What is the LEO Token?
The LEO Token is a cryptocurrency project that was launched in 2019 by iFinex, the parent company of Bitfinex.
The LEO Token is an ERC-20 token built on the Ethereum blockchain and is used to facilitate transactions on the Bitfinex platform. The token is designed to provide users with a secure and efficient way to access the services offered by Bitfinex, such as margin trading, lending, and staking. The LEO Token has a total supply of 1 billion tokens and was distributed through an Initial Exchange Offering (IEO) on Bitfinex.
The IEO raised $1 billion in funds for iFinex, which was used to cover losses incurred from the loss of $850 million in customer funds that were seized by authorities. The LEO Token has several benefits for users of the Bitfinex platform. For example, users can receive discounts on trading fees when they use LEO Tokens to pay for their trades.
Additionally, users can earn rewards in the form of LEO Tokens when they stake their tokens or lend them out through the platform’s lending service. Finally, users can also use their LEO Tokens to vote on important decisions made by iFinex regarding the future of the platform.
