UNUS SED LEO /LEO

What is UNUS SED LEO(LEO)?

UNUS SED LEO, also known as LEO token, markets itself as a “Utility token at the heart of iFinex, " designed to empower the Bitfinex exchange. ”UNUS SED LEO” is originally from the Latin phrase ”one, but a lion”.

It is built and operated on two blockchains:  Ethereum and EOS. The token operates on the Bitfinex cryptocurrency exchange platform to reduce transaction fees while trading, lending, and other services.     

In addition to offering trading fee discounts for holders, the token allows seamless conversion between the EOS and Ethereum protocols, with Bitfinex as a bridge. iFinex also owns the company Tether Limited (USDT), the largest stablecoin by market cap.   

The crypto exchange Bitfinex is one of the oldest of all platforms, launched in 2012 by the firm iFinex. Being operational for so long, they introduced the LEO token in 2019 as the native asset of the platform. 

What makes LEO unique?

What makes LEO unique is that it is built on two blockchains that is Ethereum and EOS it gives access to “dual blockchain functionality”, providing users with both flexibility and ease of use. Another feature includes a Deflationary asset, which enhances the value of the coin by periodically buying and burning LEO tokens. 

History of the LEO token 

Bitfinex established in 2012, is one of the oldest CEX crypto exchange platforms, handled by its parent company iFinex. Despite its longevity, it has faced many challenges such as security breaches, and allegations of fund mismanagement. U.S. prosecutors have alleged that iFinex transferred funds to Crypto Capital Corp, a shadow bank facilitating fiat-to-crypto exchanges, to cover an $850 million loss. This involved using reserves from Tether (USDT), which is also owned by iFinex.

To cover the loss iFinex launched the LEO token, with a plan to gradually buy back and burn some percentage of the tokens until none are left circulating in the marketplace.   

How does the LEO token work?

Primarily LEO utility token works on the Bitfinex exchange and other exchanges that are controlled by the parent company iFinex.

LEO token was issued on two blockchains i.e. 66% supply on Ethereum and  33% supply on the EOS blockchain. So the Token Burn mechanism makes sure that Ifinex regularly buys back around  27% of the token revenue generated from Bitfinex leading towards this effort, which results in reducing the token supply over time.

LEO token holders can start by depositing an EOS-based token, which can then be exchanged for an equivalent ERC20 LEO token. The pricing of both tokens remains stable on the exchange platform. Bitfinex facilitates this seamless transaction between the two blockchains by making necessary adjustments to the token issuances following the conversion process.

Additionally, Ifinex makes sure that the token holders benefit from discounts that are available on both Bitfinex and EOS finance, which are part of the iFinex ecosystem. 

LEO Token Performance Highlights

LEO token was first launched in May 2019 through IEO (Initial Exchange offering) on the BItfinex exchange raising over $1bn in 10 days. Its initial price is set to  $1 for a 1 LEO. This achievement made LEO rank among the top 15 cryptocurrencies at the time. Of the 1B supply, around 660 million tokens went to Ethereum and around 340 million to the EOS blockchain.  

Unlike traditional crypto, which increases in supply, LEO’s Token burn mechanism is designed to diminish the total supply of $1bn over time. As of 2024, LEO's total circulating supply comes to around 925 million tokens. 

LEO had reached an all-time high  of $8.92 on November 21,2024 and an All-Time Low $0.799859 on December 24, 2019. 

Where to buy LEO Coin?

As of 2024, LEO is listed on 17 exchanges, with Bitfinex as a primary exchange where most of the trade takes place. 

Around 13 of these exchanges are CEX, which include platforms like Bitfinex, OKX, XT.COM, DigiFinex, and Gate.io, and 4 are DEX, some of which are platforms like Uniswap V2 (Ethereum), Uniswap V3 (Ethereum), Polkaswap.

The platforms available to the US markets for trading LEO are Bitfinex, OKX, Uniswap V2, Uniswap V3, and HitBTC.

Common exchange pairs involve LEO/ETH (Ethereum), LEO/BTC (Bitcoin), LEO/USD (US Dollar), and LEO/USDT (Tether). 

Wallets that support LEO  coin?

Hardware wallets that support LEO tokens are 

• Ledger Nano S & Nano X 

• SafePal S1, Safe Pal X1

• Trezor Safe 3

• Tangem Wallet etc.

Software wallets that support LEO include 

• Coinbase Wallet

•  MetaMask

•  Guarda

•  Exodus etc.

LEO Price Prediction from the year 2025-2030

As per Coinpedia, the UNUS SED LEO price forecasts for the coming years i.e from 2025-2030 could be as follows:

• 2025: LEO is expected to reach a high of $10.00, with a potential low of $5.50 and an average price of $7.75.

• 2026: The price could peak at $11.50, with a possible low of $6.50, averaging around $9.00.

• 2027: LEO’s maximum price is predicted to hit $13.00, with a low of $7.50 and an average of $10.25.

• 2028: The token could rise to a high of $15.00, with a low of $8.50 and an average price of $11.50.

• 2029: LEO might see a high of $16.00, a low of $9.50, and an average of $12.75.

• 2030: LEO could peak at $17.50, with a minimum of $10.50 and an average price of $14.00.