80%) and 2018 seizure funds (95%), aiming to eliminate all tokens.
  • Governance: Holders participate in community polls, influencing Bitfinex platform development.
  • Dual Blockchain: Ethereum and EOS compatibility enhances flexibility for users and developers.

Unlike many cryptocurrencies, LEO is not designed for perpetual existence, with its burn mechanism targeting full redemption.

Stacks LEO: The Stacks-based LEO memecoin focuses on DeFi culture, NFT trading, and community engagement via stxtools.io, aiming to onboard 100,000 users to the Stacks ecosystem.

LEO Network Upgrades (2025)

  • Token Burn Transparency: The LEO Transparency Dashboard provides real-time data on burns and supply, ensuring trust. In Q1 2025, burns continued reducing circulating supply.
  • Bitfinex Ecosystem Growth: New trading pairs and IEO opportunities were added, boosting LEO utility. Social sentiment on X remains bullish, with posts noting LEO’s role in Bitfinex’s expansion.
  • Stacks LEO Developments: The Stacks LEO partnered with Sui’s $HIPPO in May 2025, enabling cross-ecosystem quests and multi-chain engagement, enhancing its Web3 onboarding mission.

How Is LEO Secured?

LEO leverages the security of its host blockchains:

  • Ethereum: Secured by proof-of-stake since 2022, with validators staking ETH to confirm transactions.
  • Bitfinex Custody: LEO tokens held on Bitfinex are protected by multi-signature wallets and cold storage.
  • Governance: Community polls allow LEO holders to influence platform decisions, enhancing decentralization.

Stacks LEO: Secured by Stacks’ proof-of-transfer, anchored to Bitcoin’s blockchain, ensuring robust security for its DeFi and NFT use cases.

Conclusion

UNUS SED LEO (LEO) is a cornerstone of the Bitfinex ecosystem, offering tangible utility through fee discounts and governance while reducing supply via burns. Its dual-blockchain design and integration with iFinex services make it a unique utility token.

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