UNUS SED LEO is a utility token that’s used across the iFinex ecosystem. The unusual name is based on a Latin citation from one of Aesop’s fables.

The cryptocurrency allows Bitfinex users to save money on trading fees. UNUS SED LEO launched in May 2019.

UNUS SED LEO was founded by iFinex after Crypto Capital, the company that processed its payments, saw part of its funds seized by the government. IFinex is the parent company of Bitfinex, which warned that it may not be possible to recover these funds. To cover the financial shortfall, it decided to launch the LEO token.

iFinex is committed to buying back UNUS SED LEO from the market on a monthly basis. The amount that’s purchased and burned is equal to at least 27% of the revenues generated by iFinex — and tokens are also purchased at the market rate. In a news release at the time, the company said: “The burning mechanism will continue until 100% of tokens have been redeemed.”

Originally, the total supply was set at 1 billion. There were 660 million ERC-20 tokens at launch, as well as 340 million EOS-based tokens — and Bitfinex allows conversions between the two chains to be made with ease.

It has a circulating supply of 953,954,130 LEO coins and the max. supply is not available.

You can Purchase LEO from OKX, Coinbase, FTX, Bitfinex, and many others.