UNUS SED LEO
by Bitfinex
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UNUS SED LEO aims to increase the transparency of how revenues from Bitfinex, Tether, and its related entities are allocated.
Company Details
- Bitfinex
- https://leo.bitfinex.com
- Founded 2019
- Hong Kong
- Bitfinex Exchange Token
Token Stats
About UNUS SED LEO
UNUS SED LEO is an initiative started by Bitfinex that is focused on increasing the exchange's transparency. UNUS SED LEO means "one, but it's a lion" in Latin. The iniatative was created to increase the transparency of the exchange's finances, following a controversy related to the allocation of reserves from the stablecoin Tether, that was created by the same parent company as the Bitfinex exchange, iFinex. It is built around a token burning redemption mechanism which is tied to the parent company's revenues. Their dashboard provides insights into the fees that are collected, and the LEO tokens that are burned.