UNUS SED LEO

LEO Launched 2019 source

What this page is: neutral, sourced facts about UNUS SED LEO. Every line links where it was checked. 12 facts, 8 from primary sources. Educational, not financial advice.

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Launch

A whitepaper dated 05.08.2019 introduced the initial offering of a new utility token, LEO, for use on Bitfinex and other iFinex trading platforms. primary source source

Founders and creators

Issued by iFinex, parent of Bitfinex. primary source source
Issuer: Unus Sed Leo Limited, a British Virgin Islands company limited by shares, formed for the purpose of issuing LEO tokens. primary source source

Origin story

Bitfinex was founded in December 2012 as a peer-to-peer bitcoin exchange. secondary source source

Stated purpose

iFinex launched LEO to cover a financial shortfall after Crypto Capital, the company that processed its payments, saw part of its funds seized by the government. secondary source source

Consensus mechanism

LEO is not its own chain: tokens were issued on two blockchains, with 64% of the original supply on Ethereum and 36% on EOS. secondary source source

Supply model

iFinex commits to buy back and burn LEO tokens. primary source source
On a monthly basis iFinex and its affiliates will buy back LEO equal to a minimum of 27% of the consolidated gross revenues of iFinex from the previous month, until no tokens are in commercial circulation. primary source source

Main uses today

Commercial uses include reductions of fees and other discounts on BitFinex and EthFinex. primary source source

Key milestones

UNUS SED LEO launched in May 2019; it was sold at $1 apiece, raising a total of $1 billion over a 10-day period. secondary source source

Notable events and controversies

At least 80% of recovered net funds from the BitFinex hack will be used to repurchase and burn outstanding LEO tokens within 18 months from the date of recovery. primary source source
The New York Attorney General's agreement required iFinex, Tether, and related entities to cease trading activity with New Yorkers and pay $18.5 million in penalties. primary source source

Sources & studies

Last checked: 2026-11-04 · Prices, market caps and circulating supply are left out on purpose because they change by the minute. Educational, not financial advice.

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