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What is UNUS SED LEO (LEO), and what's behind the name?
UNUS SED LEO is a utility token of the iFinex ecosystem.The coin is issued by Bitfinex. Its name comes from Latin and translates as "One, but a lion", symbolising strength.
What's the primary purpose of LEO within the Bitfinex ecosystem?
Users can use LEO for paying trading fees on Bitfinex. The coin also offers some benefits, including fee discounts and access to token sales.
Can I trade LEO on other exchanges besides Bitfinex?
LEO is available on such crypto exchanges like Bitfinex, Coinbase, OKX, and Gate.io. You can also buy LEO using a fiat bank card on a licensed itez service.
How does LEO contribute to Bitfinex's token sales and initial exchange offerings (IEOs)?
LEO holders often receive priority access to token sales hosted on Bitfinex. Moreover, the coin provides users with discounts for all iFinex products and reduces fees for withdrawals and deposits on the exchange.
What's the significance of LEO's burning mechanism?
Bitfinex regularly burns LEO tokens in order to reduce the total supply, which increases the coin's value.
Is LEO considered a stablecoin like USDT or USDC?
No, LEO is not a stablecoin. It's a utility token of the iFinex ecosystem. LEO's price flactuates just like other cryptocurrencies.
Can I stake LEO to earn rewards or participate in Bitfinex's governance?
No, it's not possible to stake LEO. The token is only used for reducing fees within the blockchain.
What advantages does LEO offer to frequent traders on Bitfinex?
Well, LEO holders get fee discounts of up to 5% when making peer-to-peer (P2P) transactions.