The live price of UNUS-SED-LEO is $9.30 per LEO/USD, +0.61% in the last 24 hours. It has a market cap of $8.63B and $97.36K in trading volume over the same period. Prices are averaged across every exchange we track and update continuously. LEO has a circulating supply of 919.86M.
UNUS SED LEO stands out due to its burn mechanism, where iFinex commits to buying back tokens monthly. The repurchased amount equals at least 27% of iFinex's revenue, with acquisitions made at market rates. The company stated that this process would continue until all tokens are redeemed. Additionally, LEO was launched on two blockchains: 64% of the initial supply on Ethereum and 36% on EOS, a dual-protocol approach that was highlighted as unique at the time.
How Many UNUS SED LEO (LEO) Coins Are There in Circulation?
The circulating supply of LEO is intended to decrease over time through the burn mechanism. Initially, the total supply was set at 1 billion tokens. These were sold at $1 each, equivalent to Tether, raising $1 billion over ten days. At launch, 660 million tokens were on Ethereum and 340 million on EOS, with Bitfinex facilitating easy conversions between the two chains. This dual-chain setup was described as unique by the company.
What is UNUS-SED-LEO?
UNUS SED LEO is a cryptocurrency token issued by iFinex, the parent company of the Bitfinex exchange. The token's supply is designed to decrease over time through a monthly buyback and burn mechanism, where iFinex purchases LEO from the market at prevailing rates and removes it from circulation. The amount bought back is at least 27% of iFinex's generated revenues, and the process is intended to continue until all tokens have been redeemed.
The token was initially launched on two different blockchains: approximately 64% of the original supply was issued on Ethereum as ERC-20 tokens, while the remaining 36% was issued on the EOS network. At launch, the total supply was set at 1 billion tokens, with 660 million on Ethereum and 340 million on EOS. Bitfinex facilitates conversions between the two chains.
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LEO tokens were sold at a price of $1 each, with purchases made on a 1:1 basis with the Tether stablecoin, raising a total of $1 billion over a 10-day period. The dual-protocol launch was described by the company as unique and was intended to support the Bitfinex community. The circulating supply is expected to diminish over time as the burn mechanism continues.
Where to buy UNUS-SED-LEO
UNUS-SED-LEO is available on 2 exchanges. Prices shown are live.
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