Home / Crypto News / Bitfinex announces private sale of exchange utility token “LEO”

Bitfinex announces private sale of exchange utility token “LEO”

Bitfinexが取引所ユーティリティトークン「LEO」のプライベートセールを発表 

Yuya 【CRYPTO TIMES Official Writer】

Yuya Coin Desk News

I have studied a wide range of technologies and applications of distributed ledger technology.

Bitfinex, a cryptographic asset exchange that is rampant about the tether problem, announced that it will actually perform the initial rumored exchange token initial exchange offering (IEO).

Tokens sold by IEO are named ” LEO “, and they can be used as ” exchange utility tokens ” to discount commissions for trading various products on Bitfinex and for deposit and withdrawal of assets.

In general, IEO usually sells tokens for an external project using its exchange token as the payment currency, but this time it sells exchange tokens for “1LEO = 1USDT”.

BitFinex has released a white paper with the LEO token sale.

LEO’s supply amount is 1 billion sheets (equivalent to 1 billion USD), and it seems that the aim of Bitfinex is to sell most of them at the private sale that will be implemented until May 11. It is noteworthy that white papers are not targeted for sale in the United States .

Tokens that are oversold may be resold at the discretion of the LEO issuer and iFinex parent company, Bitfinex.

IFinex also buys back LEO with its own earnings and funds recovered from the Crypto Capital and Bitfinex hacking incidents.

Does Bitfinex, which attracts attention on the tether problem, plans to issue exchange token?

Article Source: LEO White Paper

Get information on CRYPTO TIMES LINE @!

Related articles From the same writer

Popular articles of the same category

Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/bitfinex-leo/

Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and informational purposes only. We are not an investment advisor and do not provide financial advice.

Please check the articles which have not been reviewed and verified all articles posted on CoinNewsDesk.com. Please independently research and verify any information found here before relying on facts. It is also important to do proper due diligence and analysis, including involving disciplines No content on Coin News Desk makes up a recommendation to enter in any type of investment or any investment in any investment strategy presented on this website. before making any decision regarding investments or your personal finances.

About Coin News Desk Team