UNUS SED LEO vs Kraken vs UPbit
What problem does this service solve?
UNUS SED LEO aims to increase the transparency of how revenues from Bitfinex, Tether, and its related entities are allocated. | Kraken is one of the largest and most influential crypto exchanges. It consistently ranks as one of the most trusted and popular exchanges. | UPbit is the largest Korean trading exchange and is backed by Song Chi-Hyung, who is one of South Korea’s richest men. |
Token Stats
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Company Description
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. | Kraken is a US-based cryptocurrency exchange and one of the largest bitcoin exchanges in terms of volume and liquidity. | UPbit is a Korean exchange that was launched in October 2017 by Song Chi-Hyung, who is one of South Korea’s richest men. His company, Dunamu, is the holding company behind UPbit, was originally an online news aggregator, but quickly pivoted into Fintech, where it has done very well. UPbit is geared almost exclusively towards the Korean market, and offers a large number of BTC and Korean Wong pairs. |