. What is UNUS SED LEO? Here is the Crypto Currency LEO Coin in All Details – In this article, what is UNUS SED LEO? We will answer the question and try to present details about the project.
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UNUS SED LEO (LEO) is a new token designed to expand the capabilities of all platform users and services to iFinex, Bitfinex’s parent company. Such a decision should help to cope with the crisis that followed the allegations of illegal use of Tether cryptocurrency against the trading platform.
With UNUS SED LEO, Bitfinex is planning to fill its own budget. As a result of the first exchange, 1 billion dollars were collected.
IFinex has a budget deficit of 850 million dollars. Therefore, coins amounting to 27% of the profit are used each month to close the hole created in the budget. On May 20, 2019, the UNUS SED LEO token was added to Bitfinex and then to other trading platforms.
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As we mentioned earlier, iFinex will purchase LEO tokens that are equivalent to at least 27% of the company’s profit for the previous month on a monthly basis. This is an uncertain process while tokens are in circulation. Payback occurs at the current market price.
LEO tokens used to pay commissions can also be burned. The only platform that cannot destroy coins is Ethfinex, because it launched its own token called NEC in 2017 for the same purposes.
Benefits for UNUS SED LEO Token Holders
The benefits of owning UNUS SED LEO tokens include:
1) Commission savings on Bitfinex. All fees for those holding the token will be reduced by 15% for all cryptocurrency pairs.
2) Monthly discounts on Bitfinex. Token holders receive a 0.05% discount for every 10 thousand USDT on UNUS SED LEO tokens that were held on the trader’s balance sheet in the previous month. Calculations are made taking into account every day of the month. The maximum discount is 5%.
3) Discount on the withdrawal and renewal of both cryptocurrency and fiat money on the Bitfinex exchange. Owners of more than 50 million UNUS SED LEOs will receive a discount of up to 25% for withdrawing and depositing cryptocurrencies. In addition, market customers who will own $ 50 million in tokens will be able to withdraw up to $ 2 million per month at no additional cost. Also, the additional commission will be reduced from 3% to 2% with any withdrawal that exceeds 2 million USD in monthly fiat.
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